2014-5-13 · Essar Africa now owns 54% of New Zim Steel, formerly known as the Zimbabwe Iron and Steel Company (Zisco), a giant steel producer which has been heavily saddled with debts. The debts, coupled with a marked decline in the country''s industry …
2011-12-18 · Essar''s move was seen as strategic and long term not just in Kenya''s energy infrastructure, but in anchoring itself to reap rewards from South Sudan and hinterland Africa by having an unrivalled stake in Kenya, which is the preferred gateway into East and central Africa. Mombasa has the only refinery in East Africa.
2014-5-11 · Zimbabwe finalises $750m Essar deal. Zimbabwe says it has finally concluded a $750 million takeover deal of its giant iron processor Ziscosteel — now NewZim Steel — by Indian firm Essar Africa Holdings Limited. The deal, under which Essar acquired a 54 percent stake in the Kadoma-based steel maker, was agreed to in November 2011, but ...
2013-10-22 · New ZimSteel has failed to commence operations after the takeover by Indian giant Essar Africa Holdings in early 2011 following the signing of a $750 million deal.
2009-9-21 · The latter is because some kind of South-South consolidation is imminent. South Africa''s MTN and Indian telecoms giant Bharti have pushed back their deadline for revitalised merger talks until 30 September as they hammer out the details of a deal that could create the world''s third largest mobile company, with over 200m subscribers.
The Essar Group, through Essar Africa Holdings Ltd (EAHL), has bought 54 per cent stake in Zimbabwe''s state-owned steelmaker, Zisco. The total deal is valued at US$ 750 million. The State Level Single Window Clearance Authority (SLSWCA) in Orissa has cleared four investment proposals in the steel sector worth US$ 632.86 million.
2016-1-10 · ZIMBABWE - The Office of the President is now handling the Ziscosteel revival issue, amidst indications that Government is still keen to hammer out a deal with a foreign investor to once again position the steel maker as the envy of industry in Southern Africa. Finance and Economic Development Minister Mr Patrick Chinamasa had said in his 2016 National Budget Statement last November that ...
2012-8-21 · It was wholly owned by the Government of Zimbabwe until it collapsed and Essar Africa Holdings Ltd bought a 54 percent stake. Government now owns 36 percent and a consortium of private investors holds 10 percent. The Zisco group of companies includes BIMCO, Lancashire Steel, Frontier Steel and Zisco Distribution Centre.
2021-4-15 · Private equity giant Apollo Global Management is in talks with the owners of the struggling Stanlow oil refinery over a The post Apollo circles Stanlow refinery owner Essar amid cash crunch ...
2013-7-11 · A TEAM from Essar Africa has been at New Zimbabwe Steel, formerly Ziscosteel, for the past two weeks as the Indian company steps up efforts to revive operations at the moth-balled steel giant. Own Correspondent.
2011-3-10 · Essar have capacity to transform Zisco into the most sophisticated steel-making giant in Africa, considering experiences in India, Canada, the UK and Indonesia.
2011-1-26 · As part of its desire to revive the Redcliff-based former steel giant Essar Africa had committed to pay off the State enterprise''s estimated US$240 million debt to …
2015-2-12 · New ZimSteel opening soon: Minister. IN a development that may bring back life to the town of Redcliff and many closed companies in the country, New ZimSteel, formerly ZISCO Steel, is set to open its doors soon after lying idle for the past eight …
2016-1-10 · Essar Africa Holdings Limited resident director Mr Firdhose Coovadia could not be reached for comment. Through it all, workers say they are in limbo. Ziscosteel workers council chair Mr Benedict Moyo said there had not been any communication …
2011-6-30 · Diversified Indian giant Essar Africa Holdings, which recently acquired a controlling stake in the Zimbabwe Iron and Steel Company (Ziscosteel), is going beyond Zimbabwe''s borders to search for qualified personnel to restore operations at what used to be one of Africa''s biggest steel makers.
