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Le financier , Algeria.
5/23/2009 12:00:00 AM
AHC plans to strengthen its local market presence
The Egyptian ASEC Cement Holding (AHC) has acquired two years ago, 35% of the capital of Société des Ciments de Zahana . Indeed, given the economic environment in Algeria with the price of cement increasing, explained by a growing demand for the completion of numerous projects, AHC plans to strengthen its local market presence with the construction of its future cement plant at Djelfa. To realize its new project, the Egyptian group has requested a loan of $ 50 million including 25 million in capital and the rest in debt, from the IFC, the group of the World Bank. The future cement production in Djelfa will be with a capacity of 3.1 million tons per year and will cost $ 500 million. Also ACH had acquired the acknowledgment of this project to the Regional Enterprise of cement (ERCC), in 2006. The engineering works have been granted to Erasco, a subsidiary of AHC, based in Alexandria, Egypt, and MHDA, an Algerian-Egyptian. Sonelgaz must complete a 32 km pipeline to feed the plant. The construction is provided in two stages, to be delivered in 2011. In addition, AHC has injected $ 77 million over a period of ten years for the modernization of Zahana plant, with the aim of doubling its production capacity to 1.85 million tons per year. The AHC as majority shareholder, Citadel Capital, a private equity firm, founded and directed by Ahmed Heikal.

le financier-23 may 09.pdf
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