{"id":36611,"date":"2022-12-13T22:31:43","date_gmt":"2022-12-13T22:31:43","guid":{"rendered":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-to-fetch-mk15bn-from-local-cement-tax-annually"},"modified":"2022-12-13T22:31:43","modified_gmt":"2022-12-13T22:31:43","slug":"malawi-to-fetch-mk15bn-from-local-cement-tax-annually","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-to-fetch-mk15bn-from-local-cement-tax-annually","title":{"rendered":"Malawi to fetch MK15bn from local cement tax annually"},"content":{"rendered":"

Africa-Press – Malawi. <\/strong><\/span>There is hope that very soon Malawi government will be collecting about US$15 million (about MK15 billion ) from Huaxin Cement Company currently trading under the name Portland Cement.<\/p>\n

The company is establishing their own limestone mining rights to build a new dry-process clinker cement production line in the Balaka area with an annual output of about 800,000 tons of cement.<\/p>\n

The total investment of the project is about US$100 million (about MK100 billion) This was announced when the team from Portland Cement led by Chief Executive Officer Jianguo \u2018Alex\u2019 Liu met minister of Trade and Industry Mark Katsonga Phiri in Lilongwe. Liu said currently the company has a cement grinding station with an annual output of 250,000 tons in the Makata Industrial Zone of Blantyre.<\/p>\n

\u201cAfter production and operation, the Balaka Cement Production site will directly drive about 350 employment opportunity every year, and indirectly drive more than 2,000 jobs. The company will not only change the situation of Malawi\u2019s reliance on imports of cement, and save more than 20 million US dollars in foreign exchange.<\/p>\n

\u201cIt will also export some cement to neighboring countries, with an estimated annual sales volume of about 100,000 tons, directly bringing back about 15 million US dollars in foreign exchange income,\u201d Liu added.<\/p>\n

In his remarks, Trade and Industry Minister Mark Katsonga Phiri said time of mare talking is over and he urged the company to expedite all the processes so that Malawi can close the importation of cement from outside and and start exporting more to generate foreign currency.<\/p>\n

\u201cHis Excellency the president Dr Lazarus Chakwera emphasizes full exportation of goods as the only way to sustain the Malawi\u2019s economy and for this to happen, this ministry must lead to achieve the intended results.<\/p>\n

\u201cMy duty as a minister hired by the state president is to make sure that the projects you are bringing In the country, are materialized. There are several crucial products that we need to prioritise as a country and some of them are Cement, Cooking Oil and Fizzy Drinks,\u201d says Katsonga.<\/p>\n

The Portland Cement has pledged that while providing high-quality cement, it will also save a lot of energy and avoid pollution for the surrounding areas in Balaka and Malawi as a whole.<\/p>\n

For More News And Analysis About Malawi<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Malawi. There is hope that very soon Malawi government will be collecting about US$15 million (about MK15 billion ) from Huaxin Cement Company currently trading under the name Portland Cement. The company is establishing their own limestone mining rights to build a new dry-process clinker cement production line in the Balaka area with […]<\/p>\n","protected":false},"author":84,"featured_media":36610,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,12],"tags":[233,371,234],"class_list":["post-36611","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-policy","tag-africa-press","tag-africa-press-malawi","tag-malawi"],"yoast_head":"\nMalawi to fetch MK15bn from local cement tax annually - Malawi<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/malawi\/all-news\/malawi-to-fetch-mk15bn-from-local-cement-tax-annually\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Malawi to fetch MK15bn from local cement tax annually\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Malawi. There is hope that very soon Malawi government will be collecting about US$15 million (about MK15 billion ) from Huaxin Cement Company currently trading under the name Portland Cement. 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