Moroccan multinational cement giant, has won a competitive bid to officially acquire a controlling stake in Chad's National Cement Company (SONACIM). The signing ceremony was held at the Chadian Ministry of Industry and Trade on February 27, and was attended by senior officials of the Chadian government's trade and financial affairs, showing that officials attach great importance to the deal. After the acquisition, the new company will be named CIM-TCHAD SA, marking a new stage of privatization of the West African state-owned cement company.
The Chadian government said that the introduction of CIMAF as a strategic investor aims to enhance the overall competitiveness of the domestic cement industry and provide stronger support for major infrastructure projects in the country.
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