2015-7-10 · THE Essar-Zimsteel deal that was expected to breathe life into the comatose economy broke down due to government''s constant revision of the costs involved in reviving the project, and also the ballooning debt overhang. Kudzai Kuwaza/Elias Mambo In March 2011 government signed a US$750 million deal with Indian firm, Essar Africa Holdings, amid much pomp […]
2011-2-28 · February 28, 2011. 553. Giant Indian firm Essar Africa Holdings, Government of Zimbabwe and Zimbabwe Iron and Steel Company (Zisco) have signed a …
2018-2-18 · INDIAN steel giant Essar Africa Holdings has started joint exploration of Mwanesi ranch in Chivhu with the government in a bid to ascertain the amount of iron ore deposits in the area, Deputy ...
2011-9-4 · Indian steel giant Essar bought 54% of the state-owned Zimbabwe Iron & Steel Company (Ziscosteel). The Zimbabwe government kept 36% while 10% …
2014-5-18 · EFFORTS to resuscitate Ziscosteel, which has since been renamed NewZim Steel, continue to be mired in breathtaking intrigue and subplots as the parties involved — Government and Indian investors Essar Africa Holdings Limited (EAHL) — remain …
2011-2-8 · By Golden Sibanda Government and Essar Africa are expected to conclude the Ziscosteel deal this week, amid reports that the partners are putting last-minute fine-tuning, largely on …
2010-12-2 · ESSAR Africa Holdings Ltd, a Mauritian-based subsidiary of Indian steel-making giant Essar Group, won the tender to take over inoperative local steel company Ziscosteel amid controversy involving greedy politicians and smear campaigns. Information obtained by the Zimbabwe Independent shows that Essar, which apparently had its own political sympathisers, had to ward off serious pressure from […]
2014-7-3 · via Essar execs expected in Zim – DailyNews Live 3 July 2014. HARARE – Essar Africa Holdings Limited (Essar) executives are expected in Zimbabwe this Friday to engage the Mines ministry over plans to establish a thermal power station in the country. The Indian steel giant, which acquired a 54 percent stake in Zimbabwe''s iron processor NewZim Steel – formerly Ziscosteel —in a $750 ...
2015-4-7 · Essar''s plans could go up in smoke should Shougang get their way. In March 2011, government signed a US$750 million deal with Indian firm Essar Africa Holdings in which the foreign investor agreed to take over and resume operations at the defunct state-owned Ziscosteel, but the troubled deal is yet to be implemented amid protracted re ...
2012-5-23 · Minister Welshman Ncube said Essar Holdings will receive its share certificate as soon as the iron ore is transferred to the firm
2011-8-4 · Kwekwe, Zimbabwe — MININGREVIEW — 04 August 2011 – Indian conglomerate Essar has announced that it plans to spend up to US$4 billion on the construction of a plant to process iron ore from Zimbabwe''s Mwanesi resource within the next five years. ... It is the latest drive by investors from emerging market giant India into Africa.
2012-3-28 · [img:Essar%20rw_0.jpg|The old Zisco plant in Zimbabwe â€'' to be taken over by the Indians]Harare, Zimbabwe --- 28 March 2012 - Industrial giant Essar Global of India is to sink US$4 billion into Zimbabwe''s collapsed steel mining and beneficiation industry over the next 10 years through a capital injection into NewZim Steel â€'' a joint venture partnership with the Zimbabwean government.
Essar Global Fund Limited ("EGFL") is a global investor, owning a number of world-class assets diversified across the core sectors of Energy (comprising Exploration & Production, Refining & Marketing and Power businesses), Infrastructure (comprising Ports, Projects and Stanlow Terminals), Metals & Mining, Services & Technology (comprising Shipping, Oilfield services and Technology Solutions).
2013-11-3 · A technical team from Essar Africa Holdings Limited (EAHL) is expected at New Zim Steel this week as the steel giant reaffirms its commitment to the $750 million deal to revive operations at the ...
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