Egypt’s cement producer Arabian Cement Company (ACC) said its board decided on April 14 the appointment of Salvador Cabanas Lopez as the chief financial officer (CFO), Invest-Gate reports.

This follows the resignation of Allan Hestbech from the same position, the company said in a bourse filing.

In January 2019, ACC has signed an agreement with SolarizEgypt for establishing a solar photovoltaic (PV) energy plant within its premises in Suez Governorate.

Set to start operating by the second quarter of 2019 with investments worth EGP 100 mn, the PV energy plant is expected to generate more than 14 gigawatt-hours per year, producing up to 4% of the total power supply of ACC’s plant for 25 years.