Luanda, Angola, 26 Oct – The Angolan cement industry produces just 1.5 million tons of cement, which is not enough to meet the current estimated demand of 4 million tons per year, the chairman of Nova Cimangola, Rui Ferreira said in Luanda Thursday.
Speaking at a press conference about the recent price rise of cement from 800 to 1,500 kwanzas per bag, Ferreira said that this was due to increased demand due to much reconstruction work and the country’s development.
He also said that cement had a supply deficit of 2.5 million tons per year and that Nova Cimangola itself could not fill the gap despite investment of US$200 million for construction of a new oven that will increase installed capacity to two million tons per year.
For that reason, he said, the Goevrnment had granted permission for construction of new cement factories in the provinces of Luanda and Benguela.
Ferreira also said that Nova Cimangola had agreed the wholesale price of a bag of cement at 679 kwanzas, and that adding a 17 percent profit margin would take the market price to 800 kwanzas per 50 kilogram bag.
Nova Cimangola annually produces 1.2 million tons of cement and Secil do Lobito produces 300,000 tons, making a total of 1.5 million tons per year. (macauhub)