Egypt delays decision on cement licence cancellation

Egypt delays decision on cement licence cancellation
Published: 11 March 2010

Egypt has postponed until next Tuesday a decision on whether to either reinstate or confirm the cancellation of two cement licences, a government official and a cement executive said.

"The meeting has been postponed until Tuesday next week," said Amr Assal, head of the Industrial Development Authority.

The delay was confirmed by the chairman of North Sinai Cement, one of the two firms awaiting the decision.

The licences of El Wadi Cement and North Sinai Cement, two of six awarded in 2007, were scrapped late last year because of start-up delays and financing shortfalls.

Source: Reuters