The government of Somaliland, an autonomous region of Somalia, has passed over ownership of the Berbera cement plant to a Red Sea Cement, a new company jointly established by the Dahabshiil Group, Berbera Group and the Kuwaiti Kipco.

Speaking on behalf of Red Sea Cement, Mohamed Said Duale, founder of the Dahabshiill Group, stated that the new joint venture will start plant rehabilitation activities very soon, Somaliland Press quoted him as saying.

Minister of Industries, Shuaib Mohamed Musa, welcomed the move, highlighting some of the key expected benefits of the rehabilitated plant. "The plant will have a tremendous impact on the whole economy, especially on the building industry, as it will save much-needed foreign currency for the nation, he said.