Cement maker seeks Sh15 billion to turn around

East African Portland Cement Managing Director Peter Ole Nkeri when he appeared before the Senate Tourism Committee on the status of East African Portland Cement at Parliament. [Boniface Okendo/Standard]

Troubled cement manufacturer East African Portland Cement Company (EAPCC) now says it needs at least Sh15 billion to avoid a complete shutdown of its operations.

The loss-making Government-owned company, which has been denied a bailout by the State and which has failed to attract a strategic investor since its troubles began eight years ago, said yesterday it was in a worse financial shape than initially thought.