Displaying items by tag: AlDiyar AlIraqia for Investments Company
Al-Diyar Al-Iraqia for Investments Company to acquire 49% stake in Northern Region Cement’s Iraq business
04 January 2024Iraq: Al-Diyar Al-Iraqia for Investments Company and Northern Region Cement have concluded a deal under which the former will acquire a 49% stake in the cement producer’s business in Iraq. Argaam News has reported the value of the deal as US$44m. Northern Region Cement said that the new strategic partnership would help it to further expand its investments in the promising market. It will use the proceeds of the deal to repay loans and for ‘external investments.’
Northern Region Cement plans to build a US$139m, 1.32Mt/yr integrated cement plant at an unspecified location in Iraq.
Published in
Global Cement News