Anouar Invest signs a tripartite agreement with a Chinese bank and BMCE Bank to finance its cement plant in Settat

Anouar Invest has signed a tripartite agreement with the Chinese bank Industrial and Commercial Bank of China (ICBC) and Banque Marocaine du Commerce Extérieur (BMCE Bank) to finance the construction of its cement plant in Settat, with a production capacity of 2.2 million tons.
This agreement allows Atlantic Ciment, a subsidiary of Anouar Invest in charge of developing the Group’s construction materials business, to secure the financing of the project—originally initiated through a memorandum of understanding signed with ICBC in December 2015 and to plan for construction works to begin in the second half of 2016, with commissioning scheduled for early 2019.
The cement plant, whose construction has been entrusted to Chinese contractor Sinoma-CDI, will be equipped with the latest production and environmental protection technologies. It will help meet both current and future cement needs of the region, supply clinker to Anouar Invest’s grinding unit in Laayoune, and export clinker surpluses to West Africa. The project will also contribute to the regional development through job creation and wealth generation.