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| OCI establishes company in Syria Orascom Construction Industries (OCI) of Egypt has established Syrian Cement Company, which will construct a greenfield cement plant in Northwest Syria with a production capacity of 2 million tonnes per year. OCI owns 75% of the new company with the remaining shares held by Mas Economic Group. The new plant will primarily cater to the domestic market which is in deficit and the production capacity may be increased to 3 million tonnes at a later date. During 2006, Syria consumed a total of 6.2 million tonnes of cement of which 2 million tonnes were imported from surrounding regional markets. OCI expects to be one of the first private sector cement producers in Syria. The plant will be located near the City of Aleppo also known as Halab which is approximately 25 km from the Turkish border and 500 km north of Damascus. The investment cost for this new greenfield plant is expected to reach approximately US$ 440 million. With the addition of this new greenfield the OCI Cement Group will have a total production capacity of 39 million tonnes in 2009. write your comments about the article :: © 2007 Construction News :: home page |