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| Titan signs contract in Albania Greek cement and building materials producer Titan announces that it signed a contract with the IFC (International Finance Corporation) and the EBRD (European Bank for Reconstruction and Development) for their participation with both equity and debt financing in its subsidiary Antea Cement Sh. A. in Albania. The resulting participation in the capital of Antea will be as follows: Titan with €37.8 m and IFC and EBRD with €12.6m each. Above and beyond these amounts, all three shareholders have undertaken the obligation to provide the following shareholder loans to Antea: €50.4 m by Titan and €16.8m each by the IFC and the EBRD. Antea, a Titan Group subsidiary, is in the process of constructing a greenfield cement plant in Albania. The new plant will have 1.5m tons of production capacity and is expected to be completed by the end of 2009. write your comments about the article :: © 2008 Construction News :: home page |