Kenya: Nairobi Business Ventures has shared plans for the establishment of a 1.0Mt/yr-capacity integrated cement plant following its 84% acquisition by UAE-based Delta International Holdings. Arab Finance News has reported that the former footwear producer is in the process of selecting a location for its upcoming plant and securing a source of clinker imports for the plant’s preliminary grinding-only phase.

Delta International Holdings is the owner of real estate company Delta Holdings Kenya, Shreeji Chemicals Kenya and Shreeji Glass Uganda.

Oman: Oman Cement recorded a profit of US$7.27m in the first nine months 2020, up by 3.7% year-on-year from US$7.01m. Reuters News has reported that revenues rose by 4.3% to US$10.4m from US$9.95m.

Egypt: South Valley Cement’s first-half sales were US$12.5m in 2020, down by 21% year-on-year from US$15.9m in the first half of 2019. Arab Finance News has reported that the company’s net loss fell by 31% to US$4.45m from US$6.43m. South Valley Cement was last profitable in 2018, when it recorded a full-year net profit of US$0.65m.

Egypt: The Financial Regulatory Authority (FRA) has approved HeidelbergCement and Simon France subsidiary Suez Cement’s mandatory tender offer (MTO) for acquisition of a 100% stake in Egyptian Tourah Portland Cement for US$32.7m. Daily News Egypt has reported that the FRA also approved a change to Suez Cement’s ownership, with HeidelbergCement France acquiring a 33% stake in the company.