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Apicorp buys 30% of Bahrain's Falcon Cement

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World Cement,

Reuters are reporting that Arab Petroleum Investments Corporation (Apicorp) has bought 30% of Falcon Cement Company, Bahrain's largest cement producer, to help to drive economic growth in the region.

The stake was bought from Islamic investment bank GFH Financial Group, which said it would remain a strategic shareholder in Falcon.

Apicorp will act as a strategic shareholder supporting expansion of Falcon.

The cement company, which supplies big infrastructure projects in Bahrain, has production capacity of 1000 tpd and plans to raise that to 2400 t by the end of 2017.

Integrated Capital, part of the Abu Dhabi Financial Group, owns 10% of Falcon.

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