Cement News tagged under: ASEC Cement

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El Nahda Cement partially stops production line at Qena plant

09 July 2019, Published under Cement News

Egypt's El Nahda Cement has decided to partially suspend the main line at its 5500tpd Qena plant for nearly six months. The actions come as a result of a decrease in sales and an increase in clinker stocks, representing stagnant assets if not exploited, according to local media sources. The company plans to continue with a partial suspension and reliance on the available clinker, however would resort to complete suspension if the situation continues. Monthly updates of the situation for the...

ASEC renews technical management contract with Beni Suef Cement

24 April 2019, Published under Cement News

ASEC has announced the renewal of its Technical Management contract with Misr Beni Suef Cement Company until December 2023.   Entrusted with the technical management of the first production line in 2001, ASEC has sustained the production level above the nominal capacity. In 2007 the contract was first renewed by an extra five years, adding as well a second line to ASEC's operation and maintenance scope. The combined cement capacity of the plant's two lines now stands at 3.1Mta.   "We owe th...

ASEC Cement starts Zahana exit negotiations

05 September 2018, Published under Cement News

Qalaa Holdings announced that its subsidiary ASEC Cement has commenced negotations to exit Zahana Cement, in which it owns 35 per cent of shares. ASEC Cement has invested US$62m in Zahana Cement, which has a plant located some 40km from Oran, western Algeria. The cement producer upgraded the works to produce 0.75Mta and has been building a new 1.6Mta line, scheduled to come online at the start of 2020.

Minya's coal storage solution

15 November 2017, Published under Cement News

To help meet the Egyptian rules and regulations on the storage of coal, ASEC Cement Company called on OYK Consultants to design and deliver a suitable storage solution quickly and cost-effectively. By OYK Engineering Consultants, Egypt. Erection of the steel structure at Minya’s new coal storage facility Faced with insufficient supplies of natural gas, the Egyptian government turned to imported coal as an energy source for the country’s cement industry. A number of rules and reg...

Qalaa Holdings completes sale of ASEC Ciment Algérie

17 May 2017, Published under Cement News

Qalaa Holdings announced that its subsidiaries ASEC Cement and ASEC Cement Djelfa Offshore have completed the sale of 100 per cent of ASEC Ciment Algérie (ACA) to an Algerian investor at a deal value equivalent to US$60m. The sellers are currently complying with government requirements to repatriate the proceeds from Algeria. 
Qalaa held an effective (indirect) 37 per cent ownership stake in ACA , which has a licence to build a 3Mta cement plant in the city of Djelfa, Algeria. The sale ...

Egypt sets out on a new course

05 September 2016, Published under Cement News

President Abdel Fattah al-Sisi has managed to return a certain degree of stability to Egypt, with the economy expected to show a gradual recovery. A broad infrastructure programme and robust housing demand is providing the foundation for a strong growth in construction, while the government is calling for the cement industry to increase its capacity. The urgent need to expand Egypt's inrastructure and deal with the considerable housing shortage are expected to drive cement demand f...

Egypt: Qalaa 1Q16 losses

07 July 2016, Published under Cement News

Qalaa Holdings recorded a 1Q16 net loss of EGP242.7m (US$27.3m), greater than the losses of EGP112.2m (US$12.6m) seen in the same period last year, as reported by news organisation Zawya Ltd. Total revenues saw a 20 per cent increase YoY in 1Q16 compared to the adjusted EGP1.44bn reported for 1Q15. Comparative 1Q15 figures have been adjusted to reflect the divestment of ASEC Minya, ASEC Ready Mix, Ashreq, Misr Qena Cement, Rashidi El-Mizan and Tanmeya, eliminating the figures of divested ...

Qalaa Holdings 9M15 revenue driven by energy and cement divisions

10 December 2015, Published under Cement News

Qalaa Holdlings reported consolidated revenues of EGP2051.2m in the third quarter of this year, up 19 per cent compared to the same period of 2014. On a nine-month basis, revenues climbed 31 per cent YoY in 9M2015 to EGP6085.5m. Revenue growth in the 9M2015 was driven by both cement manufacturing arm ASEC Cement and energy distribution business TAQA Arabia. TAQA Arabia (energy distribution) posted a 36 per cent rise in revenues to EGP1713.2m in the period, while ASEC Holding (cement ...

ASEC Cement closes sale to Misr Cement Qena

24 November 2015, Published under Cement News

ASEC Cement, a business unit of Qalaa Holdings, on Sunday announced it reached financial close on the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co to Misr Cement Qena for total consideration of around EGP1bn (US$127m). “We are pleased to announce the sale process closed today, putting in place another cornerstone in our strategy to deleverage at both the holding and platform company levels,” said Qalaa Holdings chairman and founder, Ahmed Heikal. “Both ASE...

ASEC to sell ASEC Minya Cement, ASEC Ready Mix

02 November 2015, Published under Cement News

Qalaa Holdings announced yesterday that its business unit ASEC Cement has signed a sale and purchase agreement for the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co – representing 46.5 and 55 per cent, respectively – to Qena Cement for total consideration of c.EGP1bn (US$124.5m). The financial close is expected to take place on or before 20 November 2015. Qalaa Holdings and its subsidiary National Development and Trading Company (NDT) own 70 per cent of ASEC ...