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La Tribune , Algeria.
6/26/2007 12:00:00 AM
Transfer of assets of the cement plant Djelfa
The ERCC yesterday signed the sale of the assets of the cement plant Djelfa to the Egyptian group "ASEC CEMENT, the Egyptian group was established in 1975 has built its first plant located in Egypt in the beginning of 2000.

A few years later, he launched an ambitious program in this area in several countries, including Algeria, for a total investment of about 2.5 billion USD. Transfer of assets from the cement plant Djelfa was made against a total of 413 million USD, the president and CEO of ERCC, Mr. Yahia Bashir, recalled the history of the project, and its creation in the early 1970s, the project was won by ASEC Egyptian group.

The President of ASEC Mr. Ahmed Khalifa, highlighted the potential importance of the Algerian market in addition to the wealth that lies beneath the Algeria and that ASEC presence was encouraged by the program of President Bouteflika and the facilities of the new investment code.

The Egyptian group seems very interested in the Algerian cement market, since currently it is in negotiations to buy the cement plant Zahana located in the state of Mascara.

Finally, the cement plant Djelfa whose early production is scheduled to be June 2010, will produce annually 3.3 million tons and providing 1500 job opportunities.
La Tribune - 26 June 2007.jpg
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