Sinoma Group a new Chinese cement company will build a $500million plant in the Lusaka South Multi Facility Economic Zone by 2018. This will give Dangote and Lafarge Cement brands a good run for their money. It is expected that with the coming of another cement manufacturer the price of the commodity in the market will lower drastically. Sinoma has promised the Zambian people $3 cement for a 50kg bag. The market price of cement is currently between $6 to $7.5 for a 50kg bag.
‘Our people want cheaper cement so that construction costs fall. We need this plant to be operational as soon as possible so that we can build more roads, schools and infrastructure,” Minister in the Vice Presidents Office Sylvia Chalikosa said.
Sinoma Group has hired 450 locals and has promised to double the number to a 1000 as soon as production commences.
The coming of an additional cement plant is welcome as it will foster competition to force pricing lower. It will also promote the industrialization commitment of the governmemt aligned to its 2016/2017 budget objectives of diversification into manufacturing.
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