Egyptian cement maker Misr Beni Suef Cement will start operating a new production line by the end of the month expected to yield 5000tpd of clinker, local financial newspaper Al Alam Al Youm reported on Tuesday.
Total investments for the line were E£1.8bn (US$329 million), the paper quoted the company’s managing director Farouk Moustafa as saying.
An official at Beni Suef said local news reports were correct but declined further comment.
Misr Beni Suef aims to double production capacity by the first quarter of next year with the introduction of another line, Egypt’s CI Capital said in a research note.
"It is worth highlighting that this new production line requires a total investment cost of E£1.5bn including the E£134.5m and E£148m licence cost and energy supply cost," CI Capital said.