Economy & Market
Not just oil | ISIS funds itself by cement sales too
Terrorist outfit Islamic State of Iraq and Syria (ISIS) has been falling back on cement to pays its bills. Cement represented 4 per cent of its revenue in 2015 or around $100 million. The Centre for the Analysis of Terrorism (CAT) came up with this figure as part of its analysis on how the group finances itself. What's more, the previous year in 2014, CAT estimated that ISIS brought in $300 million from cement sales. The difference in revenue between 2015 and 2014 came about from the group losing control of territory. In late 2014, it controlled four cement plants: the Lafarge Al-Jalabiya plant in Ayn al-Arabin, the Al-Raqqah Guris Cement plant and Fallujah, Kubaisa and Al-Qa'im plants in Iraq. Altogether, it had a cement production capacity of 7.5 MT/yr, a higher capacity than 62 per cent of the cement producing nations that are recognised formally by the United Nations. Briefly it had production parity with countries like Angola, Uzbekistan and Kuwait.