Localisation move hailed as PPC leaps on new rule for cement
The local content designation of cement will apply to all projects entered into by SOEs as well as national, provincial and local authorities
11 October 2021 - 15:38
UPDATED 11 October 2021 - 23:07
The Treasury has banned the use of imported cement on all government-funded projects, prompting the biggest surge in more than two months in the share price of local cement giant PPC, and praise from the body representing local producers.
A circular issued by the Treasury this month to all relevant state departments notified them that in terms of its preferential procurement regulations no imported cement can be used on projects funded by the government as of November 4...
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