Colacem agrees Tunisian investment

Colacem agrees Tunisian investment
Published: 30 July 2004

Italian cement maker Colacem SpA and Simest, the financial institution for development and promotion of Italian business abroad, signed an agreement concerning investments in a cement plant in Tunisia.  The agreement concerns a direct investment of some Euro 4.5m, operated by Simest via its Venture Capital fund, in the Tunis plant of Colacem’s controlled cement company Les Ciments Artificiels Tunisiens-CAT-Colacem.  The investment will be employed for the enlargement and modernisation of the plant, which Colacem expects to generate a turnover of Euro 34m by 2008 and a total production of 750,000t of cement. The plant will employ 215.(ANSA).