Cement News tagged under: Egypt

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Vicat confident cement business in Egypt will improve

15 July 2021, Published under Cement News

Vicat has been operating in the Egyptian market for the past 17 years, since its acquisition of the Sinai Cement Co in 2003 and it will keep investing in the country even during times of crises, says Sinai Cement Country Manager, Tamer Magdy. Egypt remains promising for investment, despite the negative impacts of COVID-19 crisis on the economy. The country ’s GDP is still expected to reach five per cent in 2022, said Tamer Magdy. "The economic reform decisions taken by the Egyp...

Redecam completed Sokhna cement baghouse project

14 July 2021, Published under Cement News

A new Redecam Group Sp A turnkey project has been successfully started up on Line 2 at LafargeHolcim’s Sokhna cement plant, Egypt. Redecam Egypt converted the main kiln/RM electrostatic precipitator filter into   a baghouse filter. It also enhanced the cooling system for the clinker cooler, including a partial ESP retrofit. Finally, the company revamped the by-pass gas cooling tower (GCT) and dust transport system.   The project follows a successful Redecam installation at the s...

Egypt to cut cement manufacturing by 11%

07 July 2021, Published under Cement News

Egypt's competition authority has approved a request by 23 cement manufacturers to temporarily reduce production to reduce output, setting a baseline cut at 10.69 per cent. The competition authority decision, dated 5 July, said there would be additional cuts of 2.81 per cent for each production line and further cuts depending on the company’s age, according to a Reuters report. The quotas would come into force on 15 July and remain in place for one year, the document said.

Sinai Cement approves Sinai White Portland Cement exit

21 June 2021, Published under Cement News

Sinai Cement Co approved the sales of its shares in Sinai White Portland Cement Co based on the fair value of Sinai White’s share, according to a filing to the Egyptian Exchange. Sinai Cement Co held a general assembly on 17 June to ratify the business continuity of the company as well as its financial results for 2019 and 2020. It incurred a consolidated net loss before minority interests of EGP147.976m in the first quarter of 2021.

Sinai Cement sees net sales rise 34% YoY

18 June 2021, Published under Cement News

Egypt’s Sinai Cement has seen its net loss widen to EGP147.97m (US$9.45m) in the first quarter of 2021, compared to EGP105.8m in the year-ago period. However, net sales increased 33.5 per cent YoY to EGP282.63m from EGP211.73m in the 1Q20.

South Valley Cement's net losses narrow in first quarter

16 June 2021, Published under Cement News

Egypt’s South Valley Cement has posted a net loss of EGP35.69m (US$2.28m) during the first quarter of 2021, compared to a net loss of EGP41.39m in the year-ago period. The company’s revenue declined 30 per cent YoY to EGP62.12m from EGP88.75m in the 1Q20.

Egypt's government set to put the brakes on cement production

14 May 2021, Published under Cement News

The Egyptian government has decided to take direct action to curb the excess production in the country's cement sector. In an attempt to ease the flow of cement, the government has proposed that cement producers reduce their production by 10 per cent. The government itself has contributed to the oversupply with the creation of its 13Mta military plant in Beni Suef cement plant in 2018, which has seen its sales fall by half, according to military executives. Under the formula proposed last...

Egypt's cement sector sees sales rise 15% YoY

15 April 2021, Published under Cement News

Egypt's cement industry recorded strong sales in March with total sales reaching 4.99Mt, up 22 per cent MoM and 15 per cent YoY. The industry’s utilisation rate also surged to 74 per cent from 60 per cent in February. The average utilisation rate in 2020 was 59 per cent. Watania Cement (Beni Suef) recorded the highest sales of 990,000t with a market share of 20 per cent, according to Daily News Egypt. Therefore, volumes were up 40 per cent MoM and 141 per cent YoY. Sinai Cement reco...

Lafarge Egypt introduces EcoLabel cement

08 April 2021, Published under Cement News

Lafarge Egypt has announced that it will introducing EcoLabel cement for the first time in Egypt. The new products comply with the group’s green criteria, including having a lower CO 2 footprint and recycled content. "Hydrocem Plus EcoLabel & Hydrocem EcoLabel represent the industry’s broadest range of green cement for high-performing, sustainable and circular construction," said Solomon Baumgartner Aviles, CEO of Lafarge Egypt. "We are dedicated to R&D at the forefront of carbon neutra...

South Valley Cement sees net loss narrow in 2020

06 April 2021, Published under Cement News

Egypt’s South Valley Cement Co has recorded a net loss of EGP250.59m (US$15.97m) in 2020, narrowing from an EGP316.34m loss seen in the previous year. The company’s sales declined 20.3 per cent YoY to EGP350.21m from EGP439.26m in 2019.