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News ARM Cement seeks US$138m investment from CDC Group

ARM Cement seeks US$138m investment from CDC Group

Written by Global Cement staff 26 August 2016
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Kenya: ARM Cement intends to use US$138m investment from the UK government-owned fund CDC Group to finance the construction of a new cement plant in Kitui County. The cement producer is Chief executive Pradeep Paunrana said that more details on the proposed 2.5Mt/yr plant would be released after shareholders’ approval of the development finance institution’s proposed investment in return for a 40.66% stake in the cement manufacturer, according to the Daily Nation newspaper. The project is planned to be completed by 2021. Nigerian company Dangote Cement is also building a cement plant in the same area.

Last modified on 30 August 2016
Published in Global Cement News
Tagged under
  • Kenya
  • ARM Cement
  • Plant
  • Investment
  • CDC Group
  • GCW266
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