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Overview

China Eximbank provides RMB 500 million overseas investment loan for Huaxin Cement’s acquisition of 100% stake in Natal Portland Cement Company (Pty) Ltd

Commitments (Constant USD, 2023)$70,617,040
Commitment Year•2023Country of Activity•South AfricaDirect Recipient Country of Incorporation•China (People's Republic of)Sector•Industry, Mining, ConstructionFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2023
Start (actual)
Dec 26, 2023
End (actual)
Dec 26, 2023

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

  • Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

  • Huaxin Cement Co., Ltd.

Loan description

China Eximbank provides RMB 500 million overseas investment loan for Huaxin Cement’s acquisition of 100% stake in Natal Portland Cement Company (Pty) Ltd

Interest type•Unknown

Narrative

Full Description

Project narrative

On December 26, 2023, Huaxin (Hong Kong) International Holdings Limited completed its acquisition of a 100% equity stake in Natal Portland Cement Company (Pty) Ltd. from InterCement Trading Inversiones, S.A.U. for $231.6 million. China Eximbank provided a RMB 500 million overseas investment loan to Huaxin Cement Co., Ltd, to facilitate the acquisition. Natal Portland Cement Company (Pty) Ltd controls the following firms in South Africa: InterCement South Africa Proprietary Limited and NPC InterCement (RF) Proprietary Limited. Natal Portland Cement Company (Pty) Ltd operates two grinding plants in South Africa: one in Durban (1.2 Mt/yr) and another in Newcastle (0.45 Mt/yr). Additionally, NPC operates an integrated cement plant in Port Shepstone with a capacity of 1.5 Mt/yr. NPC also has aggregate production plants, including one at Sterkspuit quarry. In July 2025, Natal Portland Cement Company (Pty) Ltd successfully launched its upgraded kiln at the Simuma plant—a key milestone in its expansion.