YAOUNDE Feb 18 German firm G Power Cement will
invest about $90 million to build an 800,000 tonnes a year plant
in Cameroon, the third cement company to set up in the country
in the last two years.
Privately-held G Power Cement will join Nigeria's Dangote
group and Moroccan house-builder Addoha group in
supplying Cameroon and the Central Africa region's booming
"We intend to begin building the factory immediately after
the foundation stone is laid some time next month," Chief
Executive Bernd Stiehl told Reuters in Yaounde on Monday.
"Once construction starts, which will cost about 45 billion
CFA francs ($91.59 million), it will take about 24 to 36 months
to be completed," Stiehl said. "The company should start
producing the first cement before the end of 2015 to be sold
firstly in Cameroon."
Stiehl said the plant would eventually step up production to
supply markets in neighbouring Central Africa Republic and Chad.
Dangote's $115 million plant is expected to
provide 1.5 million tonnes of cement when it is completed by the
end of the year, while Addoha will produce about 500,000 tonnes
per year. Construction at both plants is ongoing.
Cameroon's only existing cement maker CIMENCAM, has an
annual output of about 1 million tonnes from two plants, much
less than demand, estimated 4 million tonnes a year.
Cement demand in the country is growing at about 8 percent
per year, driven by infrastructure projects including a new deep
sea port, dams and railways as well as a boom in domestic
The cocoa and oil producing nation's economy is expected to
grow by 4.7 percent in 2013 according to a Reuters poll, after
hitting 5 percent in 2012, mostly boosted by construction and
($1 = 491.3350 CFA francs)
(Reporting by Tansa Musa; Writing by Bate Felix. Editing by