The Moroccan subsidiary of Heidelberg announced the signing of an agreement for the acquisition of two cement projects developed by Anouar Invest. They are Atlantic Ciment and Cimsud, two companies that carry cement construction projects in Settat and Laayoune. The operation will be finalized in the second half of the year.
This acquisition was announced on Monday in a press release.
Ciments du Maroc will therefore recover the two cement plants currently developed by the group Anouar Invest of the businessman El Hachmi Boutgueray.
The first, Atlantic Ciment, carries a project to build a cement plant in Settat.
The second, Cimsud, is developing a 500,000 tonne grinding unit in Laayoune.
With Atlantic Cement, Ciments du Maroc will strengthen its presence in the central region. And reconfirms through the purchase of Cimsud his “desire for the development of the Province of Laayoune,” said the statement.
The completion of this acquisition is expected in the second half of 2019 and remains subject to the fulfillment of different conditions, the statement said.
Boutegueray withdraws from the cement
The Anouar Invest group is therefore withdrawing from the cement sector that it has recently invested by launching these two projects, which were sold today to Ciments du Maroc.
His projects were well tied up according to the announcements made by the group.
The Settat cement project, launched in 2015, involved capacity of 2.2 million tonnes in a market of around 14 million tonnes. The investment that was granted is huge: it totals 3 billion dirhams. It was largely financed by a Chinese bank, the Industrial and Commercial Bank of China (ICBC).
In Laayoune, the project was smaller: a 500,000-ton boring unit for an investment of MAD 300 millions.
With these two projects, launched despite a slowdown in the cement sector, Anoaur Invest made a bet on the recovery of the Moroccan market. Present in real estate, he also intended to achieve a vertical integration of its activities.
We will come back in a future article on the reasons for this withdrawal and the details of this deal.