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Saldanha Steel, an Apartheid-Era Conceived Mega-Project, Closes

(Bloomberg) -- The Saldanha Works steel plant has become South Africas first state-backed industrial mega-project conceived to counter sanctions during apartheid to close, as making a profit in the open economy overrides the case for strategic industries.Like many planned projects it took years to progress and ended up opening after the countrys first all-race elections in 1994, lessening the initial need for its construction.