The Tanzania Portland Cement Co Ltd (TPCC), manufacturer of Twiga Cement, has said it will be ready for listing at the Dar es Salaam Stock Exchange (DSE) in early 2005.
TPCC, which controls 45 per cent of the market, said its plans to be listed on the Dar bourse remain unchanged. TPCC Managing Director Morten Gade, said: "next year (2005) is when listing will take place.” Last year, TPCC said the company was concentrating and investing heavily on improving quality, service, increasing production output amid environmental measures and modernisation.
TPCC has invested, to date, about US$13m since its privatisation in late 1990s. The one single biggest investment of the company is turning its kiln to use natural gas from Songo Songo. The pipeline has already been laid. The use of natural gas will cut down cement production cost and will make the process more environment friendly.
Gade said then the slice of the company profit “goes back to the investment” TPCC wants to finish with the investment programme probably by “the end of 2004 and any IPO by 2005.”
TPCC plant has the capacity to produce 600,000tpa of cement but the current production is about 450,000tpa.