Egypt-based ASEC Group has reached an agreement with Algerian investors for the sale of a part-constructed cement plant site in Djelfa for US$60m. Information regarding the Algerian investors was not disclosed.

The realisation of a 3.5Mta plant in Djelfa was launched by ASEC in  2008 with an investment of US$413m, but due to lack of funding the project failed. In 2012 the Minister of Industry revealed that Algerian banks refused to finance the project.

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