Cement News tagged under: Egypt
Sinai Cement records improvement in 201812 March 2019, Published under Cement NewsEgypt’s Sinai Cement has reported that its standalone loss has narrowed by 13.7 per cent YoY in 2018 to EGP305.89m (US$17.56m), compared to EGP354.73m in the previous year. The improvement has been attributed to investment revenue and lower expenses, as well as collecting credit interests. However, revenue declined 37.7 per cent to EGP803.68m from EGP1.29bn. The company noted that cement consumption in Egypt fell five per cent in 2018. |
Suez Cement returns to profitability in 201807 March 2019, Published under Cement NewsEgypt’s Suez Cement reported a net profit of EGP121.43m (US$6.95m) in its full-year 2018 consolidated results, compared with a loss of EGP1.13bn in the previous year. Sales increased 14.9 per cent YoY to EGP7.42bn from EGP6.46bn. The company’s standalone profit also increased to EGP199.86m for 2018, against a loss of EGP441.79m in 2017. |
Misr Beni Suef and Alexandria Cement report improved results in 201801 March 2019, Published under Cement NewsEgypt-based cement companies Misr Beni Suef Cement and Alexandria Cement have posted improved results in 2018. Misr Beni Suef Cement posted net profits of EGP241.491m (US$13.8m) in 2018, more than twice its net profits of EGP110.616m announced in 2017. Alexandria Cement reported a reduction in its consolidated net loss in 2018, which fell to EGP394.166m from EGP513.934m in 2017. Stand-alone losses also decreased to EGP251.976m in 2018 to EGP401.794m in the previous year. |
Arabian Cement’s 20 by 202020 February 2019, Published under Cement NewsTo diversify its fuel use and ensure stable plant operation, Arabian Cement Co introduced alternative fuels (AFs) on Line 2 at its plant in Suez, Egypt. Following its initial success, the company decided to lift its thermal substitution rate (TSR) by installing a hotdisc AF system on Line 1 as it aims to raise its TSR to 20 per cent by 2020. By Saeed Abou Hussein, Arabian Cement Co, Egypt. To ensure a reliable and stable fuel supply, Arabian Cement Co converted its single-fuel ceme... |
Improving fuel security12 February 2019, Published under Cement NewsGermany-based Gebr Pfeiffer has successfully completed an EPC turnkey project to build a complete solution for fuel conversion and coal/petcoke grinding in the existing plant of Building Materials Industries Co (BMIC) in Assiut, upper Egypt. The new grinding facility enables BMIC to improve its fuel security in today’s volatile markets. By Ahmed Essam, Gebr Pfeiffer, Germany. Figure 1: the grinding area at BMIC’s Assiut plant includes an MPS 2800 BK VRM and process filter with flow... |
When the going gets tough06 February 2019, Published under Cement NewsThe north African cement sector is facing a challenging time as declining demand has put into perspective the current overcapacity in the industry. With most of the region affected, export options are limited. Higher energy costs have also brought further challenges in some countries. By Kais Kriaa and Fatma Charfi, Alpha Mena, Tunisia. With production capacity tipped to reach 30Mta in 2019, Algeria’s cement industry has been transformed and has now become a net exporter of cement.... |
HeidelbergCement04 February 2019, Published under Cement NewsHeidelbergCement has sold, or agreed the sale of, a number of assets. These include a 50 per cent interest in Ciment Quėbec, land in the Cairo area that used to have a cement works and a minority stake in Syria. The agreed sale of the activities in the Ukraine include one integrated cement works, one grinding plant, two quarries and two ready-mixed concrete batching plants. In total, these disposals add up to in excess of EUR150m. |
ACC announces new solar project for Egyptian plant17 January 2019, Published under Cement NewsArabian Cement Co (ACC), in collaboration with Solarize Egypt, has announced a new solar energy project at its Suez plant. The EGP90m (US$5.02m) plans will be financed through the Qatar National Bank, while the European Bank for Reconstruction and Development will provide a grant and technical support. According to Sergio Alcantarilla, CEO of ACC, the project will enter operation in the 2Q19. The plant will be the only one in the country to use solar energy as part of its energy mix. "Ou... |
HeidelbergCement updates on portfolio optimisation15 January 2019, Published under Cement NewsHeidelbergCement has reported that it closed the divestment of its 50 per cent share in Ciment Québec and its minority participation in Syria in December 2018. In addition, a former cement plant area in the Cairo metropolitan area, Egypt, has been auctioned and the divestment of its Ukrainian business has been signed. The closure of both the latter transactions is expected to occur in 2019. These divestments have a total value exceeding EUR150m and is expected to have a slightly positive e... |
No reprieve for National Cement Company14 December 2018, Published under Cement NewsHisham Tawfik, Egypt's Minister of Public Business Sector, confirmed that the state-run National Cement Company (NCC) of Egypt will be shut down. NCC had closed after the public business sector ministry confirmed the difficulty of reforming the company's financial condition as it required investments of EGP1.5bn (US$873.5m). The cement producer's workers have been compensated with 180 per cent of their legal rights, added Mr Tawfik. |