HomeBusiness DigestCircle in US$3m upgrade

Circle in US$3m upgrade

Roadwin Chirara

CEMENT manufacturer, Circle Cement Ltd is spending US$3 million in a refurbishment exercise meant to improve efficiency.

al, Helvetica, sans-serif”>Circle managing director Isaiah Bingwa said the exercise included putting up new structures, such as a new cement shell.

“We are putting up a new section of the kiln and a new cement shell,” said Bingwa.

He said this would enable the company to meet market demand and operate effectively.

Bingwa said their parent company, Larfarge, was guaranteeing the loan.

“Our parent company has guaranteed our loan from Standard Chartered Bank and we are going to pay back that amount,” he said.

Bingwa said Circle had put in place measurers to ensure the availability of cement during the period his company was closed.

“We have been building up stock to ensure that cement is available in the market,” said Bingwa.

He said the company’s sales on the export front had been slow but local sales were encouraging.

“We have been having very little exports of late, but local sales have been slow but encouraging,”he said.

Bingwa said the company was currently exporting to Malawi and hoped to venture in growing markets such as Mozambique.

He however voiced concern over the price of cement locally, saying it was due for a review.

“We have applied to the ministry to allow us to review the price of the commodity since operational cost have increased significantly and we are still awaiting their response,” Bingwa said.

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