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Portland Cement woos State with land in bid for Sh45bn

Entrance to the East Africa Portland Cement factory in Athi River. PHOTO | FILE

Loss-making East African Portland Cement Company (EAPCC) has approached the government to acquire some of its 14,000-acre idle land as part of a strategy to raise up to Sh45 billion in new capital.

The Nairobi Securities Exchange-listed firm says it will concurrently launch a rights issue underwritten by development finance institutions (DFI), which could dilute the Treasury stake in the company, ending its status as a parastatal.

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