Zimbabwe needs $300M to complete Green Fuels purchase

June 11, 2012 |

In Zimbabwe, the government may need to pay more than $300 million to complete its proposed majority stake in the Green Fuel ethanol project. The Ministry of Agriculture reports that the government has taken over majority control of the $600 million project in line with the country’s economic empowerment laws. However, there is confusion over the exact status of the project and negotiations.

In the meantime, the company has suspended ethanol production at its Chisumbanje mill after exhausting storage capacity, and Green Fuel has been forced to let go of hundreds of workers due to the slow ethanol sales.

More on the story.

Print Friendly, PDF & Email

Tags:

Category: International

Thank you for visting the Digest.