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ESSAR Holdings is allegedly trying to wean Redcliff Municipality off their joint treated water account by requesting to be billed separately. The steel conglomerate which snapped up a majority stake in New Zimsteel (formerly Ziscosteel) owes Kwekwe City Council over $13 million in outstanding water bills.
Essar Holdings has agreed to immediately inject money into Lancashire Steel and production is expected within the next six months, deputy Minister of Industry and Commerce Chiratidzo Mabuwa has said. Lancaster Steel is a subsidiary of NewZim Steel.
New Industry and Commerce Minister Mike Bimha, has said the Government remains committed to implementing the Essar deal as well as taking care of the welfare of Ziscosteel workers during the transition.
Welshman Ncube the leader of the smaller MDC faction is being accused of receiving bribes to facilitate the US$750 million takeover of Kwekwe-based steel giant Ziscosteel by Indian company Essar Holdings.