ZimCoke, has been cancelled with immediate effect, acting Ziscosteel board
chair, Engineer Martin Manuhwa, has said.
Ziscosteel in a $255 million deal, which was viewed as the first step towards
revitalisation of the steel giant.
ZimCoke bought the coke-making assets of Zisco consisting of the plant and
machinery, land and buildings, and associated infrastructure of coal handling
taskforce committee recently, Eng Manuhwa broke the news that the deal had been
some deals that are not favourable to Zisco’s interests. The ZimCoke deal is
one such agreement that has been cancelled and we have since informed our
partners in that regard,” said Eng Manuhwa.
future co-operation in win-win engagements.
“We are for the integrated steelmaking business with value
chains that share the same vision with us,” he said.
committee and Industry and Commerce Minister, Dr Sekai Nzenza, made it clear
that Government had no time to entertain non-committed investors.
importance to the country’s economy.
theft of Ziscosteel assets.
assist in securing the company’s assets.
security to Ziscosteel’s assets. Unprecedented vandalism and syndicated crimes
will surely make the cost of resuscitating Zisco very high. We want to see
these syndicates busted and culprits apprehended,” he said.
Minister Nzenza also raised concern over the disappearance
of assets and called upon the management to act swiftly in addressing the
“I have no doubt that
the new board together with management are prepared to tackle the Ziscosteel
strategic issues pertaining to asset stripping, debts, asset register,
security, identification of a partner and strategic plan among other various
issues. I call upon management to come up with specific measures to curtail
loss of assets and debt accumulation,” said Dr Nzenza