Tanga Cement PLC's Board Chairman, Lawrence Masha, gave an upbeat outlook on the company's prospects because of the government’s heavy infrastructure projects and investments.
At the shareholders' annual general meeting Mr Masha said: "The group remains optimistic of the positive impact of infrastructure development plans under the government’s development version 2025 programme and expect the projects to continue gaining momentum in 2020."
Despite the company’s net loss of TZS12bn (US$5.17m) in 2019, Tanga Cement was able to invest in a second kiln line and sale revenues rose by three per cent to TZS221bn in 2019.
