Consol halts R1.5bn investment

Consol Glass says it's indefinitely suspended construction of a R1.5-billion manufacturing plant in Ekurhuleni. It says there’s been reduced demand for glass products due to the COVID-19 pandemic and lockdown. Consol Glass CEO Mike Arnold spoke to Devan Murugan.

JOHANNESBURG - The alcohol ban and lockdown restrictions continue to take a toll on investment.

Consol Glass says it's indefinitely suspended construction of a R1.5-billion manufacturing plant in Ekurhuleni.

It says there’s been reduced demand for glass products due to the COVID-19 pandemic and the lockdown.

READ: SAB cans investments worth billions

On Monday, South Africa Breweries pulled the plug on investments worth R2.5-billion due to the impact of the alcohol ban.

It’s reviewing equally valued investments for next year.

Watch the video above for more details.

Source
eNCA

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