Zimbabwean government seeking to revive ZISCO
2020-06-02 08:32:46 [Print]
A Zimbabwean government task force will begin work to revive the defunct Zimbabwe Iron and Steel Company (ZISCO), formerly Africa's largest integrated steelworks company.
The task force will assess the costs of refurbishing the company's abandoned steel plant, along with plans to court investors and other financing strategies.
Numerous foreign investors have already failed to revive the company, most recently Chinese property developer Guangzhou R&FA, which backed out of a $1 billion deal last year. Although the inter-ministry task force shows initiative, the likelihood remains slim that ZISCO will make a smooth comeback.
The task force will assess the costs of refurbishing the company's abandoned steel plant, along with plans to court investors and other financing strategies.
Numerous foreign investors have already failed to revive the company, most recently Chinese property developer Guangzhou R&FA, which backed out of a $1 billion deal last year. Although the inter-ministry task force shows initiative, the likelihood remains slim that ZISCO will make a smooth comeback.
