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Jordanian company invests in Indonesian cement production
11 Mar 2010
CTI Group - the Gulf region's largest independent trader of cement and clinker - will sign a deal today (March 11th) with Bosowa Corporation in the Indonesian capital Jakarta.
The arrangement will establish CTI group as the sole supplier of clinker - the semi-processed raw material required for cement production - to Bosowa's plant on the island of Batam.
CEO of CTI Group, Mazen M Dajani, said: "This investment supports our strategic plan to diversify into cement production, which ultimately provides tremendous support to our core business of cement and clinker trading."
Arqaam Capital, the Dubai-based bank, arranged the transaction on behalf of the Jordanian company, which has a global distribution network covering more than 25 countries.
Bank Audi produced its report on Jordan's economy this week, indicating a slowdown in real estate activity. Overall, a recession was avoided due to domestic growth drivers, according to MenaReport.
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