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News Savannah Cement associate raises US$480m to build new clinker plant

Savannah Cement associate raises US$480m to build new clinker plant

Written by Global Cement staff 18 April 2023
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Kenya: Savannah Clinker, an associate company of Savannah Cement, has raised around US$480m to build a new integrated cement plant in Kitui county. It said it generated the funding through a privately placed debt arrangement with the bond set to be listed at regulated international exchange, according to the Business Daily newspaper.

Benson Ndeta, chairman of Savannah Cement Group, said “I am extremely proud to have the support of a major international investor who shares our vision and beliefs in what is required to deliver the growth and development of our key infrastructure and affordable housing.”

It was announced in December 2022 that China-based Sinoma International Engineering had been contracted to build the 2.92Mt/yr plant with a completion date planned for late 2024.

Last modified on 19 April 2023
Published in Global Cement News
Tagged under
  • Kenya
  • Savannah Cement
  • Savannah Clinker
  • Plant
  • corporate
  • Investment
  • China
  • Sinoma International Engineering
  • GCW604
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