Citadel unit has 13 pct of Sudan cement market
CAIRO (Reuters) - A unit of Cairo-based Citadel Capital secured 13 percent of Sudan's cement market by the end of October after opening a $253 million plant in August, the parent company said on Wednesday.
Private equity firm Citadel said the Al Takamol factory, which is 51-percent owned by its cement unit ASEC with the rest held by Sudan's Social Security Investment Authority (SSIA), is the most technically advanced in the country.
It has annual capacity of 1.45 million tonnes of clinker and 1.6 million tonnes of cement.
The plant is in a remote area 320 kilometres (199 miles) north of Khartoum, near a stretch of the Nile that was only recently spanned with a bridge, ASEC said.
The company built roads, a water treatment plant and a connector to a 42 MW power station for the factory to operate.
ASEC Cement aims to double its annual cement output in the Middle East and North Africa to about 12 million tonnes by 2013.