Namibia’s Groot Group has secured funding for its glass projects.
It has closed US$2 billion in private equity for the Groot projects, of which $650 million is for the two Groot Glass factories: a float and a container glass factory.
Its financiers have asked that the two Groot Glass factories are constructed next to its silica sand factory in Oshikango, Namibia in order to save the transportation costs of silica sand, which makes up 70% of the raw materials for making glass.
The two factories will therefore be developed on the same site as the silica factory.
Groot said: “We already have enough land in Oshikango, large enough to accommodate our Groot Silica factory and for the two Groot Glass factories.
“In Tses, we are going to develop the tableware glass and fibreglass factories, once we commission the first two glass factories in Oshikango.
“The pre-engineering work by our German and local engineers for these two glass factories that are due to start in early 2020, will start in Oshikango, together with the pre-engineering work for the Groot Silica Sand factory.
“These activities will enable the Northern Namibia area, for the first time ever, to have mining activities on a larger industrial scale.”