Zimbabwe: PPC has signed a Memorandum of Agreement (MoA) with Sinoma Overseas Development to collaborate on efficiency improvements and expansion of its cement and clinker production capacity in Zimbabwe. The agreement provides for the two companies to work together on initiatives to enhance operational efficiencies at PPC Zimbabwe, while also assessing the feasibility of constructing a new integrated cement plant in the country.
PPC’s CEO Matias Cardarelli said the agreement marked an important milestone in the group’s broader turnaround strategy. “Our ‘Awakening the Giant’ turnaround strategy continues to advance across the group,” said Carderelli. “This includes particularly the Zimbabwean operations, where we believe there are additional and significant opportunities to be unlocked internally, together with exciting potential for future growth.” He added that Zimbabwe remained a strategically important market for PPC due to its growth prospects and strengthening construction sector activity.
PPC said any future investment projects in Zimbabwe, including new integrated cement plants, would be assessed under the group’s capital allocation framework and would remain subject to internal and external investment approval processes.
