Ziscosteel

The Zimbabwe Revenue Authority (Zimra) has lifted its garnishee order on Ziscosteel following Government intervention, bringing relief to former workers who were failing to get their outstanding salaries.
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Government yesterday approved the $350 million investment deal in which ZimCoke (Pvt) Ltd will revitalise the coke plant within Ziscosteel, creating more than 800 jobs in the process.
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About 3 850 former Ziscosteel workers and those of its subsidiaries, failed to get their March salaries after the Zimbabwe Revenue Authority (ZIMRA) garnisheed the former steel giant’s accounts.
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Lancashire Steel, a subsidiary of Ziscosteel, is set to resume operations after a new investor Whinstone Enterprises agreed to inject fresh capital.
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Kwekwe-based company, Lancashire Steel, has secured an Indian investor, Whinstone Enterprises and is set to resume operations soon. The company suspended operations in 2010 after facing operational challenges owing mainly to the demise of…
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Hundreds of people the majority of them, laid off Ziscosteel employees, yesterday thronged Kwekwe Theatre and Ziscosteel club in Redcliff where they rallied behind Government’s proposed take-over of the giant steel company’s $495 million…
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Chinese billionaire investor Zhang Li - worth $3,9 billion according to Forbes - is back in Zimbabwe to pursue the deal to acquire government-run iron processor, Ziscosteel (Zisco).
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Zimbabwe plans to take on about $500 million of debt owed by state-owned steelmaker Zimbabwe Iron and Steel Company (ZISCO) to allow a new investor to revive the company.
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Government should conduct an audit to ascertain how the $380 million Zimbabwe Iron and Steel Company debt was accrued, lobby group The Zimbabwe Coalition on Debt and Development (ZIMCODD) has said.
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The revival of Zimbabwe Iron and Steel Company (Ziscosteel) is on course as the firm’s shareholders are set to meet next month to ratify its disposal to Hong Kong-based firm Tian Li.
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