Chinese investor threatens $40M coal gasification project withdrawal over $2M coke loss due to alleged corruption in Zimbabwe.
Chinese investor Guo Feng threatens to withdraw from a $40M coal gasification project in Zimbabwe after losing $2M worth of coke due to alleged corrupt activities. The Hwange Coal Gasification Company (HCGC) lost its coke after a court order issued by High Court Justice Never Katiyo favored Philcool Investments (Pvt) Ltd in 2022. HCGC disputes the order, claiming irregularity and lack of legal basis, as Philcool was not cited as a respondent.
June 29, 2024
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