Lafarge Cement Zimbabwe eyes further investment

Lafarge Cement Zimbabwe eyes further investment
18 June 2013

Lafarge Cement Zimbabwe has earmarked an investment of US$180-200m over the next 10 years to raise capacity in the southern African country.

Speaking to local press during an event to launch the company’s “building better cities” branding campaign, managing director Jonathon Shoniwa said the new investment would increase the producer’s capacity by 1Mta from the current 0.45Mt. The move will also boost Lafarge Cement Zimbabwe’s market share from the current 38 per cent, Mr Shoniwa told AllAfrica press.

This year the company expects to benefit from continued growth in cement demand. Last year consumption rose by 9.6 per cent to 0.98Mt. The rate of increase is expected to be sustained over the coming years driven by mining and infrastructure.

Having identified great potential in the local market, over the last three years Lafarge has invested US$15m in refurbishment and expansion programmes. Its 2012 annual report showed a 48 per cent YoY rise in domestic sales and revenue was up by 41 per cent to US$69.9m.

Published under Cement News