Cement News tagged under: Egypt

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EMG planning new Egyptian plant

15 June 2017, Published under Cement News

The Electro-Mechanical Design Group (EMG) is conducting preliminary studies for the construction of a  new ce ment plant in Egypt having secured the cement licence prospectus documents. Vice chairman Islam Solaiman, told Daily News Egypt that the plant will be in Foukah area in Marsa Matrouh. It will serve  demand for cement in the governorate and possibly export to Libya and other Arab countries in the future.

Gebr Pfeiffer delivers complete coal grinding plant to Egypt

12 June 2017, Published under Cement News

BMIC, headquartered in Cairo, awarded Gebr Pfeiffer a contract for a complete coal grinding plant on a turnkey basis for its cement plant in Assiut, Egypt. As a single-source contractor, Gebr Pfeiffer, together with its global and local partners, suppliers and subcontractors, is responsible for the complete scope, including engineering, supply of plant parts, imported or locally manufactured, construction and commissioning of the plant. Detailed description of scope: •    procuremen...

Cemex to boost investment in Egypt

12 June 2017, Published under Cement News

Cemex plans to boost its investments in Egypt, according to Cemex Egypt’s President, Ramon Piza. The company, which owns a 5.5Mta plant at Assiut, plans to invest US$20m in the country this year, Piza said following a recent meeting with Egyptian Minister of Investment and International Cooperation, Sahar Nasr, in Cairo, according to Egypt Daily news. Mr Nasr has welcomed the Mexican company's intention to increase its investments in Egypt, pointing out that the new investment law ratified...

Sinai 1Q17 loss widens

31 May 2017, Published under Cement News

Sinai Cement reported an increase in losses by 55 per cent YoY during the first quarter of 2017, due to the rise of financing and administrative costs. The company said in a statement to the Egyptian Exchange (EGX) on Monday that losses amounted to EGP57.98m (US$3.2m) in 1Q17 compared to EGP37.28m in 1Q16. During the three-month period that ended 31 March 2017, sales increased to EGP385.6m from EGP292.6m in the same period last year. Total expenses grew 33 per cent to EGP68.5m compar...

Egyptian Cement Co seeks loan for Sohag plant

31 May 2017, Published under Cement News

Egyptian Cement Co has entered into negotiations with a local banking alliance to obtain a loan of EGP4bn (US$221m) to partly finance the cost of its first plant and construction materials complex in Sohag province. The alliance is made up of the National Bank of Egypt, Banque Misr, CIB and Arab African International Bank, sources told Al Mal newspaper. The details of terms and conditions memorandum are being agreed upon in preparation for addressing other local banks to contribute to ...

Arabian Cement launches round 2 of social start-up

22 May 2017, Published under Cement News

Egypt-based Arabian Cement Company (ACC) has launched the second round of its social start-up programme, continuing in partnership with Nahdet El Mahrousa (NM), TradeArabia reports. Building on the success of the first round, Khaleeha Suessi will offer entrepreneurship training for 15 shortlisted start-ups, out of which more than six start-ups will eventually receive seed funding and incubation services for one year. This round of Khaleeha Suessi is bringing together several community c...

National Cement post 1Q loss

15 May 2017, Published under Cement News

National Cement Co of Egypt reported losses of EGP40.4m (US$2.2m) in the first quarter of fiscal year 2016-17 against profits of EGP19.7m for the same period that year before, as shown by the company’s unaudited financial statements. The rise in losses between July and September 2016 is attributed to the increase in provisions by EGP37.2m, according to the company’s statement to the Egyptian Exchange (EGX) on Sunday.

Arabian Cement quarterly net profit rises

09 May 2017, Published under Cement News

Arabian Cement Co of Egypt posted consolidated net profits of EGP59,741,627 (US$3.3m) in the first three months of this year, versus net profits of EGP34,145,321 in the same period a year ago, the company announced in a statement sent to Egyptian Stock Exchange. Moreover, it posted standalone net profits of EGP59,101,824, versus net profits of EGP 33,324,334 in the same period a year ago. Separately, the company said it is to undertake three upgrade projects involving an investment of m...

Egypt: FLSmidth wins El Sewedy Cement contract

08 March 2017, Published under Cement News

FLSmidth has been awarded an order from El Sewedy Cement Company for the engineering, procurement and supply of equipment for the expansion of a cement production line. The plant will be built at Ain Soukhna in Suez Governorate, Egypt. Scope of supply: a complete state-of-the-art cement production line with the latest environmental pollution control systems and technology for the highest levels of energy efficiency and maintainability OK TM 39-4 vertical mill for raw grinding E...

Egypt: Alexandria Cement reports EGP34.1m in 4Q16

08 March 2017, Published under Cement News

Alexandria Cement posted a profit of EGP34.1m (US$1.93m) in 4Q16, a significant improvement of its business result when compared with the EGP98.5m loss posted in 4Q15. In 2016 losses fell by 76.1 per cent from EGP-214.2m in 2015 to EGP-51.12m one year later. Total sales increased 25 per cent YoY to EGP2.58bn, up from EGP2.05bn in 2015.