Banco Products is planning to invest US$12.3m in Lake Cement, a Tanzanian Company which is to set up greenfield project at Kimbiji, near Dar es Salaam.

The project cost is estimated at US$70m and equity is to be US$24m. The capacity planned is 500,000tpa.

Commercial production will begin from 2013 and market share for Lake Cement is envisaged to be about 11% at full production level.
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