Thursday, July 26, 2012

South Africa’s PPC invests in Ethiopia’s Habesha Cement

Habesha cement Share co Ethiopia

South Africa's Pretoria Portland Cement (PPC) and Industrial Development Corporation (IDC), a state investment body, will together pay $21m for joint acquisition of a 47% stake in Ethiopia’s Habesha Cement Share Company.
PPC, which is aiming to earn as much as half of its revenue from outside South Africa in the next few years, said in a statement on Wednesday it will pay $12-million in cash for a 27% stake in Habesha .

South Africa’s Industrial Development Corporation will simultaneously invest $9-million for a 20% stake in habesha, which is building a 1.4-million-ton cement plant at a cost of $130-million near Addis Ababa. Habesha Cement has also secured $86m in debt financing from the Development Bank of Ethiopia

Ethiopia is the second-most populous country in sub-Saharan Africa.

1 comment:

  1. Apparently this is quite different as well as new for me to get this knowledge.