Investment in de cement sector in Morocco

[Mister79]

Morocco: Investments in cement. In the long run, the rise of the construction trade is progressed about 12,6% with an average growth of 8% since the year 2000, according to international studies. The industry of cement in Morocco should continue its development in the years to come because of increase in request in the building sector. Within the framework of the construction of a new production unit in Agadir, the Moroccan company Ciments construction material of Morocco signed, last on July 9, a medium-term credit of 274 million dollars with a consortium made up of five banks. The credit will make it possible to finance partially the above mentioned investment of an global amount of 480 million dollars. The five banks include Attijariwafa bank, BMCE Bank, BMCI and Credit of Morocco (subsidiary companies of French groups BNP and Crédit Agricole respectively) and the French company General society. Cements of Morocco, subsidiary of the Italian group Italcementi, fifth cement producer in the world, intends to start the production in March 2009. The production unit will have an annual capacity of 2,2 million tons of cement and 1,6 million tons of clinker. The production unit of Agadir was conceived to answer the increase in the demand for cement in Morocco. French company Lafarge Ciments and the Swiss group Holcim, which also began to invest in the increase in capacity of their factories of production established in the Kingdom. Indeed, Lafarge is on the way to double
double the production of its factory in Tétouan, while Holcim has been just established in Settat, to 7 km in the south of Casablanca, of an investment of 390 million dollars. This new production unit is able to put on local market 1,7 million tons of additional cement. The group recorded good performances last year, with benefit in rise of 17% with height of 83,7 million dollars at the end of December 2007.

The Cement leaders of Morocco envisage a growth with two digits this year, and are determined to satisfy the increase in demand. The cement-manufacturers profit from a market wich is in in full expansion. Indeed, some 1,3 billion dollar were invested in the improvement of the rural highway network, while the motorway network is the subject of a repairing. The government was committed to build 150.000 new residences per annum with an investment of 4,4 billion dollars in the sector of tourism from here to 2010.


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