Displaying items by tag: Democratic Republic of Congo
Democratic Republic of Congo: PPC (formerly Pretoria Portland Cement) has signed a Memorandum of Understanding (MOU) with the Democratic Republic of Congo's Barnet Group to build a US$230m greenfield cement plant. The project will involve building a 1Mt/yr plant and an associated quarry 20km from Kimpese in western Democratic Republic of Congo (DRC).
"This investment is another of PPC's commitments to invest in sub-Saharan Africa and we are very confident about DRC. 22% of PPC's revenue comes from outside South Africa, at present, but the target is to increase this to 40% by our 2016 financial year. We look forward to a growing contribution and partnership with the DRC in the years ahead," said CEO of PPC, Ketso Gordhan.
In its press release announcing the project, PPC noted that the existing cement market in DRC was 'severely' undersupplied. At present, the DRC has 16kg/capita annual cement consumption, the lowest in Africa, compared with the South African average of 240kg and the global average of 400kg.
For the project PPC has partnered with Jean Saidi Bamanisa, Chairman of the Barnet Group, who is also the Honorary Secretary of the Federation of Congolese Companies. He was elected Governor of the Oriental Province of the DRC. The project will take advantage of DRC's first special economic zone.
Lucky Cement plans US$240m cement plant in DR Congo
03 June 2013DR Congo: Pakistan-based cement producer Lucky Cement has announced plans to begin construction of a US$240m plant in Democratic Republic of Congo (DRC) in June 2013. Lucky Cement has a 50-50 agreement with the Rawji Group, a banking company, to start production via a company called Nyumba Ya Akiba (NYA), according to Reuters.
"Now's the time to reconstruct a country that was destroyed by civil war," said Sajid Feroze, NYA's chief financial officer.
The proposed factory, to be located around 250km from the capital Kinshasa, is due to come online in late 2015 and will produce 1.2Mt/yr, more than double the current total production in Congo. The country currently consumes just 15kg/capita/yr. Neighbouring Angola uses 300kg/capita/yr and the global average is 400kg/capita/yr said Feroze.
Earlier in May 2013, South African cement firm PPC announced it would build a US$200m cement plant in Congo.