National Cement mulls financing plans, Egypt

National Cement mulls financing plans, Egypt
12 May 2011


National Cement is intending to do without both World Bank and Egyptian Environmental Affairs Agency (EEAA) loans amounting to US$13.9m which was set to finance renovation of the company’s lines 3 and 4 with investment  of EGP568m (US$96m).

Othman Sadek, managing director of the company, stated that the project’s feasibility study targets to improve company’s net profits and revenues from 19.9% during 2010/11 to 32.9% in the first year of operation, 29.2% in the second year, 28.8% in the third and 28.3% in the fourth year. He added that the company is seeking to pump EGP299.3m investments during the current fiscal year.
Published under Cement News