Cement News tagged under: Egypt
Suez Cement says profit transfers hit by foreign currency crisis in Egypt09 March 2016, Published under Cement NewsSuez Cement is struggling to transfer shareholder profits out of Egypt because of a foreign currency crisis, Reuters reports. Egypt has been struggling to revive its economy since the uprising in 2011 that drove major sources of foreign currency such as foreign investors and tourists away. Pressure for a devaluation of the pound has been building but the central bank has kept it fixed at 7.7301 pounds per dollar. The bank has been trying to conserve hard currency by prioritising its use fo... |
Arabian Cement Co launches new cement brand in Egypt22 February 2016, Published under Cement NewsArabian Cement Company (ACC) recently announced the launch of its latest OPC brand in Egypt, under the brand name "Al Nasr". "We are extremely pleased to announce launching our new cement brand in Egypt, which reinforces our position as one of the largest cement producers in the market," said Jose Maria Magrina, ACC chief executive officer. "Projected to increase our competitiveness in the designated regions by diversifying our customer base to include price-sensitive customers, Al Nasr i... |
Egypt receives 37 applications for new coal-fired cement plants16 February 2016, Published under Cement NewsA total of 37 companies have applied for licences to construct new coal-fired cement plants in nine governorates, Daily News Egypt reported on Saturday citing Egypt’s Industrial Development Authority (IDA). Ismail Gaber, head of the IDA, said the new licences aim to increase investments in the cement industry to meet local consumption. Minister of Industry, Tarek Qabil, announced earlier this year that the IDA would issue licences to establish cement factories in the governorates of Be... |
Suez Cement results impacted by lower selling prices, higher energy costs12 February 2016, Published under Cement NewsSuez Cement Co, part of the Italcementi group, reported an 8.3 per cent drop in consolidated revenues for 2015 to EGP5.64bn (US$720m) from EGP6.15bn a year earlier. It recorded a net loss after non-controlling interest of EGP60m, from a prior-year profit of EGP50m. The company said that in the 4Q15, despite the strong demand and a balanced supply and demand situation, selling prices did not keep pace and further declined about three per cent from the prior quarter, cumulating in a 15 per c... |
Suez Cement to convert Helwan and Torah plants to use coal and RDF02 February 2016, Published under Cement NewsSuez Cement is aiming to convert Torah and Helwan plants to use coal and RDF in addition to the already-used HFO following the conversion of Kattameya and Suez plants in 2015. According to the management, the company would start the conversion operation in February and July for Helwan and Torah plants, respectively. This conversion operation is expected to take 12-18 months and would result in the usage of coal for 70 per cent of the energy for both plants. Helwan Cement would use RDF 20... |
FLSmidth receives third O&M contract from Egyptian producer01 February 2016, Published under Cement NewsFLSmidth has signed a contract with Arabian Cement Company (ACC) for operation and maintenance of the production lines at its cement plant located near the city of Suez in Egypt. The parties have agreed not to disclose the value of the contract, which covers five years of operation and maintenance of two production lines with a capacity of 6000tpd each. FLSmidth has been operating and maintaining the two lines since 2008 and 2010, respectively. Both lines were built by FLSmidth. The scope ... |
Sinoma signs contract with Egypt's South Valley Cement01 February 2016, Published under Cement NewsEgypt-based South Valley Cement Co has signed an EPC contract for a grinding unit with Chinese firm Sinoma CDI, to enable its plant to use petcoke, with a grinding capacity of 50tph. Under the US$19.5m contract, the Chinese firm will also supply spare parts for two years, the company said in a bourse statement. |
Egypt issues licences for new cement factories in Upper Egypt28 January 2016, Published under Cement NewsEgypt's Ministry of Trade and Industry has issued new 14 licences for cement factories in Upper Egypt governorates, Minister Tarek Qabil announced Wednesday. According to the minister, the factories are set to operate with coal, providing them with the necessary energy security for stable cement production. Mr Qabil added that there are six factories currently operating with coal and are committed to following all environmental standards. (Source: Amwal Al Ghad) |
Egypt’s IDA invites new plant tenders18 January 2016, Published under Cement NewsEgypt’s Industrial Development Authority (IDA) has invited tenders by local and international companies interested in constructing cement plants with a capacity of 2Mta in various governorates. The new production licences are for the construction of new facilities in Beni Suef, Minya, Qena, Sohag, Aswan, El-Wadi el-Gedid, Suez, Marsa Matrouh and South Sinai, according to a report published by Ahram news yesterday. The tender documents are to be issued from 20 January 2016 until 10 Febru... |
Suez Cement plans to complete coal conversion project by end-2016, Egypt08 January 2016, Published under Cement NewsSuez Cement, part of the Italcementi group, plans to complete its preparations for coal usage at its plants by late 2016, local press reported, citing chairman Omar Mehanna Wednesday. The conversion process involves an investment of around US$110m. Mr Mehanna further told Amwal Al Ghad business magazine that Suez Cement had completed the conversion for coal usage at two plants out of five during 2015. The company aims to use coal as an alternative energy source for the production of cemen... |