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OCI to Double Capacity in Kurdistan-Iraq OCI to
invest in a new 2.5 million-ton greenfield cement
plant in the Kurdistan region of Iraq
OCI to
invest in a new 2.5 million-ton greenfield cement
plant in the Kurdistan region of Iraq
Cairo, Egypt : Orascom Construction
Industries (stock symbols: OCIC.CA / ORCI EY /
OCICq.L / ORSD LI) announced that an OCI / Faruk
Rasool Group / Dler Sayed Maged consortium has
obtained regulatory approvals for the construction
of a new greenfield cement plant in the Bazian area
of Kurdistan with a total production capacity of 2.5
million tons per year.
Construction of the plant is scheduled to begin
during the second quarter 2005 with a target
completion period of 26 months. Total investment
cost for the new plant is estimated at US$ 300
million.
Currently, an OCI / Faruk Rasool Group consortium
(51-49%) is undertaking the rehabilitation of the
Tasluja cement plant near Suleimaneyah City which is
the largest cement plant in Kurdistan - Iraq. An OCI
/ Polysius project team is mobilized on site and
production is scheduled to start next month.
The Tasluja plant should reach its full design
capacity of 2.3 million tons by the beginning of
2006. With the completion of the new Bazian
greenfield cement project in late 2007, the OCI
Cement Group will have an annual production capacity
in northern Iraq of 4.8 million tons and will have a
total annual production capacity in emerging markets
of 20 million tons, ranking it among the largest
cement producers in the world.
This information is provided by RNS, The company
news service from the London Stock Exchange
http://press.arrivenet.com
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