By Business Reporter
THE Ministry of Commerce, Trade and Industry (MCTI) is seeking more investors in the cement industry to help reduce the price of the commodity.
Commerce, Trade and Industry Deputy Minister Lwipa Puma said the Government this year plans to increase competition in the cement industry to push down the cement prices.
In an interview in Lusaka, Dr Puma said his ministry was targeting at reducing the prices of cement from US$12, which was equivalent to K55,200 to US$4 (K18,400) per 50 kilogramme bag.
Dr Puma said the reduction in cement prices would lead to the improvement of infrastructure in Zambia.
“The current price of cement is too high in this country at K55,200 which is equivalent to US$12 and the prospective investors who have come in are interested in investing in the cement industry offering a much more favourable price,” he said.
He said wooing more investors in the cement industry meant the market would be flooded with the commodity, therefore creating competition.
Dr Puma noted that constructors were facing challenges because of the fluctuation in the price of cement, hence making it difficult for them to complete their projects in time.
It was important to have more companies producing the commodity, which would at least ease the burden constructors were facing in the industry.
More investment was needed in the industry and that new technology should be introduced like using of cement in the construction of roads.
“ If contractors introduce the usage of cement in the construction of roads, I am very sure that we will have more stronger roads that will last for 60 years,” he said.
Dr Puma said cement had market not only in Zambia but also in other countries in the region like the Democratic Republic of Congo and Angola.