Malawi Government is expected to collect $15 million (K15 Billion) annually from Huaxin Cement Company.
The firm which is now trading under the name Portland Cement is establishing its limestone processing plant and it will also install a clinker cement production line in Balaka.
The firm targets an annual output of about 800,000 tonnes of cement.
The total investment of the project is about $100 million (K100 billion)
This was announced when the team from Portland Cement led by Chief Executive Officer, Jianguo ‘Alex’ Liu, met minister of Trade and Industry Mark Katsonga Phiri in Lilongwe.
In his remarks Liu said at present, the company has a cement grinding station with an annual output of 250,000 tonnes in the Makata Industrial Site, Blantyre.
“When the Balaka cement production plant is fully operational it will directly open up 350 employment opportunities annually and indirectly create more than 2,000 jobs.
“The company will not only change Malawi’s reliance on imports of cement but also save more than $20 million (Over K20 billion) in foreign exchange.
“It will also export cement to neighbouring countries with an estimated annual sales volume of about 100,000 tonnes, directly generating over $15 million (Over K15 billion) in foreign exchange earnings,” Liu said.
In his remarks, Katsonga Phiri said the time of mere talking is over and he urged the company to expedite all the processes so that Malawi can close all the importation of cement and start exporting the product to generate foreign currency.
“His Excellency the President Dr Lazarus Chakwera emphasises growing the export portfolio base as the only way to sustain Malawi’s economy. For this to happen, my ministry must lead to achieving the intended results. My duty as a minister hired by the President is to make sure that the projects you are bringing into the country, are materialising. There are several crucial products that we need to prioritise as a country and some of them are cement and cooking oil,” Katsonga said.
The Portland Cement has pledged to execute its work following all laid down environmental guidelines for the safety of people surrounding its production sites and the country at large.
By our contributor.
MBCNewsLive
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