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PPC share price surges 9.5% after board green lights R3bn cement plant in Western Cape
Cape Times
|March 28, 2025
PPC, which this week announced a massive solar power project, saw its share price surge by 9.5% on Thursday morning after its board approved plans to build a R3 billion cement plant in the Western Cape.
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The board also greenlit PPC’s entry into an engineer, procure, and construct (EPC) contract with Sinoma Overseas Development Company, a leading global cement equipment and engineering firm, for the construction of the plant.
PPC announced in January that it was conducting feasibility studies on a new state-of-the-art integrated cement plant, with construction expected to start in the second quarter of 2025 and commissioning anticipated by the end of 2026.
The share price traded at R4.61 on Thursday afternoon, representing a 21.3% increase from R3.80 a year ago.
Ahead of a capital markets day for investors on Thursday, the board stated that they had approved the R3bn capital expenditure after considering PPC’s capital allocation criteria and its two times net debt to EBITDA (earnings before interest, tax, depreciation, and amortisation) covenant.
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