The Managing Director of Hima Cement, Mr Mbuvi Ngunze, has said after a successful six years since Lafarge acquired Hima Cement, the company is considering expanding production.
"We have been profitable right from day one and given the potential of this market, we are now considering expansion," he said.
Mbuvi who was speaking at a media briefing to mark six years of Lafarge’s acquisition of Hima Cement, said they are doing a feasibility study to ascertain the viability of the project. He also said Hima, under their parent company Bamburi Cement, also plan to crosslist on the Uganda Securities Exchange.
The Hima Chairman, Mr Didier Tresarrieu, said Lafarge was happy with their investment in Hima. "Six years after, we are a happy investor and willing to invest more. Our vision is to be the undisputed leader in cement production and marketing throughout East Africa," he said.
He said Lafarge had invested more than $15m in capital expenditure and doubled capacity from 170Kt per annum to the current grinding capacity of 350,000tpa. "Our growth has been good and we are confident of our export and domestic markets. This presents a good opportunity for investment," he said. The Lafarge Regional President Africa, Mr Tony Hardley, said the expansion is driven by the huge market potential.
"Uganda’s consumption is one of the lowest at 27kg of cement per person annually against the Sub-Saharan Africa average of 60kg per person. To us, this is an opportunity," he said.
