PPC has signed a Memorandum of Agreement (MoA) with Sinoma Overseas Development Co. Limited to collaborate on several initiatives related to PPC Zimbabwe.

In the short term, the focus will be on improving operational efficiencies and increasing clinker and cement output at PPCZ’s existing Zimbabwean facilities. The agreement also includes a joint assessment of capital and investment needs to evaluate the feasibility of expanding capacity, including the potential construction of a new integrated cement plant in Zimbabwe.

“The signing of this MoA is of key strategic importance to PPC. We are the leading cement producer in Zimbabwe, with an excellent footprint and we are operating in an environment where the construction sector is showing solid growth potential. PPCZ’s cement sales and results have increased over the past two years, and we are now starting to prepare ourselves for the next growth phase,” comments CEO Matias Cardarelli.

PPC says any potential new projects in Zimbabwe will be assessed in line with its capital allocation framework and subject to PPC and PPCZ’s approval processes.

The partnership aligns PPCZ with the PPC group’s ‘Awaken the Giant’ turnaround strategy.