Zimbabwe: Zimglass Loses $2bn Daily

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.

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600450 Zimbabwe: Zimglass Loses $2bn Daily glassonweb.com
Date: 2 October 2007
Source: http://allafrica.com

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