Cement News tagged under: Egypt
Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries06 October 2015, Published under Cement NewsEgyptian investment company Qalaa Holdings announced Monday that it received a preliminary acquisition offer from Qena Cement to buy stakes in both its subsidiaries ASEC Minya and ASEC Ready Mix Concrete. According to the offer terms, Qena Cement t is seeking to acquire 46.5 per cent stake and 55 percent stake in ASEC Minya and ASEC Ready Mix Concrete respectively. Qalaa owns indirect stakes of 24.1 per cent and 28.5 per cent in both ASEC Minya and ASEC Ready Mix Concrete respectively. Me... |
Egypt prices decline on slower construction activity28 September 2015, Published under Cement NewsEgyptian prices have declined three times in the past two months as a result of increased supply and low demand in the market, local media have reported. A ton of cement now costs EGP550 (US$70), down from EGP700 (US$89) at the beginning of August, the construction materials division of Cairo Chamber of Commerce Ahmed al-Zeiny told Youm7 Sunday. Zeiny attributed the decline to the lack of construction activities this month due to holidays such as al-Adha feast. He also cited the dollar s... |
Qalaa Holdings first-half revenues up by a third, Egypt23 September 2015, Published under Cement NewsQalaa Holdings (formerly Citadel Capital) released its consolidated financial results for the quarter ending 30 June 2015, reporting revenues of EGP2086.8m, up 33.7 per cent compared to the same quarter of last year. In the second quarter alone, the energy and cement divisions contributed some 70 per cent of total revenues. On a six months basis, revenues climbed 37.8 per cent YoY in 1H15 to EGP4,034.3m. EBITDA meanwhile stood at EGP565.1m in the first half of 2015, a 169 per cent increa... |
Egypt: Ministry to assess environmental impact of coal use18 September 2015, Published under Cement NewsEgypt's Environment Minister, Khaled Fahmy, has agreed to assess the environmental impact of seven out of 19 cement companies that have conducted studies to use coal as an alternative source of energy. The minister told the MENA news agency that the approved studies included ways of reducing greenhouse gases, as the ministry requested. (Source : Egypt Independent) |
Egypt: South Valley Cement to double capacity03 September 2015, Published under Cement NewsTamer Abdel Rahman, investor relations manager of South Valley Cement, said that the company intends to double its production capacity to 3.2Mta. He added that the intended increase is supported by two new cement mills under construction, Alborsa newspaper reported. Simon CDI is building the new line which will have a cement capacity of 1.7Mta. The new capacity is due to come on-stream in 2017. |
Arabian Cement approves selling frozen stocks of shareholders, Egypt02 September 2015, Published under Cement NewsArabian Cement’s ordinary general assembly yesterday approved the selling of shareholders frozen shares. The OGM refused a Board of Directors restructure, and is to retain the same members of the Board of Directors. (Source : EGX & Arab Finance editor) |
New licences to be issued for Upper Egypt25 August 2015, Published under Cement NewsEgypt's Ministry of Industry and Trade is to grant new licences for cement factories in Upper Egypt governorates next September, according to local press reports. Minister Monir Fakhry Abdel Nour said during an interview with the "60 Minutes" radio show on Radio Masr that the new licences target meeting future needs of local market for cement until 2020. The ministry will announce the new licences after completing studies on them. (Source: Amwal Al Ghad). |
Egypt: South Valley signs contract with Sinoma CDI20 August 2015, Published under Cement NewsEgypt-based South Valley Cement Company (SVCE) has signed a contract with Chinese firm Sinoma CDI, to carry out a new grinding line, vice chairman Hussien Shbakshy said Wednesday. The contract is reported to be for a total value of EGP300m (US$38.3m). |
Egypt: environment rules to harden13 August 2015, Published under Cement NewsThe Environment Ministry will stiffen penalties against violators of environmental regulations in the face of the so-called black cloud. The dark polluting haze has been attributed to the burning of coal and farmers burning rice straw after their harvest. The ministry will launch investigations against drivers of cars with excessive emissions as well as cement and brick factories, Environment Minister, Khaled Fahmi, said. He added that the ministry will not condone coal-fired power pla... |
Egypt to postpone the issue of new licences12 August 2015, Published under Cement NewsEgypt’s General Authority for Industrial Development announced it will postpone the issuing of licences to establish new cement factories to review the cement market in Egypt, according to a report in the Egypt Independent. The authority was planning to issue between 12-14 licences for cement factories during the current fiscal year. Each factory was to produce 1.5Mta in different governorates. Due to the recession in domestic and global markets, and an increase in the untapped potential... |