Cement News tagged under: Democratic Republic of Congo
PPC25 January 2018, Published under Cement NewsPPC has rescheduled the debt related to its new cement plant in the Democratic Republic of Congo, PPC Barnet DRC, improving the group’s liquidity position. The new works is 69 per cent-owned by PPC, with a further 21 per cent stake held by local partner, Barnet Group, and 10 per cent by International Finance Corporation (IFC). PPC has successfully finalised a two-year capital repayment moratorium with IFC resulting in total capital requirements for PPC Barnet DRC being limited to interest... |
PPC improves liquidity position22 January 2018, Published under Cement NewsPPC has rescheduled the debt related to its new plant in the Democratic Republic of Congo, improving its liquidity position. The South Africa-based cement producer has also secured a two-year capital repayment moratorium. As a result, the total capital requirements for PPC Barnet DRC would be limited to interest payments from this month up to January 2020. PPC has a 69 per cent stake in PPC Barnet DRC, a joint venture with Barnet Group, which has a 21 per cent shareholding, and the In... |
PPC raises prices and volumes29 September 2017, Published under Cement NewsSouth Africa-based cement producer PPC said it improved effective selling prices in its South African cement business and is steadily increasing output at its operations in the rest of Africa. The company saw a rise in volumes of 15 and 35 per cent in Zimbabwe and Rwanda, respectively in the five months to August, according to an investor presentation at the RMB Morgan Stanley Big Five Investor Conference in Cape Town. Effective selling prices increased by two per cent in South Africa ... |
Lucky Cement updates on operations at home and away04 August 2017, Published under Cement NewsLucky Cement has provided an update on operations in the Democratic Republic of Congo, as well as capacity expansion plans in Iraq and Pakistan, during a corporate briefing organised by Elixir Securities (Pakistan) earlier this week. Stabilising market dynamics in the DR of Congo have resulted in Lucky Cement witnessing healthy growth from its operations in the central African country. As a result, the utilisation rate is expected to improve. However cement prices (currently hovering aroun... |
PPC26 June 2017, Published under Cement NewsFor the year ending March 2017, PPC saw its group revenue improve by five per cent to ZAR9641m (US$750m), compared to ZAR9187m in the previous year. EBITDA over the same period slipped by 13 per cent from ZAR2385m to ZAR2065m, while operating income fell 24 per cent from ZAR1630m to ZAR1233m. The uptick in revenue was attributed to the strength of its rest of Africa business, which saw its EBITDA increase by 19 per cent over the period. The rest of Africa cement business saw revenues adva... |
PPC achieves two major milestones as part of its expansion strategy21 April 2017, Published under Cement NewsAs part of its expansion strategy, PPC announced this week the inauguration of its Ethiopian operation, Habesha Cement, and the first truck dispatch load of saleable cement from its plant in the Democratic Republic of the Congo. The inauguration of Habesha Cement marks the completion of the construction of the factory and installment of the technical and non-technical systems.The ceremony, officiated by the Prime Minister of Ethiopia, Ato Hailemariam Desalegn, was held at the plant in Hole... |
DR Congo: cement price in Boma up 53%04 April 2017, Published under Cement NewsThe price of a bag of 50kg of grey cement in Boma, Democratic Republic of Congo, has jumped from CDF7500 (US$5.51) in February to CDF11,500 at the start of April. The price increase has led several construction sites in the port city suspending work. The hike has been attributed to the deterioration of the national currency compared to the US dollar. |
Lucky Cement sees half-year profits rise 12.5% to US$67m27 January 2017, Published under Cement NewsLucky Cement has announced that its profits rose by 12.5 per cent YoY in the last six months of 2016 to PKR7bn (US$67m). In a statement to the Pakistan Stock Exchange, Lucky revealed that it had sold 3.5Mt of cement and 235,000t of clinker during the first six months of FY17. Cement sales improved over the previous year by 5.4 per cent, while no clinker sales at all took place in the corresponding period in FY16. Cement production also rose to 3.5Mt, up six per cent on FY16, while clin... |
DR Congo: Matadi cement price falls20 October 2016, Published under Cement NewsFor the first time in a month, the price of a 50kg bag of cement has fallen in Matadi from CDF12,500 (US$12.16) to CDF8500, according to domestic news reports. The drop in price comes as a result of increased supply of cement imported from Angola. However, sales remain subdued and the Association of Independent Cement Consumers of Kongo-Central has recommended that the government removes the import tax charged at the border post of Lufu. |
DR Congo: CIMKO plant nears commerical production04 October 2016, Published under Cement NewsThis October the US$270m CIMKO plant owned jointly by Lucky Cement and Groupe Rawji located 240km (150 miles) west of the capital, Kinshasa, will start producing cement and work towards its 1.2Mta cement capacity. The project has been financed by lenders including the African Development Bank, the International Finance Corporation, Denmark’s Export Credit Agency EKF and by Habib Bank Ltd. The Democratic Republic of Congo's Prime Minister, Matata Ponyo Mapon, said his government wi... |