The Daily Times is reporting that a new steel rolling factory worth K1 billion, that uses recycled scrap metal to manufacture steel bars, has opened at Makata industrial site in Blantyre, Malawi.The company, called Malawi Iron and Steel Corporation Limited (Miscor), is born out of the premises and left-over equipment of former Agrimal and Encor Products companies, formerly owned by the defunct parastatal Malawi Development Corporation.
The company has already provided employment to 250 people, including former employees of Agrimal and Encor. It will be producing between 15,000 and 20,000 tonnes of steel bars a year.This industry is the first of its kind in the country. Twelve employees of the company were early this month sent for training to steel rolling mills in Kenya and India. The steel bars produced by Miscor would mainly be used by the construction industry in the country. Miscor Managing Director Jayesh Patel said the company would initially target the local market but would start exploring the export market as part of its growth plan.
This is a good development in a number of ways. Idle premises and equipment left over by Agrimal and Encor are being reused. Folks who lost their jobs due to the closure of Agrimal and Encor have been re-employed. New jobs are being created. By sending their employees to other countries for training in steel rolling, Miscor is equipping them with the much needed technical skills, which is good for the country. Infrastructure projects will now get their steel bars locally. Last but not least, Miscor is using recycled scrap metal, which is good for the environment.