Egypt to rule on withdrawn cement licences in August
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Development Authority said it will announce early next month what it will do with two cement licences which it has withdrawn because of start-up delays and financing shortfalls.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.
