Zimbabwe: Zimglass Loses $2bn Daily

Date: 2 October 2007
Source: http://allafrica.com

Date: 2 October 2007

Prospects of glass shortage in the country easing in the near future have been scuttled by power cuts, which have adversely affected operations at the country's sole glass manufacturer Zimglass, which is said to be losing $2 billion a day in foregone production as a result.

Zimglass group chief executive Mr Jacob Dube yesterday said efforts to alleviate the shortage since July had been futile largely because of the power outages. This was despite a standing agreement between Zimglass and the Zimbabwe Elec-tricity Distribution Company whereby the glass manufacturer paid part of its electricity bill in foreign currency in exchange for uninterrupted electricity supplies during the firing and post-firing period of its blast furnaces.

Read the full story
600450 Zimbabwe: Zimglass Loses $2bn Daily glassonweb.com

See more news about:

Others also read

MORE...

IDC loses $71m in glass-making deal
THE Industrial Development Corporation (IDC) has failed to recover $71 million from the Romanian government 14 years after the Zimbabwe partnered the European country in a glass-manufacturing deal that failed to materialise, an official has said.
Zimbabwe: IDC, Chinese Deal Collapses
Harare — THE Industrial Development Corporation will go it alone in refurbishing the flat glass plant in Kadoma after the deal with a Chinese investor to revive the country's second largest glass factory collapsed.
Zimbabwe: Chinese Firm in U.S.$400 Million Glass Project
Harare — THE Jingniu Group, a Chinese company, will spend about US$400 million in the next five years in constructing a glass manufacturing factory in Kadoma, The Financial Gazette can reveal.
Zimbabwe: Glass Plant Construction Hampered
The construction of a US$ 120 million state of the art glass manufacturing plant in the city of Kadoma is being hampered by a critical shortage of water and the current power cuts.
African Largest Glass Center Under Construction in Zimbabwe
The construction of a large-scale modern glass producing and processing center by Jingniu Group, one of the renowned Chinese glass producers, is in full swing in Kadoma, an industrial city in central Zimbabwe.

Add new comment