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Article: Rabat invests $1.2bn to boost cement capacity.(MOROCCO)(Brief article)
- Article from:
- MEED Middle East Economic Digest
- Article date:
- August 3, 2007
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Rabat has signed contracts worth $1,200 million to increase cement production, in an attempt to keep up with the rapid speed of economic development.
The contracts, signed in late July, will increase production capacity by almost 50 per cent.
"There is a boom in the tourism and housing construction sectors," says Rachid Bouazaoui, division chief at the Trade & Industry Ministry. "Developments are springing up everywhere like mushrooms, so there is huge demand for cement."
The local Ynna Asment, a subsidiary of Ynna Holding, signed a contract for a 3 million tonne-a-year (t/y), Eur 330 million ($450 million) plant in Oulad Sghir in the Settat ...