Regional cement producer Pretoria Portland Cement says the completion of major infrastructure projects in Zimbabwe has led to double digit declines in local sales, while exports have been hit by weakening currencies in target markets.
PPC is constructing an $80 million cement plant in Harare, which will have capacity to produce 680,000 tonnes annually.
The company has cement manufacturing plants at Cementside in Bulawayo and Colleen Bawn in Matabeleland South.
The Harare project among others in Africa is expected to boost the demand of cement products.
“The conclusion of major infrastructure projects in Zimbabwe has led to double digit declines in local sales and cement exports have also reduced significantly on the back of exchange rate effects,” said PPC board chairman, Bheki Sibiya in a trading update for the quarter October to December 2015 released on Monday.
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