China’s ambassador to Tunisia, Wan Li, said that a Chinese company specialising in the cement industry plans to acquire a Tunisian cement plant next week, valued at over US$100m.
Mr Li emphasised that "this considerable investment will be the largest direct Chinese investment in Tunisia in recent years," stating that "the Chinese company will bring its modern and advanced technologies to the Tunisian plant and will modernise the equipment, which will have positive effects on the environment."
The news follows initial reports in August 2024 that Votorantim intended to divest its assets in the country. At the time, Sinoma Cement Co offered up to US$145m to buy the 1.8Mta Jbel Oust plant and its subsidiary Granulats Jbel Oust.
CNBM, and its two listed units of Tianshin Material and Sinoma International Engineering, agreed the sale with Votorantim Cimentos. The Jbel Oust cement plant is expected to serve not only the domestic market but also international exports as it is located close to Tunis port.
