Colacem obtains Tunisian funds

Colacem obtains Tunisian funds
Published: 01 July 2004

Italian cement maker Colacem will receive funds for some Euro 18m from a group of Tunisian banks for restructuring in the Tunis plant of its controlled cement company Les Ciments Artificiels Tunisiens-CAT-Colacem, following an agreement signed on June 29, 2004.  The banks include Banque du Sud, Banque Tuniso-Koweitienne de Developpement (BTKD), Banque de Tunisie et des Emirats d’Investissement (BTEI) and Societé Tuniso-Saoudienne d’Investissement et de Développement (STUSID).  The funds will be invested in technological innovation and in research, in order to achieve an environmentally sustainable development of the plant’s industrial activity.  Colacem, based in the central Italian town of Gubbio, has plants in Europe, Africa and Central America.