Cairo – Mubasher: Arabian Cement announced on Monday freezing the steps of establishing a cement grinding facility in Brasil.
There is currently no investment efficiency for the project, in the light of the late negative circumstances of the Brazilian economy, according to a bourse filing.
By the end of 2014, the cement company announced entering into a joint venture in Brasil with Cementos Relampago Company, an affiliate of Cementos La Union, at a total value of €23 million.
The JV will build a cement grinding facility in Northwest Brasil with a total capacity of 230,000 tonnes per year.
