Namibian company Groot Glass has secured $650 million funding for the construction of a glassmaking hub.
It plans to construct two separate glass manufacturing factories: one 350tpd Groot Glass Container Factory for the beverages sector and a 600tpd Groot Glass Float Factory for the construction industries.
The pre-engineering work for these two glass factories are scheduled to start in early 2020 and be completed before August 2020.
The construction and engineering by the German companies Heye International and ghs-glass for the two glass manufacturing factories is slated to start by September 2020 and be completed in 12 months and 36 months, respectively.
In October 2019, Groot Systems closed the funding of USD $2 billion (NAD $29 billion) Private Equity Round led by Boston, Massachusetts, USA-based RNS Ventures LLC. with funding by several investment firms including Pine Suisse and Boston Funds.