A new cement plant that will produce 2.2 million tonnes/year is due to be constructed in Algeria thanks to a partnership between Hodna Algerian Cement Company and South African firm PPC.
Abdelkrim Mansouri, director general of the Algerian National Development Agency for Investment (NDAI), says that construction of the cement plant will begin soon as all the administrative procedures had been finalised.
The new cement plant project will cost US$287 million – 80% financed by Algerian banks and the two joint venture partners will contribute 20%. PPC had earlier said that the commissioning of the project was expected by the fourth quarter of 2016.
It’s said that the project will be undertaken in accordance with rules stating that foreign companies can only take up to 49% ownership of Algerian-based investments.
PPC CEO Ketso Gordhan had last year said that the new project would generate 40% of PPC revenue earned outside of South Africa.
Southern Africa countries, outside South Africa, where PPC has major operations include Botswana and Zimbabwe.
