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Business News of Friday, 12 September 2014

Source: investiraucameroun.com

Turkish Eren Holdings to build cement plant in Cameroon

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On 9 September 2014, the CEO of Turkish company Eren Holdings, Abut Ozsezikli, signed an investment agreement with the government of Cameroon for the construction of a new cement plant in the country, through its local subsidiary, Medcem Cameroon.

This cement plant, which will benefit from exemptions during installation and operation, under the Act of 18 April 2013 concerning incentives for private investment in Cameroon, is expected to be operational in 2015, announces the promoter. For a start, this production unit will have a capacity of 600,000 tonnes.

This cement plant, whose cost has not been revealed, will find already available on the Cameroonian market the French group Lafarge, which currently produces 1.6 million tonnes through its local subsidiary Cimencam; Morocco's Addoha, which operates in the country under the brand Cimaf and produces 500,000 tonnes; and the Nigerian Dangote Group, who finally announced the commissioning of its cement plant in Douala in October 2014 with an initial production capacity of one million tones.

Domestic demand for cement in Cameroon is currently estimated at 2.8 million tonnes per year.

It has quickly evolved over the past five years (it was still 1.6 million tonnes by 2010) because of the huge infrastructure projects launched in the country, and is even officially projected at 8 million tonnes by 2020.

A quantity that should easily provide all the other cement plants under development in the country.

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