Groot Glass, based in Namibia, secured $525 million in debt financing, 70 percent of the total $750 million needed for the construction of the two different glass manufacturing factories in Tses Village of the Karas Region. The amount will also cover the required infrastructure and raw materials from around Namibia, Botswana and South Africa.
Groot Glass is focusing on the manufacturing of a wide range of quality glass for the construction industry. Of the two factories, one will be dedicated to float glass, with a capacity of over 661 tons per day. Construction is expected to start when the company secures its 30 percent equity funding.
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