P 108 Million injected into Lobatse Tile Limited (Pty) Ltd

The Board of Directors of Botswana Development Corporation Limited (BDC) recently approved a capital injection of P108.63 million to finance the expansion of Lobatse Tile Limited (LTL). LTL is a 100% subsidiary of BDC involved in the manufacture of Italian style ceramic floor tiles in Lobatse for the local and export market.

Of the total capital injection, P22.5 million will go towards improving the current operations of the company whilst the balance or P86.13 million will be used to purchase new plant equipment and to construct additional factory space. The expansion will see the company double its production capacity from 2.2 million to 4.4 million square meters per year. It is expected that the expansion will create an additional 90 jobs.

BDC believes that with the improvement of its operations, its expansion of LTL and favorable market conditions, LTL will become profitable and offer exceptional products made out of locally available raw materials for both the local and foreign markets.