ARM awaits board approval for South African project

ARM awaits board approval for South African project
Published: 03 January 2014

ARM Cement is still awaiting board approval for the construction of a new cement plant in South Africa,  the company's managing director, Pradeep Paunrana, has said.

Mafikeng Cement, in which ARM has a 70 per cent stake, plans to build a plant a 3000tpd plant in Africa's largest economy, Paunrana told Nairobi-based Business Daily newspaper, Bloomberg reported.

However, the company is still awaiting approval from its board of directors, with Mr Paunrana explaining to Bloomberg in an interview that: “We have not approved any budget or plans at our board yet."

Mr Paunrana recently said that ARM Cement plans to start construction of an 8000tpd plant in its home market of Kenya late next year. The company said it will raise up to US$300m (KES25.5bn) to fund new plants over the next five years, including the new Kitui facility.  It has also expanded into neighbouring Tanzania having already launched a 0.35Mta grinding plant, while a 1.5Mta integrated works is scheduled for completion this year.