“Our ‘Awakening the Giant’ turnaround strategy continues to advance across the group. This includes particularly the Zimbabwean operations, where we believe there are additional, and significant, opportunities to be unlocked internally, together with exciting potential for future growth. Like we recently did in South Africa, it is now time to work with Sinoma Overseas to improve efficiencies at our current plants and to seriously assess the feasibility of the construction of a new integrated cement plant in the country” – Matias Cardarelli, PPC CEO
The leading Southern African supplier of cement and related products, PPC Limited (PPC), has today signed a Memorandum of Agreement (MoA) with
Sinoma Overseas Development Co. Limited (Sinoma Overseas) to cooperate on various initiatives aimed at enhancing efficiencies and expand production capacity at PPC Zimbabwe (Private) Limited (PPCZ).
While the key short-term objective is to improve efficiencies and increase clinker and cement production at the current PPCZ’s Zimbabwean operations, the collaboration will also extend to an assessment of the capital expenditure and investment requirements to potentially increase clinker and cement production from current levels by building a new integrated cement plant in Zimbabwe.
PPC CEO, Matias Carderelli commented, “The signing of this MoA is of key strategic importance to PPC. We are the leading cement producer in Zimbabwe, with an excellent footprint and we are operating in an environment where the construction sector is showing solid growth potential. PPCZ’s cement sales and results have increased over the past two years, and we are now starting to prepare ourselves for the next growth phase.”
PPCZ Managing Director, Ndima Rawana, commented, “We are looking forward to working with Sinoma Overseas, which is the world’s leading integrated solutions provider for cement technology, equipment and engineering services, and being able to benefit from their vast experience and expertise. Collectively, we aim to improve efficiencies and production levels at our current assets and potentially establishing new clinker and cement production capacity in Zimbabwe.”
This step further aligns PPCZ with the PPC group’s strategic intent. The Awaken the Giant turnaround is based on unlocking internal value and pursuing value accretive strategic projects to deliver sustainable profitable growth for the benefit of all stakeholders.
Any potential new projects in Zimbabwe will be assessed strictly in line with the PPC group’s capital allocation framework and will remain subject to PPC and PPCZ’s rigorous internal and external investment hurdles and approval processes.
