Cimerwa has acquired a letter of credit from Kenya Commercial Bank (KCB) Rwanda to enable it to purchase new equipment for the new plant. In an interview with Rwanda’s Business Times, Fiacre Birasa, CEO of Rwanda Investment Group (RIG) confirmed that the letter of credit worth Rwf 26 million will boost the company’s capital to order equipment from China. The dry process plant will be operational by the end of 2011. The CEO said that the new plant will open up new markets in the region and make Cimerwa more competitive. The present plant is still using the wet process that consumes a lot of energy.
Birasa also said that with peat production underway, it will help to trim energy costs, especially as the company is targeting to convert the 100 000 t plant to consume 80% peat and 20% fuel technology. He mentioned that feasibility studies about the peat project have shown that Rwanda has the capacity to produce enough peat that can be used as an alternative source of energy for households and industries.
RIG has the majority stake in Cimerwa, where it plans to increase its production capacity to 600 000 tpa.
Read the article online at: https://www.worldcement.com/africa-middle-east/27082010/cimerwa_to_purchase_new_equipment_from_china/