Egypt's Arabian Cement agrees joint venture with Brazil's Cementos La Union
CAIRO Nov 4 (Reuters) - Egypt's Arabian Cement has entered a joint venture for cement grinding with Brazil's Cementos La Union worth 23 million Euros(28.76 million US dollar), it said in a statement.
Arabian Cement's board of directors approved the venture with Cementos Relampago, an affiliate of Cementos La Union, "to establish a cement grinding facility in Northwest Brazil with a total capacity of 230,000 tons per year," the statement read. (1 US dollar = 0.7998 euro) (Reporting By Maggie Fick, editing by William Hardy)
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