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El-Watan , Algeria.
6/27/2007 12:00:00 AM
Acquisition of cement plant in Ain El Bel (Djelfa)
An investment of 413 million USD The assets of the proposed cement plant in Ain El Bel were officially transferred from the ERCC, its former owner, to ASEC CEMENT, more precisely ASEC CIMENT ALGERIE.

The legal document for the transfer was signed by Mr. Yahia Bashir, the CEO of ERCC, and Mr. Ahmed Khalifa, the CEO of ASEC.

The ceremony took place yesterday at the headquarters of the State in the presence of local authorities and civil society.

The cost of the total investment of the plant is estimated at 413 million USD. The contract becomes effective on 1st of October 2007, a date on which was announced the start of construction future.

During this phase, it will be employed more than 1,000 people with a priority for the local workforce.

The plant goes into production on 1st of June 2010 with one production line with a capacity of 10000 tons /day and generate around 1,500 jobs including 600 as a permanent, the rest will be determined according to work needs and to plans.

Mr. Khalifa said "We are happy with the outstanding force given by President Bouteflika in the field of economy. Algeria has certainly excellent development plans well laid out, encourages free enterprise and ensures the integrity of the investment rules."

Ashraf Talaat Ahmed (Director of the commercial group ASEC CEMENT) - Algeria will export cement in 5 years Ahmed Ashraf Talaat is a young Egyptian manager. In this interview, he explains the aim of Djelfa meeting and gives an insight about the prospects. - Why do you call this "A dream come true"? Is it a dream for ASEC or Algeria?

For both sides, ASEC has always desired this offer since 3 years ago due to the attractiveness of the project and for Algeria, ASEC is a world leader in the specialty. - What are the attractions? There is no doubt that Algeria, which we rank as 1st country in North African and 2nd country in African level, has an unlimited reservoir of skilled human resources in all areas. An additional factor that Djelfa has deposits of raw materials used for 60 years and also offers other opportunities, including its location, a bypass road that connects the four corners of the country and the farthest port is 540 km, Skikda. - You will undoubtedly be confronted with the terrible equation to reduce your prices, export your products and meet a little domestic demand for cement.

How will you manage this? It is a challenge, and we simply introduce a new way of thinking in the field of competition to reduce prices and we are occupied first with the domestic market of cement.

We must not forget that we operate in fifteen countries across the continents; we have almost an ethical contract with Algeria - And in the export? We are confident that we will meet the deficiency in less than 5 years and I would better say, the year 2010 will be a turning point for this country that will be a rearrangement of responsibilities.

Al Watan - 27 June 2007.jpg
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