BDC to put more money in murky glass project

Thursday, January 19, 2012

As the probe into apparent irregularities at the Botswana Development Corporation (BDC) regarding the Fengyue glass manufacturing project in Palapye gets underway, more money is being channelled to go ahead with it, a press release from BDC board of directors says.

This is inspite of the expert advice of a forensic audit that BDC must re-evaluate its involvement in the project because of uncertainty regarding the financial strength of Fengyue.

A meeting of the BDC board on December 19, 2011 sought to justify the significant over-budget and delays in project implementation that were noted in the forensic audit report.

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