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Egyptian private equity firm Citadel Capital (CCAP.CA) announced on Monday the start of pilot operation at the Arab National Cement Company (ANCC)’s new plant located in the Upper Egyptian governorate of Minya, at a production capacity of 2 million tpa.
The Arab National Cement Company (ANCC), a subsidiary of regional cement producer ASEC Cement, is located some 220 kilometers south of Cairo in the Minya governorate. In addition to creating 400 direct and 1,500 indirect jobs, the plant will provide cement for key infrastructure projects in Upper Egypt.
ANCC is a project of ASEC Cement, a 33.44%-owned investment platform of Citadel Capital.
