A new R1.65-billion cement manufacturing plant is to be built north of Brits, in Limpopo. The venture is to be part owned by the black-owned Women Investment Portfolio Holdings group (Wiphold), limestone-miner Continental Cement (Conticem), Jidong Development Group and the China-Africa Development Fund (CADFund).

Jidong, the largest cement producer in Northern China, and CADFund will hold 51% of the joint venture (JV), with Wiphold’s share at 23,9%, and Conticem, at 25,1%.

A memorandum of understanding has been signed by all parties and the plant is expected to be able to produce 2500tons/day of ordinary Portland cement.

The deal would see foreign direct investment of more than R800-million flow from China, of which 45% would be equity investment, with the remaining 55% in the form of commercial debt.

Reported by Engineering News