PPC subsequently acquired shares from the other shareholders to take the original 27% to 31% and is in the final stages of acquiring the IDC’s 20%, which will result in a stake of a PPC stake of 51%.
The additional equity injection may be made pending the capital requirement to finalize the project.
HCSC is the first cement share company of its kind in Ethiopia, with more than 16 000 local shareholders. The company Built a state-of-the-art cement plant with an annual capacity of 1.4 million cement tons. Work is currently underway to confirm capital costs and timeframes.
The HCSC plant, which is currently Operational, is located 35km north west of Addis Ababa, close to Holeta town in Oromia Regional State. Cement production Has commenced Q3 2017 .
HCSC plant’s immediate future development plan includes an option to double the capacity to 2.8 million tons per annum.
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