News / National
PPC blames cement shortages on panic buying
03 Jun 2021 at 03:35hrs | Views
Zimbabwe's largest cement maker, PPC Zimbabwe says artificial shortages created by customers engaging in panic buying is adversely impacting on the country's construction industry, Business Times can report.
The crisis, which has seen cement being diverted to the black market where it is fetching higher mark ups, has the potential to dent Zimbabwe's construction industry recovery.
"Artificial shortages are damaging to Zimbabwe' goals and progress, as cement stocks are often diverted towards the black market in that case. PPC products underpin the efforts of many to uplift local infrastructure, and PPC will continue to play its part," PPC Zimbabwe managing director, Kelibone Masiyane, said in a statement.
"We all play a part in ensuring the market's stability by avoiding engaging in panic buying and hoarding purchase behaviours, which create artificial cement shortages," he said.
Masiyane said PPC Zimbabwe was fully committed to the local market and current cement stocks were sufficient to meet local demand.
PPC Zimbabwe has a milling capacity of over 1.4m tonnes of cement per annum.
It operates a clinker plant at Colleen Bawn in Gwanda, and cement milling plants in Harare and Bulawayo.
Masiyane said PPC has been instrumental in supplying phase 1 of the recently completed Beitbridge to Harare road rehabilitation.
"PPC's superoad and surecem cement have been used to build Zimbabwe's roads, highways and infrastructure for the future, from Zambezi to Limpopo.
"Phase 2 of the project is ongoing with over 32% of the phase completed. Through industry-first products and services, PPC recognises its important role as a manufacturer at this moment in Zimbabwe's history and efforts towards Vision 2030," Masiyane said.
Another noteworthy project at Hwange Thermal Power Station is currently in progress, utilising world-class PPC suretech cement, Masiyane said.
With the help of this high-quality and dependable general-purpose cement, the project is over 60% complete.
He said the focus cannot be on today alone, but on a vision for tomorrow's Zimbabwe and her people. PPC said roads, hospitals and schools are critical to the health, prosperity and quality of life of Zimbabweans.
PPC Zimbabwe has various ongoing projects which are Causeway Dam construction in Marondera, Manyame Air Base Hospital, National University of Science and Technology student accommodation and R.G. Mugabe International Airport refurbishment.
Masiyane said as Zimbabwe works towards Vision 2030, PPC will continue to strengthen its partnership with the government, in order to tackle any challenges that stand in the way of Zimbabwe's development and prosperity.
PPC Zimbabwe believes that it has a role to play to invest in the development of the people of Zimbabwe and its communities.
With so many factors impacting the nation's economy, PPC is committed to its ongoing partnership with the government in support of the road rehabilitation programme.
Masiyane said the business has both capacity and sufficient stock to ensure the successful completion of the programme.
The crisis, which has seen cement being diverted to the black market where it is fetching higher mark ups, has the potential to dent Zimbabwe's construction industry recovery.
"Artificial shortages are damaging to Zimbabwe' goals and progress, as cement stocks are often diverted towards the black market in that case. PPC products underpin the efforts of many to uplift local infrastructure, and PPC will continue to play its part," PPC Zimbabwe managing director, Kelibone Masiyane, said in a statement.
"We all play a part in ensuring the market's stability by avoiding engaging in panic buying and hoarding purchase behaviours, which create artificial cement shortages," he said.
Masiyane said PPC Zimbabwe was fully committed to the local market and current cement stocks were sufficient to meet local demand.
PPC Zimbabwe has a milling capacity of over 1.4m tonnes of cement per annum.
It operates a clinker plant at Colleen Bawn in Gwanda, and cement milling plants in Harare and Bulawayo.
Masiyane said PPC has been instrumental in supplying phase 1 of the recently completed Beitbridge to Harare road rehabilitation.
"PPC's superoad and surecem cement have been used to build Zimbabwe's roads, highways and infrastructure for the future, from Zambezi to Limpopo.
Another noteworthy project at Hwange Thermal Power Station is currently in progress, utilising world-class PPC suretech cement, Masiyane said.
With the help of this high-quality and dependable general-purpose cement, the project is over 60% complete.
He said the focus cannot be on today alone, but on a vision for tomorrow's Zimbabwe and her people. PPC said roads, hospitals and schools are critical to the health, prosperity and quality of life of Zimbabweans.
PPC Zimbabwe has various ongoing projects which are Causeway Dam construction in Marondera, Manyame Air Base Hospital, National University of Science and Technology student accommodation and R.G. Mugabe International Airport refurbishment.
Masiyane said as Zimbabwe works towards Vision 2030, PPC will continue to strengthen its partnership with the government, in order to tackle any challenges that stand in the way of Zimbabwe's development and prosperity.
PPC Zimbabwe believes that it has a role to play to invest in the development of the people of Zimbabwe and its communities.
With so many factors impacting the nation's economy, PPC is committed to its ongoing partnership with the government in support of the road rehabilitation programme.
Masiyane said the business has both capacity and sufficient stock to ensure the successful completion of the programme.
Source - Business Times
