adminallow for the US$5,5 million rebuilding funded by a consortium of local banks, IDC spokesperson Mr Derek Sibanda said in a statement.
IDC, a national finance development institution owns 100 percent in Zimglass.
“The plant is expected to be re-commissioned in June,” said Mr Sibanda.
“The company had been expected to resume operations in April this year, but there had been delays in the delivery of glass contact refractory.”
When the reconstruction is completed, the plant is expected to produce 110 tonnes of molten glass which translates to about 135 000 bottles of the 375ml beer bottle per day, among other products,”
Mr Sibanda said the recommissioning of the plant would transform the face of industry in Gweru, which had seen most of the factories closing or operating at low capacity. The company will require a labour force of more than 400.
Mr Sibanda said the IDC had also completed the refurbishment of Zimbabwe Copper Industries which it jointly owns with a South African firm.
ZCI is the country’s sole manufacturer of copper profiles and brass products. Copper profile products include plumbing and refrigeration tubes
The company, located in Willowvale industrial area in Harare closed down four years ago due to lack of funding for the refurbishment exercise.
It has the capacity to produce 2 000 metric tonnes of copper and brass profiles per annum with strong a export market in South Africa, Botswana, Zambia and Namibia among others in the region.
“The plant is expected to be recommissioned next month, following a US$1 million refurbishment exercise of the extrusion plant, funded by the IDCZ and part of it being short-term loans for working capital,” said Mr Sibanda
The company can employ 100 when operating at full capacity.
Online Reporter