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Sinoma Energy Conservation (中材节能) received a Letter of Acceptance from Union Cement Company (UCC) for a cement kiln waste heat power generation EPC project in the UAE. The contract value is $22.2 million.
India's Shree Cement completed the acquisition of Union Cement Company (UCC) in Ras al-Khaimah, marking Shree Cement's first overseas expansion.
Shree Cement has agreed to acquire a 92.83% stake in UAE-based Union Cement for an enterprise value of $305.24 million. The deal is Shree Cement's first venture outside India and its largest acquisition ever.