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FINANCIAL NEWS
Cemena, Sinoma sign Syrian cement plant deal
02 Dec 2010
(MENAFN) Hesham Al Rayes, Chairman of Bahrain-based Cemena Holding Company, a Middle East and North Africa (MENA)-based cement holding company has signed a deal with China-based Sinoma CBMI Construction Company Ltd. a subsidiary of Sinoma Group, to construct a cement plant in Syria, Gulf News reported.
According to Hesham, the plant which is located in Jebel Al Kahlah; halfway between the Syrian capital Damascus and Syria’s second largest city of Homs, will have a production capacity of 6,400 tons per day, with two production lines, 3,200 tons per day on each line.
The construction of phase one will start in the upcoming month and it is expected that initial production will start in 18 months. The plant will benefit from huge demand in the fast growing Syrian market and it will also supply neighboring countries such as Iraq where state infrastructure projects, and private sector development have created substantial demand for cement, Hashem said.
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