Tsingshan Holding Group, a Chinese nickel metal smelting enterprise, plans to invest US$800 million to expand its steel plant in central Zimbabwe through its local unit Dinson Iron and Steel Company. The project will double the plant's current carbon steel output from 600,000 to 1.2 million tons annually.

The expansion will fund a new blast furnace, along with centering, rolling, and steel plants. The move is expected to help Zimbabwe reduce its yearly steel import bill, which is estimated at US$1 billion. Before fully proceeding, the company will evaluate whether the market can absorb the sharp increase in production.

This new phase follows the plant's initial construction, which included a 50-megawatt thermal power station to reduce reliance on the nation's electricity grid. The facility will also generate power from furnace gases to cover around 20% of its energy needs.