The Tunisian-Algerian company for White Cement (Sotacib) has been slated for privatization. An international tender was recently launched to select an investment bank to conduction the pre-privatization phase and the final sale of the state-owned firm.
Established in 1983, Sotacib has a production capacity of 400,000 tons of cement annually. According to the tender notice, the selected bank would be responsible for developing a privatization strategy for Sotacib and will carry out a financial and technical assessment of the company. Offers were accepted until December 19, 2003.
The Tunisian government has so far privatized over 150 companies, either parastatal or state-owned, in line with a program launched back in 1987. Following a “policy of state withdrawal from competitive sectors” aimed towards a free market economy; Tunisia’s privatization scheme has put over $1.6 billion into the state treasury over the past 15 years. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
