Private Algerian company Hodna Cement Company (HCC) and leading South African cement manufacturer
The project will require an investment of DZD 28 billion (€263.59 million/US$288.21 million), 80% of which will be financed by Algerian banks and 20% by the two partners.
Algeria currently has a production capacity of 19.5 million tonnes of cement/year while local demand is around 24.5 million tonnes. In order to cater to this demand, 5 million tonnes higher than the country's current production, Algeria relies on cement imports which cost the country $513 million in 2014, up 28.4% compared to 2013.
Algeria has set itself the objective of encouraging initiatives in the cement sector in order to become self-sufficient in this domain. It aims to become one of the largest cement exporters in Africa by 2017.
