Tunisia chooses French bank to carry out privatization of two cement factories

Tunisia intends to announce an international tender to privatize the first cement factory in Benzert (60 kilometers north of the Capital Tunis). Tunisia chose a French bank (Rocheld) as a broker to carry out the first phase of the privatization plan which includes privatizing 6 public sector cement factories. Their total production capacity is estimated at 5 million tons a year.

The revenues of the first cement factory which is going to be privatized are estimated at 22 million dinars ($20 million). The revenues of the Gabal Al Wasat Factory are estimated at 31 million dinars ($28 million).

Tunisian sources said that US and French industrial groups like La Frage Group expressed their interest in buying the two factories.

Tunisia also intends to privatize two hotels in its capital: Hilton Tunis which is owned by the public-sector National Department of Tourism, and the Hotel of Africa 90% of whose shares are owned by the Principal Public Bank and the French Bank.

It is worth mentioning that Tunisia has finished the privatization of 20 public establishments during the past 9 months of the current year. Another 30 public establishments are going to be privatized.