East Africa Portland Cement chops up land in race for Sh5bn sale target
A view of East Africa Portland Cement Company on January 14, 2012. The company has chopped up a 1,000-acre parcel of land into tiny portions in a bid to expedite its sale, targeting to raise Sh5 billion towards its work capital and debt repayment.
East Africa Portland Cement (EAPCC) has chopped up a 1,000-acre parcel of land into tiny portions in a bid to expedite its sale, targeting to raise Sh5 billion towards its work capital and debt repayment.
The parcel sits adjacent to three others measuring a combined 907 acres, which the State agency is also seeking to offload to a group of squatters for another Sh5 billion. EAPPC targets Sh10 billion from land sales.
