South African diversified mining exploration firm Sephaku Holdings unveiled plans to build a new cement plan, the company announced on Friday.
Sephaku Chief Executive Officer Neil Crafford-Lazarus told reporters that the company was in the advanced stage of planning the cement plant, which would have a capacity of 2.1Mta once it reached full production in the second quarter of 2012.
Crafford-Lazarus said Sephaku was in talks with South African, Chinese and European financiers to fund the plant.
"We have raised ZAR420m and we are currently discussing with specific investors to raise ZAR800m for our cement business," he said.
"We are not going to place any shares on the market (to finance the project)."
The cement plant will produce at 30 per cent capacity by 2011 and then will ramp up to 2.1Mt.