Maputo, Mozambique, 12 Sept – Investors that planned to re-launch Mozambican glass company, Vidreira de Moçambique have given up on the deal and thus the company’s future is uncertain, Mozambican National Industry Director, Sérgio Macamo said in Maputo.
Similarlyt o what ahs occurred with other companies, such as tyre company Mabor, investors were unable to put forward the funds needed to put the factory back into production, Macamo said.
During negotiations with a South African business group, the forecast was that Vidreira de Moçambique would be in operation again by mid 2008, which did not happen, according to Mozambican news agency AIM.
Macamo said that negotiations were underway with other investors, whose main business is manufacturing glass and, without giving dates, said that with these new interested parties, “the project will,” go ahead, “as the market is receptive to the glass producer’s products.”
According to Macamo, the re-launch of production at Vidreira de Moçambique should occur as soon as possible as demand in the region of the Southern African Development Community (SADC) had increased, due to the fact that South Africa no longer had the capacity to supply bottles.
Re-launching the company is part of the Mozambican government’s strategy to recover old industrial units, a strategy which is fundamentally based on sttracting investment to the industrial sector.
Vidreira de Moçambique is located in the Machava industrial area, in the municipality of Matola, Maputo province, and has been out of operation for over ten years. (macauhub)