Glass project under-budgeted by P800million

Tuesday, August 18, 2015

As the nation puts behind the failed Palapye Fengyue Glass Manufacturing project, details have emerged to show that had it succeeded, it was going to cost the taxpayer more than P1.5 billion.

This is P800 million more than the projected cost of the project when it commenced in 2008. The project was a joint venture between Botswana Development Corporation and Fengyue China.

Two years after it was liquidated, sources close to the project have confided in Mmegi that the BDC has in fact spent approximately P700 million and has given up on pursuing it. Initially, the corporation said it had spent only P400million.

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Glass project under-budgeted by P800million

As the nation puts behind the failed Palapye Fengyue Glass Manufacturing project, details have emerged to show that had it succeeded, it was going to cost the taxpayer more than P1.5 billion.

Stanbic pretax profits up 11%

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Inspect the voters' roll!