Sharcem to buy Kazakh cement assets from Kazakhcement and Development Bank of Kazakhstan

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Kazakhstan: Sharcem, part of Singapore-based International Cement Group (ICG), plans to acquire US$16.3m-worth of cement assets in Kazakhstan. The Business Times newspaper has reported that the sellers are Kazakhcement and the Development Bank of Kazakhstan. Kazakhcement currently operates the 1.0Mt/yr Shar plant in Charsk, East Kazakhstan. ICG said that the opportunity presented an ‘attractive’ foothold in the growing Central Asian market. The acquisition is scheduled for completion by 31 May 2021 once the conditions of the sales and purchase agreement are finalised.

Last modified on 14 April 2021

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