Cement News tagged under: Egypt

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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. .

Energy crisis - plant closure warning

09 September 2022, Published under Cement News

CEMBUREAU this week called for urgent action at a European and national level to help tackle the rising cost of energy, which it warns “will lead to widespread plant closures across the EU, creating a crisis in the construction supply chain.” Some EU member states have seen their electricity prices increase 10-fold compared to last year. According to CEMBUREAU, 1t of cement requires around 110kwh of electricity to produce. With electricity prices now between EUR700-1000mwh in several EU memb...

South Valley Cement Co posts net loss of 55% in 1H22

26 August 2022, Published under Cement News

South Valley Cement Co posted a net loss of 54.50 per cent during the first 1H22 to EGP117.08m (US$31.2m), compared to EGP75.75m in the 1H21. However, sales stood at EGP325.86m in the 1H22, a considerable growth from EGP106.43m in 1H21.  In the second quarter of 2022, the cement company reported higher net losses at EGP85.87m from EGP40.05m in the 2Q21. In the meantime, the company’s sales grew to EGP119.71m during 2Q22 from EGP44.30m in the 2Q21.

Misr Qena Cement Co records 24% profit rise in 1H22

18 August 2022, Published under Cement News

The consolidated financial statements of Misr Qena Cement Co revealed an increase in the company's profits by 24 per cent during the first half of this year. The company achieved a net profit of EGP85.69m (US$4.5m) during the period from January to the end of June 2022, compared to EGP69.1m in the same period last year. Misr Qena Cement recorded sales during the 1H22 of EGP1.29bn, compared to EGP1.28bn in the same period last year. The company recorded a net profit of EGP80.85m from ...

Arabian Cement sees revenue and profit surge in 1H22

16 August 2022, Published under Cement News

Arabian Cement has reported revenue of EGP2.129bn (US$111.2m) in the first half of 2022, significantly up from the EGP964.9m seen in the same period a year earlier. Consolidated profit also surged, improving from a net loss of EGP23.28m in the 1H21 to a profit of EGP119.49m in the opening six months of this year, according to Mist News.

ASEC wins two-year operation and maintenance contract with BMIC

16 August 2022, Published under Cement News

Arab Swiss Engineering Co (ASEC) has won a two-year contract for the operation and maintenance of Building Material Industries Co ’s Assuit cement plant , Egypt. This follows the first phase of preparation. The contract was signed by Dr Said Mohamed Hussein, chairman and managing director of BMIC and Ashraf Al-Kahky, CEO and managing director  of ASEC. Previously, ASEC had the technical management responsibility for the plant during the 2011-19 period.