Egypt: South Valley Cement discusses new Beni Suef line

Egypt: South Valley Cement discusses new Beni Suef line
05 December 2016

Ahmed El-Mekati, board member of South Valley Cement Company (SVCC), has said the company is looking into the investment cost of a new 1.5Mta production line, as the cost of importing the production line’s components has increased with the EGP’s flotation.

SVCC is due to hold a meeting this month to discuss the launch of the new line and study available financing options. It is compare the value of borrowing from banks and increasing its capital in the stock market.

The new line would be installed at the company’s plant in Beni Suef’s industrial zone and would double the plant’s capacity to 3Mta. Such a project is estimated to take about three years to complete.

SVCC won the new cement line licence after Misr Beni Suef Cement withdraw from the auction. It was granted the licence to build the new production line for EGP160.3m (US$8.9m), the minimum value of the licences proposed by the Industrial Development Authority.

Published under Cement News