Essar

An Indian investor has pulled out of the Zimbabwe Iron and Steel Company (Zisco) and stopped engagement with government on the planned revival of the Redcliff-based steel producer due to complications involving the steel-maker’s global…
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The Essar project to revive Ziscosteel appears set for total collapse after some of government’s outstanding debts accrued to finance the dormant steelmaker’s operations over the years were recalled, throwing fresh obstacles in the way of…
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HARARE - Zimbabwe plans to cancel independent power producers (IPPs) licences —with a capacity to generate 5 000 megawatts (MW) — including Essar Africa (Essar)’s.
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Outgoing Indian Ambassador to Zimbabwe Mr. Jeitendra Tripathi says the much-heralded Essar deal will remain an important reminder to many governments that honouring bilateral trade agreements can reap massive economic benefits.
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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.
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OPERATIONS at New Zim Steel are expected to resume next month after Cabinet guaranteed the investor that the initial deal signed between the Government and Essar Group stands.
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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.
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Controversy is brewing over the Zisco-Essar deal amid allegations that Industry and Commerce Minister Welshman Ncube pushed through the deal without proper due diligence and allowed Essar to unfairly own 80 percent of 45 billion tonnes of…
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