Egypt’s Industrial Development Authority said it will announce early next month what it will do with two cement licences which it has withdrawn because of start-up delays and financing shortfalls.

"In August, we’ll be ready to announce," Amr Assal, head of the authority, said in a phone call on Sunday, adding that the authority’s board will meet to approve the fate of the licences in the first week of August.

Egypt set a July 1 deadline for new bids for the licences, which it withdrew in November from El Wadi Cement and North Sinai Cement.
Advertisement