South African cement producer Pretoria Portland Cement (PPC) said on Friday it was continuing to explore expansion opportunities in the rest of sub-Saharan Africa, despite failing in its bid for a stake in the Democratic Republic of Congo's State-owned cement producer Cimenterie Nationale (CINAT).

In October 2011, PPC submitted a bid as part of a process to privatise CINAT and the South African company was subsequently named as one of two shortlisted bidders.

“PPC has now been informed that its bid for CINAT has been declined and the other party has been selected to commence contract negotiations,” the company said in a statement, without naming the successful candidate.