Egypt to postpone the issue of new licences

Egypt to postpone the issue of new licences
Published: 12 August 2015

Tagged Under: Egypt 

Egypt’s General Authority for Industrial Development announced it will postpone the issuing of licences to establish new cement factories to review the cement market in Egypt, according to a report in the Egypt Independent.
 
The authority was planning to issue between 12-14 licences for cement factories during the current fiscal year. Each factory was to produce 1.5Mta in different governorates.
 
Due to the recession in domestic and global markets, and an increase in the untapped potential of existing plants, the authority postponed new licences to re-examine the cement consumption market in Egypt, as well as future needs, said General Authority for Industrial Development President Ismail Gaber.
 
The domestic consumption of cement is less than the production rate, said head of the Cement Division of the Federation of Industries Medhat Stefanos.
 
Current cement plants are not operating at full capacity and current factories can cover the needs of mega projects like the new administrative capital project, he added.