Cement giant Pretoria Portland Cement (PPC) seems to be determined to aggressively expand into fast-growing Africa. In a presentation to investors,
PPC says it has successfully secured non-recourse project finance of over $400 million for its expansion projects, most of which are located throughout Africa.
The cement maker already has strong market positions in Zimbabwe, Botswana and Rwanda.
PPC explained that it sought entry points to fast-growing African countries that required significant infrastructure investment and was focused on delivering on African expansion projects.
Production at its new 600,000-ton-per-annum plant in Rwanda is expected to commence in the second half of 2015.
Pending the finalisation of outstanding documentation, the group is poised to increase its stake in Ethiopian-based Habesha Cement, a 1.4 million-ton-per-annum plant, to 51%.
Read the full article by following the link below.
