In an endeavour to reduce operational costs, the Tanzania Portland Cement Company Limited (TPCC) plans to have gas plant are expected to be realised this year.
The TPCC Managing Director, Mr Alphonso Rodriguez, said in Dar es Salaam during the 23rd Annual General Meeting (AGM) that arrangements were underway with a third party to build a gas plant at TPCC.
Once completed, he said the company will be assured of reliable supply of power to meet its operational demands.
Over the years, the power supply has been erratic, impacting heavily on the company’s capacity to meet its objectives. TPCC current demand is rated at 32MW and the gas plant would then come as an extra source of energy to compensate additional requirements and current fluctuations in power supply.
“The company’s investment in alternative sources of energy will ensure the reliability and quality of power supply,” he said adding that the initiative will contribute significantly to lowering the cost of doing business.
On Monday, the TPCC which trades on the Dar es Salaam Stock Exchange (DSE) as TWIGA had 20 shares in its counter transacted at weighted average price of 3,850/- per share in one deal.
During the period under review, TPCC saw its profitability jump to 54.5bn/- compared to 37.6bn/- of the previous year. Similarly, its sale volume rose by 15 per cent.
The positive performance was based on variable cost reduction and fixed cost contention. TWIGA Cement shareholders have a reason to smile following recommendation of directors of final dividend of 267/- per share (including 70/- per share paid as interim dividend) compared to 195/- paid in the year 2013.
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