Cement Maker eyes prospects in some African markets
South Africa's Cement giant Pretoria Portland Cement (PPC) is 'actively' looking to establish a presence in a number of other African countries.
The company has successfully secured non-recourse project finance of over $400 million for its expansion projects, most of which are located throughout Africa.
Recently in a presentation to investors, the cement maker seems to be determined to aggressively expand into fast-growing Africa.
For one, production of 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%.
To further diversify into Africa, PPC says the construction of its 700,000-ton-per-annum mill in Zimbabwe is progressing well and commissioning remains set for 2016.
In the Democratic Republic of the Congo, the construction of .....