M a r k e t N e w s
ARM Cement to increase investments in East Africa
Posted on : Wednesday, 10th December 2014
East African cement maker ARM Cement has announced an increase in investments across the region as the demand for cement continues to rise.
A statement from the company revealed that ARM Cement will complete some pending projects this year, and begin new ones in 2015.
The company, which has plants in Kaloleni and Athi River in Kenya, as well as Dar es Salaam and Tanga in Tanzania, will complete one more grinding plant in Tanga in 2015. The Tanzanian plant has the capacity to produce 2,500 tonnes of cement daily.
In July 2014, ARM Cement acquired Rwanda’s Kigali Cement for an estimated US$1.2mn. The company, which formerly owned 35 per cent stake in Kigali Cement from 2011, purchased the remaining 65 per cent from various stakeholders.
According to Pradeep Paunrana, chief executive of ARM Cement, the acquisition of Kigali Cement and completion of Tanga Cement is part of the company's expansion plans in East Africa. “Our next major growth will be in Kenya, a growing market that is still heavily reliant on imported clinker,” he said.
Source : africanreview.com
