By Ndafadza Madanha 

 RESERVE Bank of Zimbabwe (RBZ) governor Dr John Mushayavanhu is impressed with the Dinson Steel plant, and the apex bank is prepared to support the company consolidate operations and become a major steel producer in the region and beyond.

Speaking after touring the Dinson Steel plant in Manizhe today, Dr Mushayavanhu said the commencement of steel production will greatly reduce the country’s import bill and support the country's infrastructure development objectives.

He added that the apex bank will actively cultivate the local financial market to support the establishment of a new town within the confines of the Dinson Steel Plant.

"What has happened since 2022 is pleasing and finally to see the product coming out of the production line. This is a big project and helps in import substitution as the country was importing steel. We are now able to produce steel to meet local demand while excess is exported into the region and internationally.

Certainly Manhize has the potential to become a large city or town and the central bank working in collaboration with the local banks will set up a financial package to set up the requisite infrastructure needed for a modern and vibrant city".

Currently, the Dinson plant has over 2000 workers, and the first phase will see steel production peaking at 600 thousand metric tonnes.

The company has to date invested over USD2 billion into the project.

Governor Mushayavanhu was accompanied by ZANU PF Secretarty for Information and Publicity Cde Chris Mutsvangwa and senior Dinson executives.