The row involving Zimbabwe's Industrial Development Corp & Romsit over an abortive glass manufacturing project in Kadoma continues with the state-run institution now demanding US$ 7.3M in compensation. IDC GM Mr Mike Ndudzo told Herald Business in an interview on 5 Feb/08 that the Romanian company's obligation to IDC stood at US$ 7.3M, 31 Dec/07 from just over US$ 6M the previous year. Mr Ndudzo, who described the issue as "too sensitive" said his company has engaged the Foreign Affairs Ministry to discuss the matter with the Romania government through its embassy. "Their obligations to us have now ballooned & we are not going to stop pursuing our money until we get it", said Mr Ndudzo. "At the moment, discussions are progressing through our Ministry of Foreign Affairs but nothing much has been achieved. We are hoping that something will come out of it". IDC and Romsit entered into an agreement in the 1990's for a glass manufacturing initiative in Kadoma but the project collapsed in 1996 following alleged technical problems that IDC blamed on the Romania company. IDC is demanding compensation from Romsit and the International Center for Settlement of Investment Disputes and other Romanian courts have ruled in favour of IDC.
