Chinese firm invests in Zimbabwe

Chinese firm invests in Zimbabwe
26 August 2016

Mortal Investments Manufacturing Co announced that it is constructing a 1Mta plant in Redcliff, Zimbabwe. The arrival of the Chinese firm in the country is expected to intensify competition in the market that has been dominated by Lafarge and PPC.

Mortal Investments is the second producer to invest in the region, following the lead of Sino-Zimbabwe Cement. This is positive news for locals, as it will bring a further 400 jobs to a town that has been struggling with high levels of unemployment. According to the Mayor of Redcliff, Counsellor Freddy Kapuya, upon completion of the plant, 75 per cent will be owned by the locals, while the remainder of shares will be held by the Chinese company.

The company’s announcement that it will enter the Zimbabwean market comes a year after Dangote revealed it had plans to set up a US$400m plant in the country. The entry of firms such as Mortal and Dangote has forced existing market players to take steps towards strengthening their presence. PPC has been working on expansion projects while Lafarge has plans to increase capacity. Sino-Zimbabwe Cement has also invested US$20m to boost production at its plant in the region.

Published under Cement News