admin
Martin Kadzere Senior Business Reporter
PPC Zimbabwe volumes for this financial year are expected to grow three percent on the back of increased exports into the region, an official said yesterday. Managing director Mr Njambo Lekula told The Herald Business yesterday that while there was an improvement in cement exports, the domestic market remained subdued. “On the domestic side, we are not doing very well . . . the market is stressed,” he said. “The 3 percent growth will be derived from exports which have slightly improved.”
A slowdown in Zimbabwe’s economy, characterized by low aggregate demand has muted local growth of cement sales and the company is focusing on exports markets. Mr Lekula said the company had in “principle” secured the money for Mt Darwin project and a Harare crushing plant. “We are now in the final stages of obtaining environmental approvals from EMA before the funds can be released,” said Mr Lekula.
The company, he said, secured loans from PTA Bank and some local financial institutions.
PPC, with an annual capacity of 1,2 million tonnes intends to double its capacity by building a clinker plant in Mt Darwin and cement crushing mills in Harare and Tete Province in Mozambique at an estimated cost of about $200 million. Cement is produced in two phases with the first being the production of clinker from limestone.
The second phase involves crushing of the clinker into cement powder.
Online Reporter