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News Dubai Group looking to exit Lafarge Emirates Cement

Dubai Group looking to exit Lafarge Emirates Cement

Written by Global Cement staff 19 September 2012
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UAE: Dubai Group plans to sell its 45% stake in a joint venture firm with French cement maker Lafarge to help to repay its debt, which currently stands at US$10bn. Lafarge Emirates Cement is restructuring and needs additional capital to help support the business.

Lafarge Emirates Cement was set up as a joint venture between Lafarge, the largest cement company in the world, Dubai Group, part of conglomerate Dubai Holding, and the Fujairah Emirate in 2005. The company runs a plant in Fujairah with a cement production capacity of 3.2Mt/yr.

Published in Global Cement News
Tagged under
  • GCW67
  • UAE
  • Dubai Group
  • Lafarge

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