China-based steelmaker Guotai Iron and Steel Co. (Guotai Steel) is investing RMB 26 million ($4.13 million) in expanding its
steelmaking facilities in
Zambia, including the establishment of a plant for the
production of steel angles, according to
China's Ministry of Commerce.
It is expected that the new steel angle plant will be commissioned in July of the current year, with its products generally aimed at meeting demand in the Zambian market.
Guotai Steel is the only steelmaker in
Zambia which exports finished steel products to neighboring countries, including Zimbabwe, Burundi and Malawi.