Citadel’s ANNC To Inaugurate Cement Plant In Minya Next March

Egyptian private equity firm Citadel Capital (CCAP.CA) will be inaugurating next March the Arab National Cement Company (ANCC)’s new grey cement plant located in Minya. The investment cost of the plant amounts to EGP 1.8 billion.

The Arab National Cement Company (ANCC), a subsidiary of regional cement producer ASEC Cement, is located some 220 kilometers south of Cairo in the Minya governorate.

Dr. Moustafa Kamel Eissa, Minya Governor, told Amwal Al Ghad that ANCC’s new plant will create 500 direct and thousands of indirect jobs. He further added that the plant will be the only producer of grey cement in the region giving it a strong competitive edge.

The Governor further asserted that the new plant is a crucial step towards implementing new giant investments in the governorate within the coming period amid the growing interest from the cement sector officials.

He stated that the local market incurs major marketing gap driving the country to import cement.

ANCC is a project of ASEC Cement, a 33.44%-owned investment platform of Citadel Capital.