South African cement maker Pretoria Portland Cement (PPC) expects sales growth of 6-8 per cent this current financial year and is upbeat about prospects beyond 2010, its chief executive said on Tuesday.
PPC chief executive John Gomersall told Reuters infrastructure projects planned around South Africa’s hosting of the 2010 Soccer World Cup would offset any slowdown in the residential property sector.
"We have a very positive outlook beyond 2010. There are infrastructure projects that go way beyond 2010... 2014. You are looking at the likelihood of average six per cent annual growth," he said.
"Given the size of the South African market, which is nearly 16Mt [of cement] a year, it means the country needs one more production plant about every 18 months from now until 2010. I’m not just talking about PPC, I’m talking about everybody."