Kenyan-based producer, Athi River Mining (ARM) said it expects sales to increase “significantly” this year as demand in East Africa grows at 10 per cent annually.
The company posted a 23 per cent increase in net income for the 12 months through December to KES792m (US$9.2m), as revenue grew 16 per cent to KES5.96bn, according to a statement e-mailed by the Kenyan stock exchange today.
ARM invested KES2bn in clinker and cement capacity in Kenya, doubling cement capacity by January after upgrading its Kaloleni plant in the port city of Mombasa, and building a new cement crushing plant in Athi River, 35km from Nairobi. A further KES1.6bn was invested in building plants in neighbouring Tanzania.
The “Dar es Salaam cement grinding plant, with capacity of 750,000tpa, is expected to be commissioned in December this year, whilst the 1.5Mta clinker and cement integrated plant at Tanga is expected to be commissioned in mid-2012,” the company said in the statement.