Cement News tagged under: Egypt

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Sinai Cement awards FLSmidth contract to prepare for coal usage

25 July 2014, Published under Cement News

Sinai Cement Co (SCC) has awarded FLSmidth, the contract to provide the equipment to facilitate the use of coal, Daily News Egypt has reported. The Egyptian-based cement producer also said it would partner with local contractors and suppliers to equip the plant to use coal as an alternative energy to natural gas and fuel oil.

Egypt: Qena Cement 1H profit rises 14% YoY

24 July 2014, Published under Cement News

Egyptian cement producer Qena Cement’s first-half net profit increased by 14 per cent YoY to EGP165.3m (U$23m) compared with EGP144.9m a year earlier. The company’s sales for the six months to the end of June 2014 rose 25 per cent YoY to EGP559m. In other news, the company’s board has agreed to convert to using coal as an energy source at an investment cost of around EGP400m.

Suez Cement 1H earnings rise on cost control efforts

23 July 2014, Published under Cement News

Suez Cement Group of Companies (SCGC) posted an increase in revenues and earnings for the first half of 2014 which it attributed in part to cost control measures. While the outlook for cement demand is more encouraging, energy shortages remain a key concern for the Italcementi group company. SCGC, which operates a network of five production facilities across Egypt, reported a 23 per cent increase in consolidated revenues in the six months to the end of June 2014. Recurring EBITDA was six p...

Sinoma International secures Egyptian turnkey project

10 July 2014, Published under Cement News

China National Materials Company Limited's (CNBM) subsidiary Sinoma International Engineering has won a turnkey contract for two new cement 5775tpd kiln lines with the Ministry of Defense of Egypt. The project is to be situated in Sinai in Egypt, about 50km south of El-Arish. The contracts are said to be worth EUR270m.

Egypt: Gas prices increase for cement firms

07 July 2014, Published under Cement News

The government has raised gas prices for Egyptian cement factories to US$8/m British Thermal Units (BTUs) compared to US$6 previously, while fuel oil increased from EGP1500/t (US$209.8/t) to EGP2250/t (US$314.7/t). An official cement company spokesperson anticipated cement prices to increase in the coming days due to higher production costs. A number of cement companies operating in Egypt are looking to use coal as an alternative source of energy this year. “Energy represents 60 per cent o...

Misr Beni Suef signs equipment contract to facilitate coal usage

20 June 2014, Published under Cement News

Misr Beni Suef Cement has reportedly signed contracts with a European company for the equipment needed to operate a kiln line with coal, involving an investment of EGP200m (US$28m). A company source told local press that after the purchase the cement producer would operate one line with coal and the other with natural gas. Misr Beni Suef Cement is negotiating with several bank for financing part of the deal. (Source: Mist News)

ACC begins preliminary coal usage, Egypt

03 June 2014, Published under Cement News

Egypt-based Arabian Cement has started testing coal at its cement plant as part of plans to secure alternative energy sources. In April, the government approved the use of coal for energy production in the hope that it would prevent any further weakening of output levels due to energy restrictions. In addition, ACC has been making strides with the use of other energy sources. “The company has already completed the first phase of its plan for converting solid waste, which currently provi...

Egypt: Cemex signs new partnership with United Nations World Food Program

28 May 2014, Published under Cement News

Cemex in Egypt has given an additional donation to the United Nations World Food Program (WFP) to support its Food-for-Education program in Assiut governorate which will benefit more than 4000 people. Inaugurated at the governorate of Assiut today and under the auspices of the Governor of Assiut, Gen Ibrahim Hammad, this is the third partnership agreement Cemex signs with WFP. WFP will use this donation to provide daily nutritious snacks and monthly take-home rations during an entire year t...

Arabian Cement Co first-quarter update

23 May 2014, Published under Cement News

Arabian Cement Company (ACC) posted a EGP116.4m (US$16.3m) net profit for the first quarter of 2014. ACC was the first major listing on Cairo's bourse since the 2011 political uprising, raising US$110m.

Egypt: Arabian Cement Co IPO over-subscribed

15 May 2014, Published under Cement News

Egypt's Arabian Cement Company's initial public share offer was 18.5 times oversubscribed, an official at advising bank CI Capital told Reuters on Tuesday. The offer raised US$110m with 85.2 million shares sold in the offer, placed at 9 Egyptian pounds ($1.28) per share, said Hesham Gohar, managing director for investment banking at CI Capital, which was co-bookrunner on the offer alongside EFG-Hermes. Arabian Cement said on Sunday it had set the price for its IPO at 9 Egyptian pounds a sh...