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Thursday 13th August 2020,
Hope for Nigeria

PPC – Enter Algerian cement market

South African cement firm PPC has announced that it will buy a stake in an Algerian cement company as part of its drive to boost sales outside its home market.

PPC said that it will buy a 49% stake in Hodna Cement, which plans to construct a US$350m plant in the country. PPC did not disclose how much the deal will cost, but said that it will be funded on a project finance basis, with 80% of the debt to be sourced from local Algerian banks.

“This project sees us entering yet another African country and gives us confidence that by 2017, 40% of PPC revenues will be earned outside of South Africa,” said PPC CEO, Ketso Gordhan. PPC is also constructing cement plants in Ethiopia, Rwanda and the Democratic Republic of Congo.

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