Recently, Sinoma Cement Co., LTD. (hereinafter referred to as Sinoma Cement) and China-Africa Development Fund Co., Ltd. jointly funded Sinoma Cement (Middle East) Investment Co., Ltd. successfully completed the investment in SOCIETE LES CIMENTS DE JBEL, a well-known Tunisian cement company The 100% equity acquisition of OUST (hereinafter referred to as SinomELcement Tunisia project) marks the official landing of the first overseas investment and acquisition project of China’s building materials basic building materials sector, achieving an important layout in the North African market, contributing to further promoting the friendship between China and Tunisia and promoting the high-quality joint construction of the “Belt and Road”.
Sinoma Cement Tunisia project is the largest single direct investment of Chinese enterprises in Tunisia in recent years. As the third largest cement enterprise in Tunisia, it has an annual production capacity of 1.5 million tons of cement and 1.6 million tons of aggregate, which has created more jobs for local people, made positive contributions to tax revenue, and promoted local economic and social development. The successful landing of the project is a solid step taken by the basic building materials sector on the journey of internationalization, highlighting the efforts and results of China Building Materials in continuing to promote international production capacity cooperation, strengthening the confidence in the overseas development of basic building materials, and laying a solid foundation for the implementation of China Building Materials’ “overseas 10-year reconstruction” strategy.
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