South Africa: ARM Cement Ltd has yet to receive its directors' approval for a plan to construct a plant in South Africa.
"We have not approved any budget or plans at our board yet," said Pradeep Paunrana, managing director of ARM Cement. Mafikeng Cement, in which ARM has a 70% stake, plans to build a 3000t/day plant in South Africa.
ARM Cement is considering selling Eurobonds to help fund a planned US$300m expansion programme that will double cement production within four years, according to Paunrana.
African nations are investing heavily in the construction of ports, railways and power generation projects that will help to accelerate economic growth. Kenya's cement consumption has surged by 60% to 85.7kg/capita since 2009, while South Africa's has increased to 300kg/capita and Egypt's has reached 500kg/capita.