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  • Bloomberg2 years ago

    Cement Is the New Oil as Africa’s Richest Man Takes on Lafarge

    Africa’s richest man is pushing to dominate its market for cement, the material at the heart of the continent’s infrastructure boom. All that stands in his way is the world’s biggest cement maker, a flood of low-priced imports, the threat of slowing growth in contracts for dams, ports and roads and a slump in the most-traded emerging-market currencies to a record low. “Africa’s future growth is intrinsically linked to cement,” Dangote, 58, told assembled dignitaries, including Zambian President Edgar Lungu, earlier this month as he opened a new factory on the outskirts of Ndola, Zambia’s third-largest city.

  • Reuters2 years ago

    LafargeHolcim to sell India assets for 750 million Swiss francs

    Cement maker LafargeHolcim (LHN.VX) said it would sell two plants in eastern India to Birla Corporation (BRLC.NS) for about 750 million Swiss francs ($768 million), as a condition of its recent merger. LafargeHolcim received conditional approval from the Competition Commission of India for its merger in April 2015. The sale of assets, including the two cement plants operated by Lafarge India with a combined annual capacity of 5.15 million tons, was part of the agreement.

  • LafargeHolcim sells India cement works to Birla for $767 mn
    AFP2 years ago

    LafargeHolcim sells India cement works to Birla for $767 mn

    In July Lafarge and Holcim merged to create the world's largest cement company