PPC Limited to invest $200m in manufacturing plant

Speaking at a ceremony to mark the company’s 100 years in Zimbabwe, PPC Zimbabwe chairman Mr Todd Moyo said feasibility study for the manufacturing plant, to be established in Rushinga in Mashonaland Central Province, were at an advanced stage, with significant investment in exploration drillings at two locations.

“The new plant will address the expected future increase in cement demand, create employment opportunities, benefit mineral reserves and increase growth opportunities for our indigenous partners.

“Our present operations produce 760 000 tons of quality cement per annum for customers in Zimbabwe and Africa,” said Mr Moyo.

He said the company anticipated to double production capacity after the completion of the project enhancing exports in the region.

“PPC Limited aims to grow its non-South African revenue from the current 21 percent to at least 40 percent by 2016.

“In the execution of our growth strategy two acquisitions were made in 2012, attaining a 27 percent stake in the Harbesha Cement in Ethiopia and a 51 percent stake in Cimerwa Cement in Rwanda,” he said.

Mr Moyo said PPC was positive about the future outlook of Zimbabwe and cement demand in the country with expansion through investment a priority in terms of African growth strategy.

“Currently we are engaged in a $6 million project at the Bulawayo factory to improve loading and dispatching of cement. This will make the Bulawayo factory one of the most advanced dispatching facilities in Africa which serves to show that PPC remains committed to developing the plant in Bulawayo”.

Mr Moyo said the company embraced the principle of corporate social responsibility and social investment through creating thriving and sustainable communities in operating regions.

“In compliance with the Indigenisation and Empowerment Act, PPCZ Special Community Trust has injected $3 million to expedite community projects in Gwanda and Umguza,” said Mr Moyo.

Last year, Government awarded PPC a compliance certificate for Portland Holdings Limited, which acknowledged that the company complied with Indigenisation and Empowerment Act.