Sudan sells cement factory to UAE firm

ABU DHABI, May 14, 2004 (Xinhua) — The Sudanese government has sold 77.8 percent of its shares in Rebek cement factory for an estimated 15 million US dollars to an United Arab Emirates (UAE) company, Stiar, the official WAM news agency reported here Friday.

Sudanese Minister of Finance Al Zubair Ahmed Al Hassen and Chairman of the UAE firm Tariq Al Mamoun signed the agreement.

The new owner of the factory has played a major role in financing the infrastructure projects in Sudan, the Sudanese minister said.

The factory has now had a three-phased plan of development, raising the output from current 350,000 tons to 800,000 tons in the coming year.