Cement News tagged under: Egypt

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Egypt: IDA to allow cement producers to pay licenses in installments

05 December 2016, Published under Cement News

The Industrial Development Authority (IDA) is allowing the three winners of last week's cement production license auction to pay license fees in annual instalments, Al Mal reports. A source at the IDA said that the companies will receive their letters of guarantee in full once they begin production and would until then be paid back in tranches of EGP50m as they complete each phase of construction. Cement Egypt’s CEO Ahmed Abou Hashima (who is also CEO of Egyptian Steel) told Al Mal that ...

Egypt: South Valley Cement discusses new Beni Suef line

05 December 2016, Published under Cement News

Ahmed El-Mekati, board member of South Valley Cement Company (SVCC), has said the company is looking into the investment cost of a new 1.5Mta production line, as the cost of importing the production line’s components has increased with the EGP’s flotation. SVCC is due to hold a meeting this month to discuss the launch of the new line and study available financing options. It is compare the value of borrowing from banks and increasing its capital in the stock market. The new line would ...

Egyptian government announces award of three new plant licences

01 December 2016, Published under Cement News

The Egyptian Industrial Development Authority has today announced that three firms have been successful in their bids to build new cement plants, local media reports. The licences, which will permit the construction of new integrated works with between 1.5 and 2.0Mta capacity, were awarded to El Sewedy Cement, South Valley Cement and a third firm, identified in the article as Egyptian Cement. El Sewedy, which currently has around 2.3Mta of cement capacity, will be permitted to build a ...

Sinai Cement swings into EGP7.7m 3Q profit

30 November 2016, Published under Cement News

Egypt’s Sinai Cement reported a profit of EGP7.65m in 3Q16 vs a 3Q15 loss of 24.47m. In the first nine months of 2016, the company turned a profit of EGP23.02m (US$426,111), a significantly better result than the previous year when the company reported a loss of EGP53.16m, taking into account minority rights.

Developing AF in Egypt

16 November 2016, Published under Cement News

With the increasing scarcity of natural gas and the hike in gas prices, Egypt’s cement producers are seeking alternative ways of firing their kilns. The availability of MSW and agricultural waste provides a good foundation, but several challenges need to be overcome. By MVW Lechtenberg, Germany. The need for waste management and the development of its related infrastructure provides Egypt's cement industry with an opportunity to support society Cement consumption in Egypt rea...

Egypt: cement plants to use 15% of waste by 2030

02 November 2016, Published under Cement News

The Ministry of Environment's submitted plan that seeks to encourage the increase in waste used as alternative fuel in cement plants to 15 per cent by 2030 has been approved by Egypt’s cabinet, according to the Minister of Environment, Khaled Fahmy. Mr Fahmy told Daily News Egypt that the cabinet had agreed to the plan, adding that discussions are underway with heads of plants to discuss issues they face in using waste as fuel. "The real problems facing investors in the waste recycling bus...

Egypt: Ain Sokhna plant a step nearer to reality

31 October 2016, Published under Cement News

A cement company plans to establish a cement factory on the Ain Sokhna desert road with a 1.5Mta clinker production capacity. Ahmed Abdelmoghny, managing director of Premiere Financial Consultants, said that his company seeks to provide funds worth EGP3bn (US$337m) annually to an undisclosed cement company. Moreover, he said that the cement company will upgrade its existing lines. The implementation period of the project is 24 months following the establishment date, with Mr Abdelmoghny n...

Egypt: ASEC to sell Djelfa plant project

26 October 2016, Published under Cement News

Egypt-based ASEC Group has reached an agreement with Algerian investors for the sale of a part-constructed cement plant site in Djelfa for US$60m. Information regarding the Algerian investors was not disclosed. The realisation of a 3.5Mta plant in Djelfa was launched by ASEC in  2008 with an investment of US$413m, but due to lack of funding the project failed. In 2012 the Minister of Industry revealed that Algerian banks refused to finance the project.

Egypt: mixed 9M16 results for Suez and Tourah

24 October 2016, Published under Cement News

Suez Cement reported a net profit of EGP49.6m (US$5.59m) for the first nine months of 2016. For the third quarter the company saw losses of EGP-66.9m, an increase from EGP-63.3m the previous year. Tourah Cement improved its net loss by 50.4 per cent from EGP-107.203 in 9M15 to EGP-53.149m in Jan-Sep 2016, according to a bourse filing. In the third quarter the company reported a 43 per cent fall in net loss to EGP21.3m, compared with EGP37.4m in 3Q15.

Egypt: manufacturers encouraged to increase AF use

14 October 2016, Published under Cement News

The Minister of Industry and Foreign Trade, Tarek Qabil, announced that the industry has completed a study on the use on alternative fuel sources to fossil fuels in Egyptian cement plants. Mr Qabil said that the ministry plans to boost cement factories’ reliance on alternative fuel sources such as coal by 6.4-30 per cent within the next 5-10 years. He went on to say that the total coal needs of the country’s cement plants are expected to reach 9.7Mta by 2025. Increasing the use of alterna...