Modi on fact-finding tour of Glendale firms

INDUSTRY and Commerce Deputy Minister Cde Rajeshakumart Modi (pictured above) last week toured the Fertiliser, Seed and Grain (FSG) Company and Glendale Spinner as part of his efforts to familiarise with local industries and understand their challenges.

This comes at a time when Government is emphasising on revamping local industries to grow the economy and achieve Vision 2030 of turning the country into a middle-income economy.

Deputy Minister Modi said he decided to visit the two companies because they are strategic to the economy.

“Fertiliser manufacturing company and cotton industry are vital to the national economy and I came here to find out what they are doing and the challenges they are facing,” he said.

“We discussed how they can generate foreign currency through exports. It is quite a big company that employs around 164 people. They said they are now working on fertiliser supplies for the winter wheat production.”

Speaking at the fertiliser plant in Bindura, FSG managing director Mr Steve Morland said they have branches in Mozambique, Malawi and Zambia.

“We import raw materials and they come through Beira,” he said. “The only raw material available in Zimbabwe is phosphate rock. We also import sulphuric acid which is granulated by Zimbabwe Fertiliser (ZFC) Company in Harare.

“Our main activity here is bulk blending and we have three production lines. We produce 900 tonnes per day. We are coming out of the summer season and we are preparing for winter.

“We have 20 000 tonnes of stocks which is under collateral management agreement and another 20 000 tonnes in Harare. We bought this site in Bindura from Cottco in 2013. We set up a small plant in 2014 and introduced a granulator. The company grew from there.

“Some of the challenges we are facing are foreign currency shortages as well as price distortions. We understand everyone is facing the same challenge and we are trying to stay afloat.”