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(Yicai) Aug. 10 -- China’s Sinoma International Engineering, the world’s biggest provider of cement engineering services, has scored a USD220 million engineering, procurement and construction contract to build a cement plant in Iraq.
The firm’s Beijing subsidiary will construct a clinker production line, which handles the whole process from limestone crushing to cement packaging, with a daily output of 6,000 metric tons and a supporting 50-megawatt power station for its client Al-Diyar Company for Cement Industry and Industrial Investment, Beijing-based Sinoma said yesterday. The project will be located in the Samawa area of the Muthanna governorate.
This is the latest in a string of lucrative deals that Sinoma has signed since the beginning of the year to build plants all over the world. In January it said that its Beijing subsidiary has won a USD585 million contract with Nigeria’s Itori Cement to build two clinker production lines with a daily output of 6,000 metric tons in Itori, Ogun state.
Then in April it said its Suzhou unit has inked a USD600 million contract with Ethiopia’s National WIH Building Materials Holding Company to construct two steel rolling production lines with an annual output of 700,000 metric tons, a lime production line with an annual capacity of 300,000 metric tons, and a cement production line with a daily output of 6,000 metric tons.
This was followed in May and June by two other hundred-million dollar deals in Saudi Arabia and India.
Sinoma’s core business areas include West Africa, East Africa, Southeast Asia and the Middle East, it said earlier. The rapid growth in infrastructure and housing in these regions means there is still significant demand for cement.
Unmoved by the news, Sinoma’s share price [SHA:600970] closed down 0.15 percent at CNY13.39 (USD1.86) today.
Editor: Kim Taylor