Jornal de Negocios: Portuguese cement group plans to inject 23 mln euros in Morocco plant

Portuguese cement group CIMPOR will inject 23 million Euros by 2005 in its cement plant in Temara (north of Rabat) in order to bring production capacity to an annual 1.2 million tons.

The Portuguese cement group, that bought 62% of the Temara plant in 1996, will conduct this investment gradually in order to beef up its technical facilities, reports Portuguese business paper "Jornal de Negocios."

The Temara plant produces presently an annual 845,000 tons of cement, covering 9% of the Moroccan cement market, and posts an annual growth rate of 5%.

Between 1998 and 2002, the Portuguese group invested some 20 million Euros.

The Moroccan plant represents 4% of the output capacity of CIMPOR, a leader in Portugal that is also present in Brazil, Egypt and Tunisia.