‘Zisco requires US$360m for resuscitation’

INDUSTRY and Commerce deputy minister Raheshkumar (Raji) Modi on Sunday said the defunct Zimbabwe Iron and Steel Company (Zisco) requires US$360 million for its resuscitation.

Ziscosteel was once Africa’s largest integrated steel works company before it was shut down in 2008 owing to the economic decline in the country, mismanagement and corruption.

Modi told legislators during the 2022 pre-budget seminar in Victoria Falls that his ministry had appointed a board of directors to spearhead the resuscitation of the steelmaker.

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