The turnkey engineering, procurement and construction contract is worth $550m.

Asec Algeria, a subsidiary of Egypt’s Asec Cement Holding. The plant, located in the central Algerian region of Djelfa, will have a cement production capacity of 3 million tonnes a year (t/y). Operations are expected to begin in three years. Cement from the plant will be sold locally.

In November 2007 Asec Cement bought an 85 per cent stake in Iraq’s GRD Cement Company and is set to build a $250m cement plant in northern Iraq. The plant will have a production capacity of 1.5 million t/y. Construction is expected to begin in May.

Asec Cement has also recently bought a 35 per cent stake in Algeria’s state-owned Zahana Cement Company for $38m and hopes to increase production there from 675,000 t/y to 1.8 million t/y.

Both Aresco and Asec Algeria are subsidiaries of Egypt’s Asec Cement Holding.