Ecocem to invest €30m in joint venture with world's largest steel company
Irish cement company Ecocem has invested €30m into a new production facility in the north of France as part of joint venture with the world's largest steel company.
The investment is split 30pc to 70pc in favour of Ecocem and will increase the Irish firm's capacity from 1.4 million tonnes of high performance, low carbon cement to around 2.4 million tonnes.
Ecocem said the main target markets for the plant will be the north of France and the UK.
ArcelorMittal, the company that is investing with Ecocem, is the world's largest steel firm. The investment is a strategic partnership as Ecocem use a by product of the manufacture of steel to make cement.
The news follows recent builds by the company with the Peel Ports Group. The pair built an import terminal in Runcorn - Manchester Liverpool ship canal - and will look to build another two.