Cement News tagged under: Egypt

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Egypt's Ministry of Industry to issue a condition of contract for new production licences

04 January 2016, Published under Cement News

Egypt's Minister of Industry and Foreign Trade, Tarek Qabil, announced that the ministry would issue conditions for tender documents and requirement specifications of cement production in the coming days to meet the future needs of the local market. The minister said that the Cabinet has recently approved defining a fixed value for the cement licences paid to the government based on the economic feasibility, according to a report in Daily News Egypt. The government will also be accepting qu...

Egyptian cement prices 'stable' through the year

24 December 2015, Published under Cement News

Egyptian cement prices were considered stable through fiscal 2015 as cement companies provided their final report of monthly disclosures on cement prices to the Ministry of Supply for the month December, Minister of Supply Khaled Hanafy said in a Wednesday statement. The average cement production per week in December was recorded at 1Mt compared to an average of 989,000t per week in November, Mr Hanafy added. As part of the Ministry of Supply's attempt to ensure market fairness, Hanafy note...

Egypt: Beni Suef Cement starts SRC production

15 December 2015, Published under Cement News

Beni Suef Cement has started to produce sulphate-resistant cement (SRC) for use in tunnels and other special projects. The Egyptian cement producer is aiming to boost sales by selling 200,000t of this new product in 2016, in addition to sales of ordinary Portland cement.

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 ...

Egypt: Arabian Cement Co reports rise in 9M15 volumes but lower prices

03 December 2015, Published under Cement News

Arabian Cement Co (ACC) of Egypt reported a four per cent decline in revenues to EGP1711m (US$219m) for the first nine months of 2015, due to a 12 per cent decline in prices which was partially offset by a nine per cent increase in volumes. Cost per tonne stood at EGP329/t less than the EGP352/t recorded in 9M14. The cost reduction is due to less imported clinker and enhanced energy efficiency. Meanwhile, cost per tonne for the 3Q15 was reduced by 12 per cent YoY to EGP308/t. EBITDA st...

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...

Egypt: residents' angry over Titan’s Alexandria emissions

23 November 2015, Published under Cement News

Titan's Alexandria cement plant is being investigated in terms of environmental concerns after local residents’ complaints. A complaint was filed on Sunday at the Alexandria Prosecution against the Portland cement factory, reported the Daily News Egypt. Local residents are worried about the use of coal at the 40-year-old plant in Wady Al-Qamar in northwest Alexandria. Hany A, one of the residents, said: "This is not the first time we wake up to this smell. We cannot even breathe. This hap...

Egypt: Alexandria Portland Cement Co sees EGP116m loss in 9M15

09 November 2015, Published under Cement News

Egypt’s Alexandria Portland Cement Company reported a EGP116m (US$14.4m) loss in the first nine months of 2015, in an official statement to the Egyptian Stock Exchange (EGX). This compares with a 9M14 profit of EGP71m. The latest results continue the trend noted in 1H15, where the  company recorded losses worth EGP 67.7m, unlike in the first six months of 2014 when its profits stood at EGP 38.5m.  

Egypt: SCG reports 18% drop in 3Q revenue

03 November 2015, Published under Cement News

Suez Cement Group of Companies (SCGC) reported an 18 per cent decrease in revenues for the third quarter of the year versus the same period in 2014 and 12 per cent for the first nine months. The company said that during this period the market demand experienced a limited growth (2.1 per cent for the quarter, 1.6 per cent for the nine months). Combined with a steep reduction in exports, a marked oversupply was witnessed in the domestic market, causing prices to decline. This overall t...

Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries

06 October 2015, Published under Cement News

Egyptian investment company Qalaa Holdings announced Monday that it received a preliminary acquisition offer from Qena Cement to buy stakes in both its subsidiaries ASEC Minya and ASEC Ready Mix Concrete. According to the offer terms, Qena Cement t is seeking to acquire 46.5 per cent stake and 55 percent stake in ASEC Minya and ASEC Ready Mix Concrete respectively. Qalaa owns indirect stakes of 24.1 per cent and 28.5 per cent in both ASEC Minya and ASEC Ready Mix Concrete respectively. Me...