Iron and steel project power line agreement concluded

By Stanley James

DINSON Iron and Steel Company has entered into an agreement with the Zimbabwe Electricity Transmission and Distribution Company (ZEDTC) for the construction of a 400 kilovolt power transmission line to its iron and steel plant in Mvuma.

The plant will be the biggest on the African continent.

Under the agreement signed in Harare this Monday, the two parties have resolved to construct the transmission power line from Kwekwe to Manhize in Mvuma where the iron and steel plant is located.

Dinson Iron and Steel Company will provide capital to the tune of US$forty million, while Zimbabwe Electricity Transmission and Distribution Company (ZETDC) is expected to provide manpower and skill.

The signing of the agreement which comes two weeks after its approval by Cabinet has also excited the iron and steel company’s directors.

“First and foremost, allow me to thank the executive and the Government of Zimbabwe led by his Excellency, the President Cde E.D Mnangagwa for giving us the green light to partner ZETDC in this project that is not just a key enabler of our project, but a game changing partnership that will have benefits for Zimbabwe’s economy,” said Mr Wilfred Motsi, Projects Manager – Dinson Iron and Steel Company.

For the country’s power utility, it is all about ensuring commitment and fulfilling terms of the joint venture agreement.

With the powerline construction joint venture agreement having been finalised, the importance of stakeholder participation in national projects will be key in consolidating Zimbabwe’s growth targets.   

National projects require financial resources, expertise, monitoring, evaluation and ability to attract investors.

With several national projects being implemented by the government experts are convinced that the involvement of stakeholders, including the private sector and local communities, will lead to success.

“Successful projects all have one thing in common in that they  have all engaged with stakeholders and community groups and managed these relations in a manner that provide future or viability while enhancing  the ability of the government to boost  or develop communities in the near future for the benefit of a nation,” said Dr Zack Murerwa – Economist.

Chartered Governance and Accountancy Institute Chief Executive Officer, Dr Lovemore Gomera clarified the importance of stakeholders in national projects.

“By being proactive with stakeholder engagement, organisations are limiting the opportunity for negative issues for a big project. Taking in and reviewing the opinions, thoughts, ideas, and comments from the stakeholders, and being open about a project, not only allows the project to run smoothly, it actively enhances the reputation of the organisation, and helps to build support of the project in Zimbabwe,” he said.

Experts also believe stakeholder engagement is key in improving unity of purpose in project implementation and reducing the potential of risk or failure.

The post Iron and steel project power line agreement concluded appeared first on ZBC NEWS.

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