Uganda Launches a 5million Dollar Plastics Raw Material Factory
Monday, 9th May, 2011
Uganda will start manufacturing pre-form, the main ingredient in the production of plastics. Presently, most of the ingredient is imported.
It will now be produced at the $5m (sh11b) food processing plant in Namanve in the outskirts of Kampala, which was launched on Friday.
“Manufacturers with plastic bottle making lines have been struggling to import preform.
“We will increase production when the country starts to refine its petroleum at the end of this year because preform is a petroleum by-product,” Emanuel Katongole, the Vero Foods chairman, said in an interview at the launch of the facility.
The facility is a joint venture between the Ugandan investor and Latiff Zain, proprietor of the London-based TLG Capital Corporation, an investment company.
The launch was attended by 36 high profile investors from Merrill Lynch, Goldman Sachs, Iroko Securities and the Bank of America.