Cement News tagged under: Egypt

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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...

Egypt: NCC incurs US$13.5m losses

06 October 2016, Published under Cement News

Egypt’s National Cement Company (NCC) incurred net losses of EGP119.9m (US$13.5m) during fiscal year 15-16, an improvement when compared to the EGP282.5m registered for the previous year. NCC chairman, Saeed Abdel Moty, reported that the company attained revenues of EGP858.8m in FY16-16 versus EGP756.5m a year earlier. Mr Moty added that NCC has recently invested approximately EGP1.0bn in its environmental improvement project.

Egypt: Wadi El Nile Cement to upgrade clinker output

20 September 2016, Published under Cement News

Wadi El Nile Cement Company (WNCC) has given FLSmidth an order to upgrade its plant from 6000 to 7200tpd of clinker. The order is contained within a new five-year maintenance contract with WNCC for its cement plant located approximately 120km south of Cairo. The arrangement is an extension of the original 2010 contract. "The continuation of the contract is visible proof of the successful partnership we have with WNCC. We have now operated their 6000tpd plant for almost five years. The p...

Egypt: FLSmidth awarded WNCC upgrade and operation contract

15 September 2016, Published under Cement News

The Wadi El Nile Cement Company (WNCC) has signed a new five-year contract with FLSmidth that will see the Danish firm continue to maintain and operate a 2Mta plant located 120km south of Cairo. In addition to the operations contract, FLSmidth will upgrade the plant to increase its capacity to around 2.4Mta. The new capacity is expected to come online by mid-2017. FLSmidth Cement Division Group Executive Vice President, Per Mejnert Kristensen, said: “The continuation of the contract is...

Egypt sets out on a new course

05 September 2016, Published under Cement News

President Abdel Fattah al-Sisi has managed to return a certain degree of stability to Egypt, with the economy expected to show a gradual recovery. A broad infrastructure programme and robust housing demand is providing the foundation for a strong growth in construction, while the government is calling for the cement industry to increase its capacity. The urgent need to expand Egypt's inrastructure and deal with the considerable housing shortage are expected to drive cement demand f...

Cimpor takes massive provisions in Brazil

02 September 2016, Published under Cement News

Cimpor's first-half turnover dropped by 31.1 per cent to EUR897.3m, while EBITDA declined by 39.1 per cent to EUR170.1m. The amortisation and provision charge jumped from EUR100.6m to EUR527.9m as a result of a EUR433m good-will impairment charge relating to Brazil. This led to the trading result falling from a profit of EUR178.6m to a EUR357.7m loss and after a 9.2 per cent increase in the net financial charge to EUR182.2m there was a pretax loss of EUR539.9m against a profit of EUR11.8m. A...

Egypt: Sinai Cement returns to profit

30 August 2016, Published under Cement News

Sinai Cement has announced that it earned a net profit of EGP15.4m (US$1.7m) for the first half of 2016, reversing the EGP28.7m losses that it recorded in the same period last year, Mubasher reports. Performance was even more encouraging when considering the second quarter alone. In the period April to June 2016, Sinai’s profits were EGP52.6m as compared to a loss of EGP17.6m in 2015. 

Egypt: South Valley profits up 33%

24 August 2016, Published under Cement News

South Valley Cement announced a net profit increase of 33 per cent for the 1Q16. A net profit of EGP42.85m (US$4.82m) was registered in the quarter compared to EGP32.35m for the same quarter in the previous year. Revenues for the company reached EGP254.82m (US$28.7m) in 1Q16, a YoY increase of 14.3 per cent compared to EGP223m for 1Q15.