FIDELITY MHLANGA ZIMBABWE Stock Exchange listed building material manufacturer Turnall Holdings is pouring US$8 million into capital projects that will result in the entity introducing a new pipe investment and upgrading its existing plant.
Turnall managing director Zvidzayi Bikwa told businessdigest that the Harare plant refurbishments, among other various ancillary works pegged at US$4 million, were set for completion by September this year.
Bikwa further revealed that the company was injecting a further US$4 million on the Glass Reinforced Pipe (GRP) investments in Bulawayo.
The project is expected to be completed by the end of 2023.
“The GRP pipe investment has been US$1,5 million and will total US$4 million on completion,” Bikwa said.
“We expect it to be commissioned in the fourth quarter of 2023. The maximum plant capacity will be 300 pipes of 12-18 metre-long pipes per operating day. Sizes will range from 300 mm to 2400mm diameter pipes.”
The Turnall boss said major benefits will be to reduce product cost to the end user due to economies of scale as well as reduced transfer costs, less product handling, and more roofing options for our clients.
“The Harare plant refurbishment and upgrade will include various capital projects totalling close to US$4 million. Installation and commissioning will occur during the third quarter of this year. This will triple our capacity on roofing sheets and add innovative roofing product variations such as slates, pantiles and ecotiles,” he said.
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Bikwa took over from Rose Chisveto in December 2020.
He has acquired 22 years’ experience gained across African markets, predominantly in the fast-moving consumer goods manufacturing industry in various capacities from general manager to chief executive officer.
Bikwa was previously CEO at Pioneer Foods SA in Nigeria, managing director of Catercraft P/L, and spent 12 years at the ZSE-listed Innscor Africa as general manager.
Discussions are underway for potential investors to snap up the National Social Security Authority (NSSA) 32,5 % stake from the listed construction materials manufacturer.
