CEMENT MANUFACTURING IN RWANDA

About CIMERWA Anticipated input costs: steady state Key cost components Fixed Depreciation Overheads Staff costs Key cost components Variable Electricity Proportion of cost of sales 18% 7% 5% Proportion of cost of sales Gypsum Maintenance Paper bags Thermal energy* Other PPC . • Key differences between typical SA and Rwanda costs • Delivered product in SA (~25% of costs) Electricity over 2 times more expensive than typical SA plant Thermal energy about 6 times more expensive than typical SA plant - coal from Southern Africa via Mombasa (Kenya) to Rwanda Gypsum about 6 times more expensive than typical SA plant - brought in by road from Kenya, about 1500 km away Paper bags imported from North Africa Currently employing 215 permanent staff, set to rise to 220 permanent staff as new plant ramps up . 23% of staff involved in cement operations - kilns and mills 21% involved in administration, HR as well as Sales and Marketing 19% 9% 4% 9% 26% • 8% of staff working in the laboratory 4% • 18% other involved in various functions 20% of staff in the engineering department . 10% of staff involved in mining and quarrying * Thermal energy is a combination of coal (50%), peat (40%), charcoal (5%) and heavy fuel oil (5%) 11

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