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News Vicat to invest Euro50m in Sinai Cement

Vicat to invest Euro50m in Sinai Cement

Written by Global Cement staff 19 March 2018
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Egypt: France’s Vicat plans to invest Euro50m into its Sinai Cement subsidiary. Gianfranco Tantardini, the managing director of the local subsidiary, said that the cement producer wants to reduce the company’s losses by raising its stake in it, according to Mubasher. Vicat is waiting for the Egyptian government to approve a waiver to the 45% foreign ownership limits for the transaction to happen. In 2003 Vicat acquired a 40% stake in Sinai Cement.

Last modified on 21 March 2018
Published in Global Cement News
Tagged under
  • Egypt
  • VICAT
  • Investment
  • Sinai Cement
  • GCW345

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