Adviser sought for cement plant privatisation

21 November 2003
Societe Tuniso-Algerienne de Ciment Blanc (Sotacib), a cement company jointly owned by the governments of Algeria and Tunisia, is seeking an international bank to advise on its privatisation and arrange the sale. Bids are due by 19 December and an award is expected by the end of the year.

Algiers and Tunis directly own 40 per cent each of Sotacib while the remainder is held by Banque de Co-operation du Maghreb Arabe, itself a joint venture between the two governments. 'The plan is to sell off all of the company,' says a Sotacib official. 'Whether it goes to a single buyer or a number of investors will be up to the mandated bank.'

Sotacib has a single cement plant in Feriana, 250 kilometres west of Tunis. The 20-year-old plant has capacity of 210,000 tonnes a year and is powered by gas from Algeria. The facility is among a total of 34 entities slated for sale under the government's latest round of privatisations (MEED 15:8:03).

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