ASEC Cement and TAQA Arabia, both companies of Citadel Capital, the leading private equity firm in the Middle East and Africa, announced today the official inauguration of Berber for Electrical Power.
Berber for Electrical Power’’s 42MW power generation operation is now providing all of the electricity needs of Takamol, ASEC Cement’’s 1.6Mta greenfield cement plant in Sudan, under a 20-year offtake agreement. Takamol is located 14km west of Fahalb on the west bank of the River Nile.
Fifty-one percent of Berber, a US$67m facility, is held by Global Energy (TAQA Arabia’’s power arm), which brings in its technical knowhow and management expertise as a licensed company for power generation and distribution.
"I am very pleased to announce that Global Energy is inaugurating Berber for Electrical Power on time and on budget," noted TAQA Arabia Chief Executive Officer Khaled Abubakr. "This is an important component of our regional expansion strategy, and it has been a delight to work with our counterparts at ASEC Cement on this important project. I would like to extend special thanks and appreciation to the Sudanese government for its assistance."
Dr. Magdy Saleh, Managing Director of Global Energy, noted that the company’’s engineers will continue to operate and maintain the heavy-fuel-oil-fired plant. The agreement is the first major milestone in Global Energy’’s regional expansion drive, and the company will continue to look for attractive regional investment opportunities going forward.
"Our now-operating clinker line is powered by Berber, and we look forward to bringing the entire plant on stream in June 2010," said ASEC Cement CEO Giorgio Bodo. "Locking in our energy supply with a trusted partner such as TAQA Arabia has given us considerable peace of mind as we have concluded operational testing and begun the commissioning process."