Sales from the Tecnosecil cement factory in the port city of Lobito, Angola, increased by 61 per cent last year to reach a value of Euro 13.4m due to expansion in the construction sector fuelled by Angola’s post-war reconstruction, industry sources said. Sales by volume rose 45 percent to 107,000t, more than double the 43,000t registered in 2003.
Pre-tax profits of the Lobito venture were Euro 1.94m, over seven per cent more than the year before. Investment in the Tecnosecil factory was Euro 1.6m, half the amount recorded in 2004 but a figure that will show strong increase in coming years due to expansion projects launched in 2005. In 2003 and 2004 investments in the Lobito plant by Secil surpassed Euro 10m.
It is forecast that the cement plant will achieve an annual production of 250,000t by 2009, double the current amount, and a new clinker mill will be installed in an investment of US$80m.
In November 2005, Secil established a management partnership with the Angolan state for the Portuguese firm to hold a 51 per cent shareholding in the undertaking with the remaining stake being held by Angolan state company Encime.