CEMENT prices are expected to drop further due to huge investments currently being witnessed in the cement production industry.
Commerce, Trade and Industry Permanent Secretary Siazongo Siakalenge said pledges that had been made in the cement production investment would lead to cement prices dropping further.
Mr Siakalenge said two Chinese investors, namely, Jidong Development Group and Sino Construction Limited, had expressed interest in setting up two cement plants in Lusaka and Ndola, respectively.
“Government signed a Memorandum of Understanding (MoU) with the two companies in China in April this year to come and invest in Zambia,” he said.
Mr Siakalenge said Sino Construction was currently in talks with Ndola Lime to establish a US$580 million and 1.5 million tonne capacity cement plant in the area.
He said Jidong Group had signed a MoU with Buffalo Consortium Limited of Zambia to establish a $420 million and 1.5 million tonnes per year cement plant in Lusaka.
“The commissioning of Dangote Cement Plant in Masaiti District on the Copperbelt is already receiving attention and more investors have pledged to invest in Zambia,” he said.
Mr Siakalenge said the Government had reformed the investment environment and that the country’s economy was competitive in the region.
Cement prices in the country had been high in the past. However, prices have dropped by K15 from the time Dangonte entered the market and the prices are expected to drop further.
Dangote Cement is doubling its investment in Zambia and is next year expected to set up another 1.5 million-tonne plant in Lusaka.