Egypt's Orascom to develop $300 millon cement plant (03/03/05)


The authorities in northern Iraq have approved the development of a $300 million cement plant in the Bazian area by a consortium of Egypt's Orascom Construction Industries (OCI), Faruk Rasool Group and Blair Sayed Magid, the latter two being local firms.
 
Authorities have approved the new plant
 

Construction of the 2.5 million-tonne-a-year (t/y) plant is scheduled to start during the second quarter of the year and is expected to take about 26 months for completion.

The Bazian project will take OCI's cement production capacity in the region to about 4.8 million t/y by 2007.

In December, an OCI/FRG consortium was awarded a 12-year lease to rehabilitate the Tasluja cement plant which is located near the city of Sulaimaniyah.

Source: ABBC

 


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