Cairo, Egypt, 11 February 2016
Arabian Cement Company (ACC), one of the leading cement companies in Egypt, announced founding a subsidiary company under the name of "Evolve Investments & Project Management". Fully owned by ACC, the company is established with the aim to build, own and operate waste treatment plants and providing organic and alternative fuels to the energy Intensive Industries. Evolve Investments & Project Management will offer its products and services to ACC as well as other companies in the local market.
"As a leading player in the Egyptian market, we are constantly looking for ways to develop our business and make it more efficient. With a developing, promising alternative fuel market, we believe this investment will reinforce our position in Egypt and further enhance our operations locally," said Jose Maria Magrina, ACC CEO. "As part of our commitment to reduce CO2 emissions, ACC is using environmental friendly carbon neutral sources of fuel. We are also improving the community by collecting large quantities of industrial and municipal waste from other companies and municipalities that otherwise would have ended up polluting our country's land and rivers. Through Evolve Investments & Project Management, we aim to offer integrated alternative fuel solutions not only to us but to other industries, extending and enhancing the beneficial effect that the organized treatment and disposal waste will have to Egypt."
Evolve Investments & Project Management's headquarters is located in New Cairo, the company has officially completed the establishment documents.
About Arabian Cement Company
Arabian Cement Company (ACC) was first established in 1997 by a group of Egyptian entrepreneurs, who aspired to establish a leading Egyptian cement company. The cement factory is located in the Suez Governorate. It produces five million tons of first quality cement, approximately 10% of Egypt's production. The company is a joint venture between Cementos La Union, a Spanish investor holding the majority of shares, and a group of Egyptian investors.
Its brand "Al Mussallah" enjoys undisputed prestige and is considered among the best cements produced in Egypt.
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