Dubai Group looking to exit Lafarge Emirates Cement

Print this page

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.

Register for the Global Cement Weekly email newsletter

Global Cement Weekly is Global Cement’s weekly email newsletter. Keep up to date with cement industry news, analysis, diary dates and news of people in the sector.

Register >

URL: https://www.globalcement.com/news/item/1153-dubai-group-looking-to-exit-lafarge-emirates-cement

© 2024 Pro Global Media Ltd. All rights reserved.