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Lafarge acquires a 35% stake in the Meftah Cement Plant in Algeria, as part of the privatization process
- 9th August 2008
- Materials Handling
Lafarge has announced the acquisition of a 35% stake in the Meftah cement plant, which is very well positioned in the Algiers market, together with a 10-year management contract. The cost of the investment amounts to €43.5 million.
An investment program will be put into place to modernize the Meftah cement plant, to increase its capacity from 0.8 million to 1.1 million tonnes by 2010 and improve the plant's environmental performance. This project will be accompanied by a major training program for the plant's employees.
This development will allow the Group to participate in the presidential housing and infrastructure program and to meet the very strong demand for cement arising from the country's development requirements.
With a leadership position in Algeria in each of its businesses - Cement, Aggregates & Concrete, and Gypsum, Lafarge continues to pursue its development in this fast-growing and high-potential market.
http://www.lafarge.com/
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