Africa & The Middle East

MerchantBridge, a direct investment and private equity company focused on the Middle East, is investing in debt and equity in Iraq.

HeidelbergCement and the IFC have signed an agreement to increase the local supply of cement in sub-Saharan Africa.

In South Africa today, China’s Jidong Development Group and the China-Africa Development Fund (CADFund) have signed an MoU with Women Investment Portfolio Holdings (Wiphold) and Continental Cement (Conticem), a limestone mining firm. The MoU relates to the construction of a R1.65 billion cement plant to be located 85 km north of Brits in Limpopo.

Lafarge has launched a US$ 200 million project to renovate an Iraqi cement plan.

Egypt’s Alexandria Cement has received the go-ahead for a US$ 442 million rights issue.

Lafarge Cement Zimbabwe is to receive a US$ 3 million injection of capital from the Lafarge Group for recapitalisation of its operations to improve efficiency.

Gulf Cement Company, Qatar, is looking to increase its production capacity to 12 000 tpd, as a second production line is due to come online in 2011.

In a few weeks Habesha Cement will announce who has won the the contract to supervise the construction of Habesha’s new 1.2 million tpa cement plant in Eithiopia.

Possible health tax on cement companies, and Egypt set to reissue two licences.

Egypt’s first privately owned wind farm is to be built by Italcementi in the Gulf of Suez.

Dangote Cement’s Benue Cement Company has posted a massive 205% increase in profits for FY2009.

Attock Cement and Al-Abbas Cement have signed a Memorandum of Understanding regarding Attock Cement’s proposed acquisition of Al-Abbas

A new report provides a comprehensive review of the Saudi cement market, which, despite excess capacity, still remains one of the strongest globally.

In Mozambique, Matola Cement is set to double production, while in Nigeria the Bua Group will expand the Sokoto Cement plant.

In Benin, ongoing power shortages have brought 75% of cement plants in the country to a standstill, according to reports.