PPC cements its Algeria plans

03 March 2014

PPC has announced its advanced plans for entry into the Algerian cement market through a partnership with Algerian private investors that would see it own a 49% stake in the Hodna Cement Company.

The transaction will be funded on a project finance basis, with 80% debt funding from local banks. The stake, which was bought for an undisclosed amount, will see PPC assume management control of Hodna, allowing for the consolidation of the financial results of the project into the PPC group accounts.

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