Skip to main content

Arabian Cement enters into JV agreement with Cementos La Union

Published by , Editor - Hydrocarbon Engineering
World Cement,


Egypt's Arabian Cement has entered into a €23 million joint venture agreement with Cementos Relampago, part of Brazil's Cementos La Union. According to a statement released by the company, Arabian Cement's Board of Directors has approved the plans to set up a new 230 000 tpa cement grinding facility in Northwest Brazil.

50% of the €23 million investment would be financed through debt and equity, while Arabian Cement's contribution would be €7 million, representing 60% of the total paid-in capital (according to the statement).

Arabian Cement has a production capacity of 5 million tpa and a market share of around 8% in Egypt, while Cementos La Union is one of Brazil’s leading cement manufacturers.


Edited from various sources by Rosalie Starling

Sources

Read the article online at: https://www.worldcement.com/the-americas/04112014/arabian-cement-enters-into-jv-agreement-with-cementos-la-union-787/

You might also like

The World Cement Podcast - CleanTech & Venture Capital

Our guest for this episode of the World Cement Podcast is Alfredo Carrato, Venture Capital Advisor for CEMEX Ventures. Listen in to the conversation as World Cement's Senior Editor, David Bizley, and Alfredo discuss the role of venture capital and cleantech in enabling the cement industry's green transition.

Tune in to the World Cement Podcast on your favourite podcast app today.

Apple Podcasts  Spotify Podcasts  YouTube

 
 

Embed article link: (copy the HTML code below):