Egyptian companies in talks on cement plant in Sudan

Egyptian companies in talks on cement plant in Sudan
30 June 2008

Two Egyptian companies have said they are in talks with the Sudanese armed forces on the feasibility of building a cement factory in Sudan.

In a statement released on Sunday, Egyptians for Housing, Development and Reconstruction EHDR.CA said it has agreed to take part in the project as 25 per cent shareholder in a company to be named Egyptians Abroad for Cement.

The Egyptian state news agency MENA said the new cement company would have paid-in capital of US$150m and the investment would cost up to US$200m.

Another Egyptian company, Egyptians Abroad Investment and Development said on Friday it had received an offer to help set up a cement plant in Sudan and initial studies showed that it could be extremely profitable.

A delegation from the two Egyptian companies visited Sudan in the second week of May to discuss the project with a Sudanese armed forces agency and signed a memorandum of understanding, the company said in a statement.

Another meeting will take place this week, it added.
Published under Cement News