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News Sino Energy planning to buy cement plant in northern Mozambique

Sino Energy planning to buy cement plant in northern Mozambique

Written by Global Cement staff 19 November 2020
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Mozambique: China-based Sino Energy has signed a non-legally-binding memorandum of understanding with Hong Kong Construction Group in which it agreed to buy a 65% stake in a 0.4Mt/yr cement plant in Northern Pemba City, Cabo Delgado Province. Sino Energy will conduct due diligence and further negotiations on the proposed acquisition over the next four months. No value for the proposed purchase has been disclosed.

Sino Energy’s main business is manufacturing and selling of casual footwear, apparel and related accessories in mainland China. The company is also developing petrol station operations.

Last modified on 25 November 2020
Published in Global Cement News
Tagged under
  • Mozambique
  • China
  • Hong Kong
  • Sino Energy
  • Acquisition
  • Hong Kong Construction Group
  • Memorandum of Understanding
  • Plant
  • GCW483
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