Pacific Lime and Cement Limited has appointed a key industry veteran to lead its cement division.
Kevin Savory is a familiar name to those in the Australian construction materials sector and now, the experienced industry veteran is back in a key role.
Savory has been appointed as the new chief executive officer of Pacific Lime and Cement Limited’s ( PLC ) cement division. In his new role, he will work alongside PLC’s chief executive officer for its lime operations and supported by the company’s advisory board.
The veteran previously worked as the CEO of Mayur Resources’ cement and lime business from September 2018 to May 2020. Savory has also worked as the managing director of Infrastructure Products Australia, which is part of CRH’s network, as well as senior leadership roles with Cement Australia and Holcim. With experience across cement, lime, slag, fly ash, precast, concrete and infrastructure applications, Savory’s experience shapes as a major coup for PLC’s growing operations.
“Kevin’s appointment significantly strengthens our leadership capability as we advance our cement strategy in parallel with our quicklime construction already well underway,” Pacific Lime and Cement managing director Paul Mulder said.
“His deep sector knowledge, prior experience with our assets and jurisdictions, and proven ability to execute in capital-intensive environments make him ideally suited to lead the next phase of growth. Kevin will be permanently based in [Papua New Guinea] ( PNG ).”
Cementing foundations
The appointment of Savory to the key leadership continues the momentum behind PLC’s growing cement operations.
In December 2025, PLC announced a key partnership agreement with the International Finance Corporation ( IFC ) which would make them strategic partners in the former’s phase two of its central cement project in the central province of PNG.
IFC, which is a member of the World Bank Group, specialises in investing in emerging markets. In its partnership with PLC, the IFC will focus on updating feasibility assessments, refining market and financial assumptions, and enhancing environmental and social management systems. As part of its advisory scope, IFC will assess the existing environmental and social management system and make recommendations to ensure the compliance of the ESMS with the IFC’s performance standards. This work is aimed at aligning the central cement project with international standards and pave the way towards full financing and construction in the future.
PLC has described the project as “PNG’s first vertically integrated clinker and cement production facility” which will help support domestic demand for cement material and reduce the local market’s demand on imported materials.
Mulder said the partnership with IFC enabled PLC to tap into “world-class technical expertise” when it comes to environmental, social, and governance standards and international best practice.
“The International Finance Corporation is a pre-eminent global financial institution in enabling transformational industrial projects in emerging markets,” he said.
“Their engagement recognises the significance of establishing Papua New Guinea’s first fully integrated clinker and cement production operation for nation building.”
Late last year, PLC joined a select group of companies to become dual-listed on the Australian and PNG stock exchanges. The decision enables local PNG investors to invest in the company’s central lime and cement projects and any future resources, renewables or mineral projects. In joining the likes of Santos Limited and Newmont Corporation, PLC signalled its commitment to its PNG projects. It came on the back of the project development agreement ( PDA ) for PLC’s central lime and cement project being initialled in a “landmark” agreement with the PNG Government.
The PDA provides the government with equity in both the central lime and cement projects of 13 per cent with around an option to acquire five per cent more post-commissioning of each production facility. In return, The PNG Government will provide extensive support and facilitation measures to the project as well as industry and tariff support, with the project deemed of “national significance” and critical to the country’s national interest.
For example, under the terms of the PDA, the PNG Government will promote that government bodies and local contractors use of quicklime, clinker and cement that is domestically produced, provided these products are competitively priced and deemed of equal or better quality than other available options.
Mulder said the PDA agreement was a “comprehensive” agreement between the two parties.
“With PNG’s National and Central Province Governments, and landowners, to become direct equity holders in our project, this is another opportunity for the people of PNG to participate in nation building by adding value to PNG’s resources,” he said.
“By combining sovereign equity participation, SEZ incentives, and free-carried local equity, the project now stands on firm ground to deliver long-term value to all shareholders and national partners. We are grateful for the trust the Marape-Rosso Government and landowners have in us, and we look forward to progressing one of PNG’s most important industrial developments.
“The secondary listing of PLC on Papua New Guinea’s National Stock Exchange creates a simpler pathway for both retail and institutional PNG investors to participate as equity-holders of the company.”
Limelight
PLC has significantly progressed its central lime project with the project on track to meet its planned timeline for production following the announcement of the project’s final investment decision in mid-2025.
The company issued a construction update in December 2025 which outlined that the project’s construction continued at pace with earthworks, wharf construction and access infrastructure works ongoing.
The construction project workforce is more than 90 per cent local according to PLC. Major milestones, including kiln cutting, the third phase of the wharf design, offshore material procurement and development of the access road are all advancing and on track to be completed as major milestone for the project.
“It’s great to see continued momentum at the Central Lime Project,” Mulder said.
“The team is hitting major construction targets and maintaining a disciplined approach as we work toward first production. The progress we’re seeing across the kiln precinct, wharf, access road and supporting infrastructure gives us increasing confidence as we move through the build.” •
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