Mozambique: Shortage of foreign currency hinders wheat imports
Mozambique: Sino Energy planning to buy cement plant in Pemba, Cabo Delgado
3:58 CAT | 19 Nov 2020
in file CoM
China-based Sino Energy has signed a non-legally-binding memorandum of understanding with Hong Kong Construction Group in which it agreed to buy a 65% stake in a 0.4Mt/yr cement plant in northern Pemba city, Cabo Delgado Province.
Sino Energy will conduct due diligence and further negotiations on the proposed acquisition over the next four months.
No value for the proposed purchase has been disclosed.
Sino Energy’s main business is manufacturing and selling of casual footwear, apparel and related accessories in mainland China.
The company is also developing petrol station operations.
Source: Global Cement News
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