Cement News tagged under: Zimbabwe
South African market challenges08 April 2013, Published under Cement NewsFull-year data for South African cement sales released this week show that dispatches edged ahead in 2012, but the growth rate remained tepid. Producers will hope that the government's new infrastructure plans will deliver a new growth impetus to the market. Meanwhile, the country's leading cement producer is pursuing additional opportunities across sub-Saharan Africa to bolster profits. South African cement demand has been rising gradually since 2010 and data released on Wednesday by t... |
PPC Zimbabwe secures funding for new project13 March 2013, Published under Cement NewsPPC Zimbabwe has secured US$200m to build a second plant, according to local press reports. Chief executive, Zak Limbada, said: “We have secured US$200m for the projects but I cannot disclose the source at the moment,” All Africa press quoted him as saying. “Drilling is ongoing and we hope to have sample results (of limestone) in the next two months. With the permission of various regulators, we are hoping to commence the project soon after.” In November last year, PPC announced tha... |
PPC to build new Zimbabwe cement plant08 February 2013, Published under Cement NewsPPC´s Zimbabwe subsidiary, Portland Holdings Ltd (PHL) has announced its intention to construct a new cement plant to service the Harare and central Mozambique markets. The new plant will have a capacity of approximately 1Mta and will coincide with the construction of a separate grinding facility in the neighbouring territory of Tete in Mozambique. Ketso Gordhan, the CEO of PPC said in a statement: "In recent years our investment in Zimbabwe has shown strong growth on the back of a more b... |
Zimbabwe’s PHL agrees ownership deal with government20 November 2012, Published under Cement NewsPPC-owned cement producer Portland Holdings Ltd (PHL) has agreed an ownership deal with the Zimbabwean government and plans to invest US$200m to expand its operations in the country. PPC said the deal followed a series of engagements between PHL and the Economic Empowerment Ministry which culminated with the approval of an empowerment plan that complied with the indigenisation legislation. Zimbabwe’s indigenisation and empowerment laws require foreign-owned firms to sell at least 51 pe... |
Sino-Zimbabwe pursues Masvingo project25 May 2012, Published under Cement NewsSino-Zimbabwe has begun feasibility studies to establish the extent of limestone deposits in the Nyanda Mountains on the outskirts of Masvingo, Zimbabwe, where the company wants to build a plant. The Herald reported that the Chinese company announced plans last year to establish Zimbabwe's fourth cement plant in Masvingo after finding limestone deposits in the Nyanda Mountains. Now the newspaper states that Masvingo town clerk Mr Adolph Gusha revealed yesterday that the Chinese firm wa... |
PPC first-half sales rise eight per cent, South Africa17 May 2012, Published under Cement NewsPretoria Portland Cement, South Africa’s largest cement producer, reported an eight per cent rise in first-half profit (ending March 2012) and forecasts rises in regional demand. Net income rose to ZAR369m (US$45m) in the six months through March, from ZAR343m a year earlier. Cement sales volumes declined 3% for the period under review, mainly as a result of weak demand in the Western Cape and Botswana markets. However, group revenue increased by 8% to ZAR3.529bn as a result of favourabl... |
Lafarge03 May 2012, Published under Cement NewsLafarge Jordan saw turnover decline by 12% lost year to JOD134m (€144m), producing a loss of JOD20m (€21.5m) as production at the two works fell to its lowest lever for eleven years. High fuel and electricity costs led to ceasing exports to Syria, Iraq and the Sudan last year. The company is seeking government permission to burn coal, like its competitor is doing. Lafarge Zimbabwe is to invest US$4.5m in 2012 to improve operating efficiencies. First quarter volumes increased by 31% and t... |
Zimbabwe: PPC to empower community, workers13 February 2012, Published under Cement NewsPretoria Portland Cement (PPC) has agreed to transfer 10% of its shareholding to the Community Share Ownership Scheme to comply with the indigenisation and empowerment laws. The indigenisation and empowerment laws require foreign-owned firms to sell at least 51% of their shareholding to indigenous people. Informed sources say that PPC, in its plan to government, said it would also extend a cumulative 5% shareholding of the company to its workers. Workers owned 1.3% of the company before the... |
PPC ‘cautiously optimistic’ on demand outlook31 January 2012, Published under Cement NewsSouth Africa’s leading cement producer, Pretoria Portland Cement (PPC) said it is ‘cautiously optimistic’ about the cement demand outlook for its domestic and Zimbabwe markets. “Current trends in cement demand and prices should improve results during the first half of our 2012 financial year,” the company said in a statement on Monday. South African cement producers continued to experience a difficult trading environment last year due to delayed or cancelled government projects and su... |