PPC to build $200m factory in Zimbabwe

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21-11-2012
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Moneyweb
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Will have a 1m tonne capacity.

JOHANNESBURG - South Africa's Pretoria Portland Cement (PPC) plans to build a $200 million 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 $200 million 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 $300 million expanding further into Africa as part of plans to make as much as 50 percent 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," spokesman Kevin Odendaal told Reuters.