Moroccan cement company Ciments du Maroc, owned by Italian sector group Italcementi, plans to invest Euro 140m over the following five years, it was reported on June 28, 2005. Ciments du Maroc, which has a 28 per cent market share in Morocco, at present manages three plants with an annual production capacity of 3.2Mt.
Carlo Pesenti, CEO of Italcementi, met representatives of the Moroccan Government, at which a new agreement was discussed. A similar agreement will also be signed by Lafarge and Holcim.
The agreement envisages the three international partners to invest over Euro 530m ($644.4 mln), which will allow their productive capacity in the country to increase by 36 per cent by the end of 2007.
Pesenti also presented the investment plan of Ciments du Maroc, according to which Euro 90m will be invested to double the production capacity in the Agadir plant, which will be able to reach two million tonnes per year. The remaining Euro 50m will be invested in concrete production.