President El-Sisi inaugurates Beni Suef cement complex
Egyptian President Abdel-Fatah El-Sisi inaugurated on 15 August the US$1.1bn cement and marble complex in Beni Suef governorate as part of the government’s development drive.
The 5km2 industrial complex consists of three cement plants with a total production capacity of 12Mta and 37,000tpd. The implementation of the megaproject was carried out over 21 months by Armed Forces Engineering Authority (AFEA) and some 20 local and international companies, including China’s CDI.
During the unveiling ceremony, President El-Sisi said industrial projects like the Beni Suef complex help to reduce imports, save on foreign currency and provide thousands of job opportunities. The army’s Al-Arish Cement Co has lowered cement prices per tonne by 25-30 per cent from EGP1300 (US$72.63) to EGP900-1000 to help reign in high market prices despite a local production surplus of 11-12Mt, according to AFEA head Kamele Al-Wazir. Cement exports increased by 13 per cent YoY to reach US$57m in the January-June 2018 period, according to data released by the General Organisation for Export and Import Control.
