Brazil: Arabian Cement back out of plant project

Arabian Cement announced yesterday that it will be postponing further steps to establish a cement grinding facility in Brazil. The adverse conditions in the Brazilian economy are anticipated to impact negatively on the investment with forecast returns below expectations.

The company reported it would be entering a joint venture with Cementos Relampago in 2014. The joint venture was to build a 0.23Mta grinding unit in northwest Brazil.