News / Regional
Hwange Colliery hires chairs, tents for $250 000 from Harare
19 Jun 2015 at 15:28hrs | Views
Hwange Colliery Company Limited (HCCL) has been sucked in another financial scandal as it is reportedly to have spent over spent $250 000 to hire chairs and tents from Harare.
The coal firm is today commissioning $31,2 million equipment which is set to see the company moving towards the projected 450 000 tonnes output monthly.
Vice President Phelekezela Mphoko was billed to be the guest of honour.
Sources at the colliery told Bulawayo24.com today that the chairs and tents have been hired from a Harare based catering firm.
A helicopter has also been fired to fly in politicians.
A bus full of Harare based journalist also took reported to the mining town and booked hotels in Vic falls and Hwange for the guests.
"Who can they splash so much money on a single event when they are struggling to pay workers. This is unfair,' said the Colliery source.
The equipment was acquired from BELAZ and BEML under vendor-financed facilities.
PTA funded $18,2m purchase of equipment from BELAZ. India Exim Bank financed the purchase of equipment from BEML.
HCCL will get 10 dump trucks, five front-end loaders and two wheel dozers from BELAZ. BEML will supply HCCL with two excavators, two water bowsers, three front-end loaders, three bulldozers, three drill rigs, a motor grader and one tyre handler.
The new equipment, together with the work of a contractor - Mota Engil - would see output totalling a minimum of 450 000 tonnes per month by the second half of the year, the company said in a progress report shared by executive management.
In its financial year results for 2014, HCCL recorded 1% increase in revenue to $72 million.
HCCL is in the process of raising $88 million from shareholders and $51 million from a private placement to reduce its debt and for recapitalisation.
The coal firm is today commissioning $31,2 million equipment which is set to see the company moving towards the projected 450 000 tonnes output monthly.
Vice President Phelekezela Mphoko was billed to be the guest of honour.
Sources at the colliery told Bulawayo24.com today that the chairs and tents have been hired from a Harare based catering firm.
A helicopter has also been fired to fly in politicians.
A bus full of Harare based journalist also took reported to the mining town and booked hotels in Vic falls and Hwange for the guests.
The equipment was acquired from BELAZ and BEML under vendor-financed facilities.
PTA funded $18,2m purchase of equipment from BELAZ. India Exim Bank financed the purchase of equipment from BEML.
HCCL will get 10 dump trucks, five front-end loaders and two wheel dozers from BELAZ. BEML will supply HCCL with two excavators, two water bowsers, three front-end loaders, three bulldozers, three drill rigs, a motor grader and one tyre handler.
The new equipment, together with the work of a contractor - Mota Engil - would see output totalling a minimum of 450 000 tonnes per month by the second half of the year, the company said in a progress report shared by executive management.
In its financial year results for 2014, HCCL recorded 1% increase in revenue to $72 million.
HCCL is in the process of raising $88 million from shareholders and $51 million from a private placement to reduce its debt and for recapitalisation.
Source - Byo24News
