New plant for Angola
According to reports, a new 1.6 million tpa cement plant will be built by a three-way joint venture of Angolan and international investors. The plant, to be named Palanca Cimentos, will be located in Lobito, in Angola’s Benguela province.
Angola’s Gema will hold a 40% stake in the US$430 million plant, with Escom (Portugal) and Camargo Corrêa (Brazil) each holding a 30% stake. Local news sources say a contract was signed yesterday, 26 July 2010, in Luanda with the National Private Investment Agency (ANIP), and the laying of the first stone is scheduled for tomorrow, 28 July 2010. Construction of the plant will begin within the next four months. Once complete, the plant will produce 1.8 million tpa of clinker and will create 550 direct jobs.
Cement was the most imported product to Angola in 2009, with 10.5 million t making up almost 21% of the country’s imports. No doubt that figure will have a number of investors looking at opportunities to establish new plants in the country, or exporting from neighbouring countries.
Camargo Corrêa has made no secrets of its expansion plans. Following its takeover bid for Cimpor earlier this year, when it bought a 33% stake in the Portuguese company, Camargo Corrêa Cimentos has announced investments of R$ 14 billion to position itself among the top ten cement producers in the world by 2014. It plans to expand facilities and increase acquisitions in Brazil and Africa.
Published on 27/07/2010
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