BER-PIG Iron and Steel Company (BPISC) announced that it will invest $43.8 million to build a new iron ore processing plant on 500 hectares of land in the Africa's Midlands town of Redcliff. This iron ore processing plant will bring new business opportunities to the region and will be a step towards increasing employment and boosting the regional economy.
The long-term investment in the new plant is expected to be approximately 520 million dollars. The plant will have an annual production capacity of 870,000 tons of pig iron and 10 blast furnaces. The construction of residential buildings will be operated by Berhard Development Corporation. The new plant is expected to create 1,000 direct jobs and around 5,000 indirect jobs.
Preliminary work has begun for the new plant. 10 products required for blast furnace work are expected to be shipped from China. BSPISC, which plans to start production in August at the latest, aims to be able to produce up to 240 tons of pig iron per day in the first phase and to reach full production within three years.
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