Cementir Holding NV announced that its fully-owned subsidiary Aalborg Portland Holding A/S has acquired an additional 25.4 per cent stake in Sinai White Portland Cement Co SAE (SWCC) from Sinai Cement Co, part of the Vicat Group. Following the EUR30m transaction, Cementir will indirectly hold 96.5 per cent of SWCC’s share capital.

The investment strengthens Cementir’s strategic presence in Egypt’s white cement business.

Located in the Sinai Peninsula, SWCC’s plant with a white cement capacity of 1.1Mta is one of the largest white cement plants in the Mediterranean. The company produces and distributes white cement in Egypt and further afield.