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Haitong Int'l: Chinese cement companies entering Africa open a new chapter.
Africa's demand is growing, the cement industry is relatively lagging behind, which is exactly the new infrastructure blue ocean that Chinese cement enterprises are seeking.
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Research reports | Zhongjin: Huaxin Cement intends to acquire tens of millions of tons of production capacity in Nigeria, building a bridgehead in West Africa.
The research report from china international capital corporation indicates that huaxin cement (600801.SH) plans to acquire a million-ton capacity in Nigeria, establishing a foothold in West Africa. The impact of the significant devaluation of the Nigerian naira in 2024 is relatively limited; the target company's debt-to-asset ratio at the end of Q3 2024 is 43%, which is also at a relatively stable level. The company has been deeply involved in five African countries (Tanzania, Zambia, Malawi, South Africa, Mozambique) for many years. On November 29, the Mozambique cement company's 3,000-ton daily clinker production line was ignited for trial production, and this time it has taken over the quality assets of the major shareholder at a reasonable price to create the first foothold in West Africa.
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