The foundation stone for the expansion of CIMERWA cement factory in Rwanda was laid yesterday by the president of the African nation Paul Kagame.
The expansion project will lift capacity of Rwanda’s sole cement producer from 100,000tpa to 600,000tpa and has been made possible following PPC’s acquisition of a controlling stake in CIMERWA last December.
Speaking to reporters after the ceremony, Mr Kagame said the increased production levels will help bring down the price of cement. He said that as a fast-developing nation, there exists the requirement for more affordable cement.
President Kagame also announced that the government will partner with the factory to put tarmac on the road leading to the factory. CIMERWA pledged to meet 40 per cent of the total cost of the road construction.
South Africa-based PPC acquired a 51 per cent stake in Cimerwa for US$69.4m, as part of its drive to invest in sub-Saharan Africa, stating at that the time that it is “very confident about Rwanda.”
