France’s Vicat eyes $58mln investment in Sinai Cement

Vica has been investing in Egypt for 15 years and holds up to 40% stake in Sinai Cement

  

Cairo – Mubasher: France’s Vicat group is looking to pump EUR50 million into Sinai Cement Company to meet the demands of the Egyptian and regional markets, managing director of the Egypt-based cement producer said.

The company’s investments around the world amounted to nearly EUR 2017 million, Gianfranco Tantardini added on the sidelines of Intercem Conference.

The French group operates in 11 countries, including Egypt, the US, and India, he highlighted.

Vica has been investing in Egypt for 15 years and holds up to 40% stake in Sinai Cement, Tantardini indicated.

He stressed that these investments will strengthen the Egyptian economy.

Source: Mubasher Exclusive

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