Cement News tagged under: Zimbabwe

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Zimbabwe: PPC's Harare plant to create growth opportunities

15 September 2016, Published under Cement News

Pretoria Portland Cement (PPC) Zimbabwe says its new US$75m Harare plant wil be commissioned at year-end. PPC Zimbabwe Managing Director, Kelibone Masiyane, told NewsDay all was set for the biggest project to roar into life by the end of the year. The new facility will produce 0.68Mta of cement. "The Harare Msasa project is at an advanced stage, with commissioning already in progress and plant handover is on schedule for year-end," he said. "The new plant in Harare creates opportunities f...

Zimbabwe: SZCC demands deeds to land

13 September 2016, Published under Cement News

Sino-Zimbabwe Cement Company (SZCC) has requested that government grant it the title deeds for Indiva Farm, where the company is located. The state-owned Industrial Development Corporation of Zimbabwe (IDCZ) provided SZCC with the land in 2001 when it first began operations, however the deeds were never officially transferred to the company and therefore Indiva Farm is still considered state land. As a result SZCC claims it is failing to access lines of credit on the grounds of the absenc...

Zimbabwe: SZCC considers cutting shifts as downturn hits sales

09 September 2016, Published under Cement News

The Sino Zimbabwe Cement Company (SZCC), which operates an integrated plant in Gweru in central Zimbabwe, has said that it is considering reducing the number of shifts at the facility from three to just one in the face of declining sales. Zimbabwe’s economy has suffered from a prolonged drought, while manufacturers have also had to contend with smuggled cement from South Africa. Speaking to the Business Chronicle, SZCC managing director, Wang Yong, said: “We have a significant decrease...

Chinese firm invests in Zimbabwe

26 August 2016, Published under Cement News

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 unemploym...

PPC

24 August 2016, Published under Cement News

Following S&P Global Ratings slashing PPC’s rating to ‘junk’, PPC shareholders have unanimously approved a ZAR4bn (US$285m) capital raising to help relieve short-term pressure on the company’s balance sheet. PPC’s debt is expected to reach ZAR10-12bn by 2017. This comes hot on the heels of news that the company’s share price has halved during 2016 so far to ZAR7.92. Despite this, the company’s new plant in Zimbabwe remains on track for completion this year. Riots in the country and restri...

Zimbabwe: Future of proposed Charumbira plant remains uncertain

05 August 2016, Published under Cement News

Plans to build a US$50m cement plant in Charumbira have been called into question after it was admitted that the Chinese investor behind the project had yet to submit a feasibility report. The plant is to be built by the Sino Zimbabwe Cement Company, which saw a 15 per cent fall in sales in the first quarter of 2016. According to reports in News Day, provincial administrator Felix Chikovo said: “The point of entry before any mining commences or any people are resettled is based on a re...

PPC Zimbabwe plant project on track

03 August 2016, Published under Cement News

According to CEO, Darryll Castle, the construction of PPC’s new plant in Zimbabwe remains on track for completion in 2016, despite riots in the country and restrictions remaining on some South African goods. The new mill, with an expected capacity of 0.7Mta, is crucial to reducing the company’s costs, Mr Castle said. "Even if the volume is not required because Zimbabwe’s economy slows, the project still makes sense from a cost-optimisation process." This project in Zimbabwe is one of four...

PPC

29 June 2016, Published under Cement News

In the six months ended 31 March, 2016, PPC saw its group revenue dip by one per cent to ZAR4.5bn (US$294.01m). Group EBITDA was up by two per cent to ZAR1.1bn with an EBITDA margin of 25.4 per cent, mainly due to improved efficiencies and cost savings as part of the company’s Profit Improvement Programme. The programme, which aims to deliver ZAR400m by 2017, generated ZAR178m in the six months in question, taking the running total to ZAR390m. According to the company, this has mainly been a...

Dangote Cement

25 May 2016, Published under Cement News

Dangote could come under fire from calls for the Zimbabwe government to impose tariffs on imported cement. The country’s local producers have expressed concern that the influx of cheap imports could make recouping their investments difficult. PPC, for example, has invested US$53m on kiln and mill upgrades and quarry optimisation at its two existing operations and is in the process of setting up a new grinding plant at a cost of US$80m. Meanwhile, Sino Cement has spent a total of US$15m in...

Zimbabwe: Sino Zimbabwe sales decline

16 May 2016, Published under Cement News

Sales for Sino Zimbabwe Cement Company (SZCC) have declined by 15 per cent in the first quarter, in comparison with the same period last year. A further decline in sales this quarter has been projected by the company, which has cited a difficult operating environment and liquidity problems as some of the reasons for the decline. Wang Yong, SZCC managing director, said that the situation had been worsened by the smuggling of cheaper cement, mainly from South Africa. He also said a poor agr...