Holcim Divests East African Cement Businesses for $120 Million

17 Nov 2023 CW Team

Swiss building materials giant Holcim has agreed to sell its Ugandan subsidiary, Hima Cement, to the local conglomerate Sarrai Group for $120 million. Additionally, Holcim will divest its 65% stake in Tanzania's Mbeya Cement Company to Amsons Group for an undisclosed sum. These transactions are part of Holcim's strategy to focus on its core markets. Both deals are subject to regulatory approval.

Hima Cement, headquartered in Kasese, Uganda, is jointly owned by Holcim (70%) and Cem Holdings Ltd (30%). Holcim Group, with subsidiaries in over 80 countries, is a global leader in building materials manufacturing.

Operating two factories in Kasese, Western Uganda, Hima Cement is the country's second-largest cement producer, with an annual output of 2 million metric tonnes, accounting for 28% of national production. At least 20% of Hima's cement is exported to neighboring countries.

In 2018, Hima Cement expanded its operations by opening a new $40 million cement factory along the Tororo-Mbale Soroti Road, increasing its total production capacity to 1,900,000 tonnes annually. The company also owns a limestone quarry in Kamwenge district, ensuring a sustainable supply of raw materials until 2036.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..