[Source: Business Daily, by Brian Ngugi]
East African Portland Cement Company (EAPCC) says sale of land to government will bankroll its return to profitability amid a 30.7 percent surge in losses to Sh1.26 billion in the second half of 2018.
Talking at the opening event of the Homes Expo in Nairobi, board chairman Edwin Kinyua said the Athi River-based firm had finalised a land sale deal with the government that will see them hive off 900 acres of land for the establishment of Athi River Inland Container Depot.
He said a new revenue stream was also expected from land sale to the government for development of residential houses and offices for the infrastructure security team at Athi River, Machakos.
Friday, Mr Kinyua welcomed the activation of the ‘Buy Kenya Build Kenya’ policy saying the expected 80 million bags of cement deal between the government and contractors that will be hired to put up the 500,000 affordable housing units will inject new demand for cement, giving cement manufacturers a lifeline worth Sh40 billion.
[Full article: Business Daily, by Brian Ngugi]
