Chinese investors build a $ 10 billion metallurgical complex in South Africa

mission to revive economic growth after a decade of stagnation and target $ 100bn. $ 5 million in new investments over five years.

The complex, which is still in the planning stage, plans to build a stainless steel plant, a ferrochrome plant and a silico-manganese plant is a vote of confidence indispensable in the region. South African economy spits.

The Minister of Trade and Industry, Rob Davies, said Tuesday as considering a metallurgical project in a Special Economic Zone (SEZ), but it did not reveal the magnitude of the project or schedule

The executive involved in the project, who did not wish to be named because it was not allowed to "Investors for the SEZ project were in the room when Ramaphosa and Xi spoke to the press, "said the executive.

Richard Zitha, a project manager at the Musina-Makhado ZSE where the complex will be based, said the project was run by Chinese state-owned companies, but he declined to name them.

Investors would seek Black Economic Empowerment partners to comply with South African rules designed to address racial disparities more than two decades after the end of apartheid.

Investors were open to investors from other countries joining at a later stage, he knows

"Investors have been going to South Africa for a week and have been visiting mines to find inputs for the project, "said Zitha

The Musina-Makhado ZSM is located in Limpopo Province near the borders of South Africa. with Mozambique, Zimbabwe and Botswana.

The SEZ plans to house factories with a capacity of three million tons per year of stainless steel, three million tons of ferrochrome per year and 500,000 tons of silicomanganese per year. These capacity goals are subject to change and will be finalized by the end of the year, the executive said.

A coal-fired power plant, a coking plant and a coal washhouse will be built next to the metallurgical plants, a presentation prepared for investors

Part of the steel production complex was intended to be exported to China, while other products would be sold to countries in southern Africa, according to the executive.

South Africa is already a major exporter of alloys Investors hope to receive the necessary environmental approvals by the end of March and then start construction, says Zitha

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