Cement News tagged under: Egypt
National Cement posts net loss in 1HFY1831 January 2018, Published under Cement NewsNational Cement has announced that its losses increased during the first half of FY18, ended December 2017. The loss increased by 136.7 per cent, to EGP496m (US$28m) from EGP209 of the year-ago period, according to Egypt Today. The unaudited results also showed a fall in revenue to EGP726m, compared to EGP940m recorded in the 1HFY17. The company also stated that it was expected to record profits of EGP17.7m for FY18. However, the present situation suggests that National Cement may post a ... |
National Co for Cement to avoid losses by coal mill22 January 2018, Published under Cement NewsTo help reduce the losses recently incurred by Egypt-based National Co for Cement, its new Chairman, Emad el-Din Mustafa has said the company will purchase a coal mill. The US$250m will reduce the cement company’s reliance on gas, which deepens the losses to more than US$3m YoY, according to Mr el-Din Mustafa. The company will also focus on training and updating workers’ efficiency, he added. |
Lack of uptake of Egyptian cement licences18 January 2018, Published under Cement NewsEgypt’s Industrial Development Authority (IDA) has not received any requests to obtain 11 cement plant licences, which were re-offered by the authority a year ago despite eight local and foreign companies purchased the statements of work before the end of December 2017, according to sources quoted in Arab Finance. The IDA offered 14 licences in 2016 to build new cement plants or expand operating facilities in nine governments across the country. While SVC, Elsewedy Cement and Egyptian Cem... |
Egypt cement exports rise 49% in 201717 January 2018, Published under Cement NewsEgypt's cement exports increased 49 per cent during 2017 to reach US$94m, compared to US$63m in 2016, according to a report from the General Organization for Exports and Imports Control. Egypt's exports of construction materials' sector also rose three per cent in 2017 to US$5.08bn, compared to US$4.92bn a year earlier, according to the Export Council for Building Materials (ECBM). Meanwhile, Egypt's exports for the mineral industries sector increased one per cent to reach US$3.9bn in 20... |
Arabian Cement plans expansion into Africa and Asia15 January 2018, Published under Cement NewsArabian Cement is planning to expand into regional markets in Africa and Asia to boost its profitability amid strong competition in the Egyptian market, according to reports in the Daily News Egypt. To date the company, which has a output of around 5Mta, has exported to Libya, Kenya, Madagascar, Somalia and Yemen. Arabian Cement is a joint venture between Spain-based Grupo Cementos La Unión and a group of Egyptian investors. The company recently reached an agreement with the Natio... |
Schneider wins Assiut cement electrical order29 November 2017, Published under Cement NewsSchneider Electric has contracted to supply and install all electrical works for Cemex's Assiut cement factory. Mohamed Shahin, head of the company’s industries sector in Egypt and Africa, said that Schneider Electric contracted with Assiut cement factory to supply the low and medium electrical panels and will begin supply next year. |
Arish cement truck drivers to receive military protection20 November 2017, Published under Cement NewsEl Arish Cement Company factory in northern Sinai has been visited by a military delegation after armed militants attacked contracted drivers to reassure them of military protection. The Second Field Army chief General Khalid Mujawar, central Sinai battalion, aimed to address the fact that contracted drivers had refused to resume work after the 9 November attack on eight trucks that left nine people dead. The halt in transportation has left tonnes of unsold cement stockpiled in the factory... |
Minya's coal storage solution15 November 2017, Published under Cement NewsTo help meet the Egyptian rules and regulations on the storage of coal, ASEC Cement Company called on OYK Consultants to design and deliver a suitable storage solution quickly and cost-effectively. By OYK Engineering Consultants, Egypt. Erection of the steel structure at Minya’s new coal storage facility Faced with insufficient supplies of natural gas, the Egyptian government turned to imported coal as an energy source for the country’s cement industry. A number of rules and reg... |
Alexandria Cement losses widen to EGP359m15 November 2017, Published under Cement NewsAlexandria Cement, Egypt, reported audited financial results for 9M17 ended 30 September 2017 with consolidated losses widening to EGP-358.78m (US$-20.3m) when compared with EGP-85.17m in the year-ago period. In addition, standalone net losses increased from -EGP177.6m to EGP-281m over the same period. |
Sinai Cement swings into the red in 9M1714 November 2017, Published under Cement NewsEgypt’s Sinai Cement has reported losses of EGP-253.5m (US$-14.4m) in the first nine months of the year, against profits of EGP21.8m in 9M16, as shown by the company’s independent financial statements. During the nine-month period, sales rose to EGP939.29m, up 1.1 per cent from EGP929.22m in the year-ago period. Sales costs quadrupled to EGP972.2m from EGP235.3m. |