GWERU, March 27 (The Source) – Cement maker Sino-Zimbabwe will spend up to $5 million in capital expenditure this year to double its output from the current 300,000 tonnes annually by year end, a company official has said.
Speaking to The Source, managing director, Wang Yong said his company feels there are opportunities for growth and the investment would allow it to meet demand.
“Our internal budget is between $3 to $5 million. And we are planning to bring in more investment from China which I cannot disclose at this moment,” said Yong.
In 2013, the company increased its clinker production capacity by 40 percent to 700 tonnes per day after upgrading its plant at a cost of $4,1 million and has been upgrading equipment to largely automate the manufacturing process.
The investment has been the major driver for growth, Yong said but did not disclose revenue or sales figures.
There are plans to scout for outside markets for its products, although a final decision is yet to be made, he added.
Sino-Zimbabwe is a joint venture company between the Industrial Development Corporation of Zimbabwe (IDCZ) and China Building Materials Corporation (CBMC) which started operating in 2001.
It is the third cement manufacturer in the country after PPC in Bulawayo and Lafarge in Harare.