Global Signs Agreement for New Cement Plant in Tunis

announced today that it has signed an agreement with Bina Holding of Tunisia to jointly develop Carthage Cement, a Greenfield cement plant with capacity of 2 MTPA along with a ready mix and brick plant. The highlight of the investment is the acquisition of one of the largest quarries in North Africa, spread across 220 hectares, of which 30 hectares are presently excavated and already into gravel production and generating revenues. The quarry, with estimated limestone deposits of 250 million tons, is located close to the capital and the main commercial port of Tunis. It is worth mentioning that PEG of Switzerland is the project manager and HSBC is the advisor to the project. In the Maghreb region, including Morocco, Algeria, Tunisia and Libya, the building materials sector is undergoing profound changes. Considered as emerging... [read full story]