PPC’s R1bn empowerment deal boosts balance sheet

JSE-listed PPC’s balance sheet has shown significant improvement following the conclusion of its first broad-based black economic-empowerment (BBBEE) transaction. The BBBEE transaction resulted in a cash inflow of R1-billion in December, which PPC says will be used to further reduce its debt and fund capital expenditure, in particular, at the R1.7-billion Slurry Kiln 9 project, in Lichtenburg, North West.