Cimpor expects to have over 10 per cent revenue growth in the Chinese market and is considering opportunities in India, local newspaper Diario Economico reported, citing an unnamed source at the company.
According to the newspaper, the growth forecasts can be explained by China’s ’extended economic boom’ and by the fact that the companies Cimpor acquired this year are located in a region with significant short and medium-term growth potential.
Cimpor regional coordinator for China Alvaro Serra Nazare highlighted that the New Type Cement Development Co (NLG), in which Cimpor bought a 60 per cent stake for EUR2m in May, has a factory in Zao Zhuang, an area renowned for its economic strength, coastal location and road links, the paper said.
Nazare said the factory can produce 1.8Mta of cement.
NLG is currently investing in two cement mills which will allow it to process all the clinker it produces, and also a new plant in the Shanting region, which will double its current production capacity, Diario Economico noted.
The newspaper added that Cimpor has been studying business opportunities in India for a long time, and that it still has strategic ambitions in that country.