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Cemena Holding Company signs with Sinoma to construct cement plant in Syria

World Cement,

Cemena Holding Company, a MENA based cement holding company, has signed an agreement with Sinoma CBMI Construction Company Ltd, a subsidiary of Sinoma Group, to begin construction of a cement plant in Syria.

The plant will be Cemena's second after (Falcon) a cement plant in the Kingdom of Bahrain; the design production capacity of the plant is 6400 tpd with two production lines, 3200 tpd each. The construction of phase one will commence in January 2011 and it is expected that initial production will begin in 18 months. The plant is strategically located in Jabal Al Kahlah - half way between the Syrian Capital, Damascus and Syria's second largest city of Homs, and only 150 km from the Iraqi border. The plant will benefit from huge demand in the fast growing Syrian market and it will also supply neighbouring countries such as Iraq, where state infrastructure projects and private sector development have created substantial demand for cement.

Following the signing of the agreement, Mr Hisham Alrayes, Chairman of Cemena Holding Company commented: "we are delighted to reach yet another significant milestone in building our business. By adding this asset to our portfolio we are building a track record and creating further value for our shareholders. Following successful completion of our plant in Bahrain last year, we are now building one in Syria on one of the highest reserves of limestone in the country. Another announcement will be made soon for signing a further agreement to build a plant in North Africa which will enable us to cover the MENA region and tap into another highly growing market.

Mr Salah Sahrif, Acting CEO of Cemena Holding Company, said: "Cement consumption in Syria is increasing by 5.2% per annum due to the increasing number of real estate and infrastructure projects, and we aim to fill the gap in this growing market. We are extremely pleased to be establishing a plant in such a market as being one of the best in our portfolio covering Syria and Iraq.''

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