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Italian cement maker Italcementi takes stake in Syrian cement plant

Italian cement maker Italcementi takes stake in Syrian cement plant

Italian cement producer Italcementi announced Tuesday that it is taking a stake in a new cement plant in Syria through its French unit Ciments Francais.
Ciments Francais will hold a 12.5 percent stake in the new plant managed by the Syrian company Al Badia Cement JSC, which is owned by the Muhaidib Group of Saudi Arabia. It will have an annual capacity of 3.2 million tons and begin operating by 2010.
Bergamo-based Italcementi, the world's No. 5 cement maker, already has partnerships with Muhaidib in the Gulf Region.
Italcementi was trading down 0.82 percent at euro12.10 on the Milan Stock Exchange.


Updated : 2021-02-25 19:38 GMT+08:00