Cement News tagged under: Egypt

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Cementir reports significant revenue increases in Europe in 2022

13 March 2023, Published under Cement News

Cementir's regional results showed significant revenue increases in Turkey, Europe, US and Malaysian markets. However, cement sales were under pressure in most regions. Cementir ’s Danish sales revenues in 2022 reached EUR509.8m, up 23.2 per cent compared to EUR413.9m in 2021, due mainly to the rise in sales prices. Overall cement volumes decreased by six per cent compared to previous year. White cement exports declined by 29 per cent. Ready-mixed concrete volumes in Denmark fell by five...

South Valley Cement reports decline in net losses in 2022

08 March 2023, Published under Cement News

Egypt’s South Valley Cement has reported sales in 2022 of EGP873.73m (US$28.3m), up from EGP284.62m in the previous year, according to Zawya. Over the same period, the company saw a net loss of EGP208.74m, compared to a loss of EGP225.45m in 2021, giving a loss per share of EGP0.43 as of 31 December 2022, versus EGP0.47 at the same time a year earlier. 

CEMEX extends VeryNile plastic waste initiative

01 March 2023, Published under Cement News

The CEMEX and VeryNile initiative have expanded the scope of the partnership to reach the CEMEX Egypt's hometown of Assiut. This comes after the success achieved by their partnership in cleaning the Nile River from plastic waste in Cairo and Giza governorates. The expansion process included contracting a group from the local fishing community from Assiut who collected four loaded trucks of plastic waste from the Nile during their first month. Following the waste hierarchy, CEMEX will us...

Vicat increases stake in Sinai cement

14 December 2022, Published under Cement News

France-based Vicat SA has increased its stake in Egypt’s Sinai Cement from 51 per cent to 67 per cent. According to Reuters, Vicat bought additional shares worth US$5.65m from separate investors on 13 December 2022. Shareholder Arab Industrial Investment reportedly sold its 6.6 per cent share for US$2.29m. Vicat reported consolidated sales of EUR2697m in the 9M22, up 15.7 per cent YoY at constant scope and exchange rates. The growth came on the back of solid sales improvements in all r...

Lafarge Egypt to increase AR rate to 50%

12 December 2022, Published under Cement News

Lafarge Egypt plans to increase its alternative fuel rate to 50 per cent in the near future. Speaking at the Euromoney Egypt Conference 2022 in Cairo last week, Ahmed Khalifa, chief financial officer and IT director at Lafarge Egypt, said the company had already reached 20 per cent alternative fuel use as part of its vision on transition to energy mix, according to Egypt’s 2050 strategy, reports Mist News. “ We in Lafarge Egypt are promoting and contributing towards transforming into ...

Arabian Cement back in profit in 9M22

18 November 2022, Published under Cement News

Egypt’s Arabian Cement Company has reported revenue of EGP3333.9m (US$135.9m) in the first nine months of 2022, up from EGP1568.1m in the same period a year earlier. Profit after tax in the 9M22 came in at EGP244.7m, compared to a loss of EGP24.5m in the first nine months of 2021. Earnings per share over the same period advanced from -EGP0.08 to EGP0.63.  Domestic sales accounted for EGP2597.9m of total revenue in the 9M22, with exports (EGP575.9m) and services (EGP160.1m) making up the...

Arabian Cement Co amends solar power contract

09 November 2022, Published under Cement News

Arabian Cement Co (ACC) has announced the signing of an amendment to its 2019 contract with Amarenco SolarizEgypt (ASE) to establish a Solar Photovoltaic (PV) plant at its Suez facility. The amendment to the agreement aligns with updated regulations recently issued by 'EgyptERA', the Egyptian Electric Utility and Consumer Protection Regulatory Agency. The adjusted contract limits the total solar capacity contracted to 30MW with a maximum of 25MW per one project. Currently, the total sol...

Suez Cement orders 45GWh solar power project

04 November 2022, Published under Cement News

Suez Cement Group ( Heidelberg Materials ) signed an electricity generation agreement with Intro Power and Utilities with the aim of constructing a solar power plant at the Suez Cement Factory with investments estimated at EGP350m (US$14.4m). The project will provide a production capacity of 45GWh of clean electricity, which eliminates approximately 22,000t of CO 2 emissions annually or 440,000t over 20 years. The project is scheduled to install solar energy systems with a total capa...

Study aids decarbonisation plans in emerging markets

20 October 2022, Published under Cement News

A recent study into how cement is used in emerging markets has revealed a number of trends with key implications for the decarbonisation of the cement industry. The study, titled ‘Paving the way for a better future’, was carried out by the Concrete Action for Climate initiative of the Mission Possible Partnership, co-led by the Global Cement and Concrete Association (GCCA), the World Economic Forum, in collaboration with Boston Consulting Group (BCG), and centred on four emerging markets ...

Private investor ups stake in Arabian Cement

14 September 2022, Published under Cement News

Private investor Sadiq Ahmed Sadiq El Sewedy has increased its share in Egypt-based Arabian Cement Company (ACC) from 9.5 per cent to 11 per cent at a cost of US$1.6m. The deal was handled by Al Ahly Pharos and EFG Hermes Holding. The opening six months of 2022 saw ACC post revenue of EGP2.129bn (US$111.2m), significantly up from EGP964.9m in the same period a year earlier. Consolidated profit surged from a net loss of EGP23.28m to a profit of EGP119.49m over the same period. .