Athi River Mining Cement secures Sh4.5bn credit
Athi River Mining Cement has secured a Sh4.5 billion credit from CfC Stanbic Bank Limited. “We are very pleased to have finalised this facility,” said Athi River Mining’s MD Pradeep Paunrana. “Now that our Tanga clinker plant is commissioned, ARM is well on its way to becoming East Africa’s leading cement manufacturer, and part of the reason for this progress is the way we have been able to exploit the increasing sophistication of the financial sector.
ARM is boosting its financial muscle at a time when demand for cement in Kenya and the East African region outstrip supply.
Available figures indicate that an estimated $93 billion needs to be spent over the next decade to bridge the infrastructure deficit in Kenya and the East Africa region.
ARM Cement Limited was established in 1974 as a mineral, extraction and processing company. It was listed at the Nairobi Securities Exchange (NSE) in 1997. Its primary business is cement with ancillary businesses in industrial minerals, lime, fertiliser, sodium silicate and special building products. It has a market capitalisation of Sh41 billion.