PPC - PPC Capacity Expansion
PRETORIA PORTLAND CEMENT COMPANY LIMITED
(Registration number 1892/000667/06)
JSE code: PPC
ISIN : ZAE000005559
(`PPC` or `the company`)
PPC CAPACITY EXPANSION
In the light of recent and future anticipated cement demand growth, and the
planned future retirement of older PPC production lines, the PPC Board has
resolved to commence with the planning for and broad approval in principle of, a
1 million tonne per annum cement capacity expansion project for the inland
region of South Africa.
The board has accordingly approved capital expenditure of R6m to be incurred in
the first phase of planning the expansion during the forthcoming financial year
to 30 September 2005. This will include the scoping of the project and the
updating of equipment prices to ascertain the total project cost. The project
will most likely be a `brownfields` project (an expansion of an existing
facility) and the estimated present day value is approximately R750m. This
excludes inflation, project management and commissioning costs and finance
during construction.
The project and its cash flow will most likely span the 2006, 2007 and 2008
financial years. A further announcement will be issued when the project is
finally approved and before any major commitments are made.
Sandton
24 August 2004
Sponsor
Cazenove
Date: 24/08/2004 02:15:02 PM
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