International › APA

Chinese firm to acquire cement plants in Zambia, Malawi

China’s Huaxin Cement is awaiting regulatory approvals for two transactions under which it plans to acquire controlling stakes in Zambia’s largest cement manufacturer Lafarge Cement Zambia and Pan African Cement of Malawi, APA learnt here on Tuesday.Huaxin said in a statement that it intends to spend US$160 million towards acquiring cement factories in Zambia and Malawi.

Under the deals, the Chinese firm plans to spend US$150 million on the acquisition of a 75-percent stake in Lafarge Cement Zambia from French firm Financiere Lafarge, as well as another US$10 million on purchasing Pan African Cement from Lafarge Cement Malawi.

Lafarge is one of largest cement producers in Zambia where it operates two integrated cement factories, with combined production capacity of 1.5 million tonnes per year

Pan African Cement operates a grinding plant in Malawi’s commercial capital Blantyre

If approved, the transactions would see Huaxin increasing its footprint in Africa following the recent acquisition of Tanzania’s Maweni Limestone Limited.


Tips
Published on 10.02.2021

Cameroon: La Vallée de Bana, ideal place for tourism

Located in the heart of the West region in the Upper-Nkam Division, the Bana valley commonly referred to as La Vallée de Bana (LVB) is…

More
Subscribe

Subscribe to Journal du Cameroun newsletter and receive all news stories free of charge

Diary
  • No event.
More
Back top