IN 2010 industry expectations were whetted when a deal aimed at reviving operations at the strategic Zimbabwe Iron and Steel Company (ZISCO Steel) was agreed with an Indian-based steel giant, Essar Africa Holdings.
Surely this was going be a rich boon not only to the country in general, but to the employees in particular at the iron and steel company which had shut down in 2008.
There was more good news when the US$750 million deal was officially launched by the President in 2011.
The deal saw Essar acquiring a controlling share of 54 percent at the renamed New ZimSteel and also gave the multinational giant 80 percent control of the iron ore claims at Buchwa, Chivhu, Redcliff, Hwedza and Gwanda.
This is a deal at the time of signing, we were made to believe that the Redcliff iron melting plant would go back to its days of old.
This meant providing employment to over 6 000 people at the steel factory, with an initial production of 500 000 tonnes of steel a year within the next 24 months.
We are aware steel is the nerve centre of many key industries which include construction, transport and manufacturing.
These had taken a heavy knock with the shutdown of ZISCO Steel in 2008.
And so we expected their immediate revival with New ZimSteel now on board.
The gullible Zimbabwean public smarting from the West’s illegal sanctions and being shunned by Western investors saw this as a Foreign Direct Investment (FDI) scoop.
No doubt this was bound to entice other reluctant investors to follow.
Unfortunately our sweet dreams soon turned into a grotesque nightmare.
For today four years down the line there is still no blast furnace roaring in Redcliff to melt iron ore at New ZimSteel.
The downstream industries that had hoped to benefit from the revived steel giant have either downsized or closed shop.
Redcliff itself has been reduced to a ghost town with moribund structures staring forlornly at a disease prone environment.
There are still over 2 000 workers there, but all still there hoping the steel giant will start operating soon.
And this is because of the false promises they have been getting that New ZimSteel will be operational soon.
At one time we were made to believe that because participants in the then Inclusive Government had different agendas, they would never come to an agreement on implementation of the deal.
Implementation required cooperation among the Ministries of Industry and Commerce under Welshman Ncube of MDC -N, Finance under Tendai Biti of MDC-T and Mines under Obert Mpofu of ZANU PF.
This was then probably seen as a futile attempt of trying to mix oil and water.
We were then also tempted to believe there was cash changing hands in an attempt to reap maximum personal benefits over the deal as the parties tried to sabotage each other.
In retrospect we may be persuaded to accept this argument.
But this is before we realise the Inclusive Government collapsed on July 31 2013.
Yet today February 13 2015 with the ZANU PF Government having a Parliamentary majority of over two thirds misery at Redcliff and Torwood continues.
Like before there have already been some yet-to-be fulfilled promises.
But this time we would like to give the Ministry of Industry and Commerce the benefit of doubt and hope the deal will be operational soon.
“I do not want to say exactly when New ZimSteel will open, but it’s soon,” the Deputy Minister of Industry and Commerce, Chiratidzo Mabuwa, was quoted by The Patriot as saying.