CDC Group and Lafarge-Holcim launch $10m joint-venture
Friday, 01 July 2016 12:17
CDC Group and Lafarge-Holcim launched a joint-venture named 14Trees which will aim to delevop and boost sales of Durabric, an affordable construction material which is more adapted to environmental concerns.
The joint-venture will start an initial capital of $10.1 million and partners plan to add more funds to support its mid-term growth. However, the Commonwealth Development Group said the objective was to fight deforestation and global warming.
Lafarge-Holcim for its part wishes to enter a market neglected by other competitors in the region, these include Gemran HeidelbergCement and Dangote Cement. The Durabric was tested in Rwanda, Tanzania and Zambia. By using it, construction costs can be reduced by about 25%. The two partners are now thinking of expanding the product’s reach to all of sub-Saharan Africa where millions of people lack means to build a decent and environment-compatible house.
Idriss Linge
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