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Lafarge Egypt, Lumika Renewables Egypt pen $93m green deal

Lafarge Egypt, Lumika Renewables Egypt pen $93m green deal
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Cairo – Mubasher: Lafarge Egypt, a member of Holcim Group, has inked a long-term contract worth $93 million with Lumika Renewables Egypt, a subsidiary of AP Moller Egypt, to supply electricity through solar cells.

The two parties will collaborate to convert 50% of the factory’s daily energy consumption to clean energy, according to a recent press release.

The partnership comes in line with Holcim's vision to promote the use of green renewable energy and reduce carbon footprint.

Najib Ribi, Industrial Director at Lafarge and Member of Holcim, said: “[The contract] aims to supply Lafarge Egypt with approximately 140 GWh worth of electricity generated through solar cells per year."

Ribi added: "The contract is expected to take effect in the first quarter (Q1) of 2024.”

In 2021, Lafarge Egypt introduced new products of EcoLabel with lower CO2 emissions and increased use of recycled materials.