The Botswana Development Corporation BDC has commissioned Grant Thornton to establish the way forward on the controversial glass manufacturing project that is on hold.
This comes after the project was halted late last year following a dispute between BDC and its joint Venture partner, Shanghai Fengyue Glass Company, on issues pertaining to the implementation of the project.
“In March this year, the BDC Board instituted an exercise with due diligence to determine the progress made on site, which was completed in June 2013 with a number of recommendations,” BDC spokesperson, Gamolemo Zimona, told the Sunday Standard.
He added that the BDC Board had reviewed the report and will during the month of July 2013 present its position to the Ministry of Trade and Industry.
He stated that the Ministry of Trade and Industry would subsequently discuss with Government on the way forward.
He further said the BDC board wanted to be updated on the implementation progress so far and to determine the next step.
Zimona revealed that BDC commissioned Grant Thornton to carry out the exercise but declined to disclose the amount paid for it by BDC.
He wouldn’t commit himself whether the report would be published.
“The findings will be shared with the shareholders, being government and government shall advise accordingly,” he said.
When asked when the project will resume, Zimona replied that negotiations are still ongoing and when completed the media will be updated.
Zimona indicated that the BDC and the Government recognize the importance of the Palapye Glass Project and its potential contribution to the economy of the country.
He mentioned that the project was halted late last year following a dispute between BDC and its joint Venture partner, Shanghai Fengyue Glass Company on issues pertaining to the implementation of the project, the resultant risks and terms and conditions of the EPC contract.
