Fin24

PPC to build factory in Zimbabwe

2012-11-21 19:01

Johannesburg - South Africa's Pretoria Portland Cement plans to build a $200m cement factory in Zimbabwe, Business Day reported on Wednesday, citing the Zimbabwe head of Africa's biggest cement maker.

"The whole plant will be funded to the tune of $200m and will have a capacity to produce 1 million tonnes," the newspaper quoted Zak Limbada as saying.

PPC told Reuters last week it could spend up to $300m expanding further into Africa as part of plans to make as much as 50% of its revenue outside South Africa in the next year.

The company said it has not made a formal announcement about building a plant in the southern African country, where it already runs two manufacturing plants.

"We will look to pursue investment opportunities in Zimbabwe. We are hoping that by Q1 2013, we can make an announcement on two of the four deals that we are pursuing," spokesperson Kevin Odendaal told Reuters.

Comments
  • alayren - 2012-11-21 20:34

    zim...are they mad

      munyaradzi.tachiona - 2012-11-21 22:11

      you know nothing my friend just like many commenting here,do you know AMPLATS wants to open another mine there valued 400 million American dollars even when they are ceding 51% percent stakes,my friend Zimbabwe has an educated workforce,disciplined,hardworking ,the best in Africa,and apart from that no violent strikes ,in the mining industry the resources are not too deep,they are no deep mines and that is good for mines as they save costs,currently economy is dollar based and it makes sense from procurement and operational point of view in cutting costs,though a lot has been said negatively about Zimbabwe ,the country is still far much better than other African countries in terms of infrastructure,all these things investors look at,The Empowerment of locals is a fact that they have learned to accept as elsewhere it is applied eg Botswana,Angola so Zim is not an exception,the problem is you guys you see things through the eyes of the media and propaganda,Investors do not do that they get on the ground hence they are already working on the site to determine ,remember they are active there contributing to lots of profits for PPC,You also need to know other South AFRICAN companies are doing well there like SAB Miller,AMPLATS,ANGLOPLATS,BAT TOBACCO(BRITISH )RIO TINTO,METALLON ,LA FARGE (FRENCH) METALLON GOLD S.A,PICK N PAY among many others.

      taffaz.banhwa - 2012-11-21 23:22

      You don't know anything my friend!!your mind Is nothing but full of propaganda!!behave lyk a reasonable person not jus making noise with baseless, nagative utterances propelled by your alignment to media frenzy!!

      simbarashe.manhanga.5 - 2012-11-22 06:26

      not mad but very clever. This plant will be done in 3 or so years and by then stability after the election would have been achieved. These guys, with plenty of highly paid advisors and acturial scientists, would not arrive at such a decision lightly. You dont make money by reading and trusting all you are told in the media. The question should be why not? The american, british, chinese, russian and other companies based in other western and eastern countries are there already as well as PPC itself. Something must be working for all these companies to remain there despite the frenzy by the media

      makarapakaplan - 2012-11-22 17:58

      What are the chances the 3 posts above are from zim ppl now "residing" in South Africa? If its so good why are u here?

  • Sibusiso - 2012-11-22 02:16

    So PPC doesn't fear indigenisation?Well ,no surprise.I believe PPC understands that there is a difference between indigenisation and nationalisation.

  • lovemore.kamupira - 2012-11-24 10:00

    Let's stop fighting and live as one people nobody is mad nobody is clever we need solutions to save our Africa.

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