PPC sees sales increase in southern Africa
Published by Jonathan Rowland,
Editor
World Cement,
PPC’s business units in Zimbabwe, Rwanda and Botswana recorded an increase in cement sales of 9% for the nine-month period to December 2016, the company said in a trading update, after the commissioning of a new mill in Harare.
The new was completed on time and US$3 million below budget, the company said. Despite the successful commissioning of the mill, the company is facing problems securing key raw material imports because of “liquidity challenges” in Zimbabwe.
“Management is exploring various solutions to overcome these challenges,” PPC said.
In addition to completing the new mill under budget, the company also reduced its reliance on debt-funding for the project by US$20 million by using cash reserves. Original project debt was expected to be US$75 million.
In Rwanda, the company continued its steady ramp-up of cement sales, hitting 81 000 t in 4Q16 and 0.23 million t for the nine-month period to December. Cement sales in Botswana also rose by 12% in the quarter.
Despite higher sales volumes, the company reported prices “under some pressure” in all three countries, as well as its home market of South Africa, where the average selling price fell 4% in the nine-month period to December.
Read the article online at: https://www.worldcement.com/africa-middle-east/08022017/ppc-sees-sales-increase-in-southern-africa/
You might also like
Ready to revolutionise the cement industry?
Join World Cement in Lisbon, 10 – 13 March 2024, for our first in-person conference and exhibition: EnviroTech.
This exclusive knowledge and networking event will bring together cement producers, industry leaders, technical experts, analysts, and other stakeholders to discuss the latest technologies, processes, and policies being deployed at the forefront of the cement industry’s efforts to reduce its environmental footprint.
NHOA Group commissions 107 MWh energy storage project for Taiwan Cement Group
NHOA Energy’s 107 MWh battery storage is in full operation and, dispatched with 42 MW of waste-heat-recovery systems combined with 8 MWp solar PV of the cement plant, sits at the core of one of the largest industrial microgrids globally.
