Consol Glass says it has suspended construction of a new R1.5 billion glass manufacturing plant in Ekurhuleni, Gauteng indefinitely, due to the reduction of the demand for glass products driven by the Covid-19 pandemic and government’s actions to slow its spread.
This has included bans on the sale of alcohol, and restrictions on all on-premise consumption in the restaurant and hospitality industry.
The group said in a statement on Tuesday (4 August), that the legal alcoholic beverages industry accounts for about 85% of sales in the glass packaging industry. On-premise consumption comprises around 55% of alcohol consumption volumes, and will be prohibited until level 2 of the lockdown.
Read the full article on the BusinessTech website: Consol Glass halts R2.3 billion investment in South Africa due to alcohol ban
Author: Derrick Markotter
RCCI Webmaster Derrick runs a boutique web marketing agency, IdealMedia Marketing.