info.afrindex.com
China-Africa Trade Information Service
info.afrindex.com
China-Africa Trade Information Service
Photo by lakecement.com
By Gadiosa Lamtey
Bagamoyo — Cement makers should brace for cutthroat competition as an Indian cement manufacturer plans to set up a new factory in Bagamoyo, Coast Region.
Armed with a $150 million (about Sh320 billion at the prevailing exchange rate) investment, Lake Cement Limited - which is already manufacturing the product at its Kimbiji plant in Kigamboni District - says it has what it takes to do better in the market.
Lake Cement Limited manufactures cement. The company is based in Tanzania. As of July 31, 2010, Lake Cement Limited operates as a subsidiary of Banco Products (India) Limited. Lake Cement is the newest entrant in Tanzania's cement manufacturing and marketing sector.
The company's 'Nyati Cement' brand has been in the market for two years.From its Kimbiji plant, the company is already manufacturing one million tonnes of cement per year which is sold countrywide and exported to Rwanda, Burundi and the Democratic Republic of Congo.
The new plant - to be built at Chalinze-Tarawanda area in Bagamoyo - will have the capacity of producing 1.4 metric tonnes of cement per annum.Construction of the plant will start mid 2017 and will take two years to complete.He said the new plant will use the limestone which found within the area of the project.
The company is not fazed with an increase in the number of cement manufacturers in the country, thanks to a rising demand for the product, precipitated by a number of mega construction projects that are the government's cards.
