Cement News tagged under: ASEC Cement Algeria

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Egypt: ASEC to sell Djelfa plant project

26 October 2016, Published under Cement News

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.

Algeria government in negotiations for ASEC Cement Algeria stake

20 September 2012, Published under Cement News

The Algerian government is negotiating with Egypt's ASEC Cement to acquire a minority stake in its Algeria-based operations, the firm's main stakeholder told the stock exchange on Wednesday. Algeria aims to acquire 49 per cent of ASEC Cement Algeria by increasing the company's paid up capital, which currently sits at US$60m.   Cairo-based private equity firm, Citadel Capital, has a 48.5 per cent share in ASEC Holding, which in turn owns 61 per cent in ASEC Cement. Citadel directly owns 3...