PPC - April 2015

PPC, which recently called off merger talks with AfriSam, is reported to be entering a joint venture with Hodna Algerian Cement Co (HACC) to build a new 2.2Mta cement plant in M’sila, Algeria. According to Algeria’s National Investment Development Agency, work on the project was due to start imminently with 80 per cent of the funding coming from Algerian banks.

However, PPC was quick to issue an alert to its shareholders describing the press reports as “inaccurate” and confirming that while a feasibility study is being carried out into the proposal, that study has not yet been concluded and PPC has not yet made a final decision on the project.