Dar es Salaam, May 21 -- DAR ES SALAAM: KIOO Limited, a leading glass package manufacturer, has secured 60 million US dollars (15.6bn/-) for expanding and increasing production to meet domestic and regional demand.

The Dar es Salaam-based manufacturer secured the fund from the International Finance Corporation (IFC), a member of the World Bank Group, and Standard Bank of South Africa.

The IFC dished out 45 million US dollars while Standard Bank 15 million US dollars to warrant Kioo Limited to meet the rising demand of domestic and regional demand for glass bottles and containers.

The Minister for Industry and Trade, Dr Ashatu Kijaji, said the expansion will also create thousands of jobs—direct and indirect—while most of its...