Govt to appeal court order Assiut Cement renationalisation, Egypt

Govt to appeal court order Assiut Cement renationalisation, Egypt
Published: 19 September 2012


The Egyptian government plans to file an appeal against a Thursday court ruling renationalising Assiut Cement, Industry and Foreign Trade Minister Hatem Saleh told Ahram Online on Tuesday.

Since its privatisation in 1999, Assiut Cement has been 95.8 per cent owned by Cemex.

On the sidelines of Tuesday's Egyptian National Competitiveness Conference, Saleh said the government would grant seven new licenses for Egypt-based cement companies once ongoing energy shortfalls were resolved.(Source: Ahram Online)