France/Egypt: France-based Vicat has issued a mandatory tender offer to buy an additional 42% stake in Sinai Cement. The proposal follows a final settlement agreement signed between Vicat and the Egyptian government in late March 2021, according to the Daily News Egypt newspaper. Following the completion of the transaction Vicat should own a 98% in the Egypt-based cement producer based on its reported ownership at the end of 2021.

In 2021 Vicat raised a case against the Egyptian government with the International Centre for Settlement of Investment Disputes. Media reports at the time alleged that the cement producer was being forced to reduce its shares in its subsidiary Sinai Cement due to a law stopping foreign ownership of companies operating in the Sinai Peninsula on the basis of security grounds. Around the same time Vicat also announced publicly that it was keen to continue operating in the country.

Pakistan: Three workers from DG Cement’s Dera Ghazi Khan cement plant who were kidnapped have been rescued following negotiation. Tribal elders spoke to the Laadi gang that abducted the workers and no ransom was paid, according to the Dawn newspaper. The gang’s demands included establishing a school and building water reservoirs in the area. The gang kidnapped the workers in early April 2022. 12 associates of the gang have been detained.

Ghana: Denmark-based Investeringsfonden for Udviklingslande (IFU) and Norway-based Norfund have invested US$27.9m in CBI Ghana. The funding will support the cement producer’s upgrade of a clay calcination unit at its 0.6Mt/yr Tema grinding plant in Accra. Denmark-based FLSmidth is supplying the equipment for the project.

Panama: Cemex exported 3000t of bagged Ordinary Portland Cement to Jamaica from the Bahía Las Minas Grain Terminal in Colón. Data from the Ministry of Commerce and Industries shows that the company started exporting cement in January 2021 and recorded sales of over US$17m in 2021. In the first two months of 2022 Panama exported OPC to countries including Jamaica, the Bahamas, Guyana, Bonaire, Cuba and Curaçao.