Sino-Zimbabwe Cement Co (SZCC) is hanging hopes on development deals between Zimbabwe and China to improve its turnover. The joint venture between China and Zimbabwe's government has had to battle declining sales and a slowdown in the construction industry.
SZCC's managing director, Yong Wang, said: "The company is operating between 50-70 per cent capacity utilisation," which was likely to increase if government projects take off.
"The market environment is very tough this year, which has mainly been due to the liquidity changes in the economy," Mr Wang added. "Compared to last year about the same time we had a marginal increase in sales but this has been eroded by the cost of raw materials and other variables in the economy."
"We are hopeful of government projects such as the Gwayi-Shangani Dam, the expansion of the Hwange Thermal Power Station, upgrading of the Robert Gabriel Mugabe International Airport and construction of the Parliament of Zimbabwe will take off this year and this will boost our sales and capacity utilisation."
SZCC has a 25 per cent market share of the domestic cement industry and has a capacity of 0.4Mta.
