Ambrian PLC said Monday that its wholly-owned subsidiary Ambrian (Singapore) Pte Ltd has entered into an agency agreement with Cimentos da Beira Ltda.
Under the agreement the company is to be exclusively appointed as Cimentos da Beira's worldwide purchasing agent or supplier of raw materials for producing cement products at its grinding and cement packing operations in Beira, Mozambique, for eight years.
The Beira plant is expected to commence operations at the beginning of 2015, and once completed and operation is expected to have a production rate capacity of around 110tph.
Ambrian will be entitled to a fixed commission on the completion of each contract for the raw materials delivered, and Ambrian will provide standby letters or credit and or bank guarantees in favour of Cimentos da Beira and its suppliers, provided that the face value of these facilities does not exceed US$2m, and their duration does not extend beyond 30 November 2015.
