Finance Minister Felix Mutati says government will next year set up a new cement plant in Lusaka East which will be double the capacity of Dangote’s investement.
Speaking in parliament yesterday, Mutati also said another cement plant equal to Dangote cement plant would be set up at Ndola lime in two years time.
“The house may wish to know that next year, in Lusaka east, a new major cement plant will be operational with double the capacity of Dangote, bringing a lot more cement on the market. And in two years time, Ndola lime will also have a cement plant which will be equal to the capacity of Dangote. So with the increased capacity, Mr Speaker, we see that the impact of pricing is going to be tremendous. So for us the answer is to continue encouraging investment in the cement sector as a critical and major influencer on the pricing,” he said.
Mutati said government was certain that increased cement production would lower the price of the commodity.
“The principal function of pricing for cement lays in the supply. When Dangote cement came into the market, the price of cement drastically climbed down. We have in the mean time also Mr Speaker, encouraged substantial investment in the cement manufacturer,” said Mutati.