Escom sets up JV in Angola to build EUR130m cement plant

Escom sets up JV in Angola to build EUR130m cement plant
Published: 25 June 2008

Grupo Espirito Santo’s Angolan holding company Escom has set up a joint venture with Brazilian company Camargo Correa to build a EUR130m cement plant in partnership with local Grupo Gema.
 
The JV owns 60 per cent of Palanca Cimentos, while Gema owns the remaining 40 per cent.
 
The plant, to be located in the Benguela region, is expected to be built in the next three years and supply about 25 per cent of the cement to the Angolan market.
 
The plant will produce 600,000t of cement in the first year, 800,000t in the second and about 1.2Mt in its third year.