Cement News tagged under: Egypt

RSS feed

Egypt's cement production drops 20% because of gas shortages

11 June 2013, Published under Cement News

A shortage of natural gas in Egypt and subsequent constraints in electricity supply over the last four months has forced the country's cement industry to reduce production by 20 per cent. Peaking electricity use in the summer months is expected to aggravate the decline. An even steeper drop in production capacity of 25 per cent was incurred by Arabian Cement Company (ACC)'s Suez plant after the operator was struggled to come to terms with unforeseen gas and power shortages. The cement comp...

Cemex plans US$100m Egyptian investment

04 June 2013, Published under Cement News

Cemex announced today that it expects to invest approximately US$100m (approximately EGP700m) to significantly improve its operations in Egypt and continue supporting the country’s housing, commercial and infrastructure development. Yehia Hamed (left), Egyptian Minister of Investment and Sergio Menendez, President of Cemex Egypt The planned investments were discussed in a meeting between Sergio Menendez, President of Cemex in Egypt, and Yehia Hamed, Egyptian Minister of Inves...

ACC ready to make the switch from gas, Egypt

31 May 2013, Published under Cement News

Arabian Cement Company (ACC) has taken all the steps needed to make the switch from gas to coal and refuse derived fuel, according to the company's chief. Jose Maria Magrina, CEO of Egypt-based ACC, told local press: "ACC is ready to substitute 100 per cent of the amounts of gas required to operate its plant and has applied for the necessary government permits to do so on 14 March 2013. However until now no answer has been received from the government, even though this is something that w...

ASEC Minya launches clinker production at 2Mta plant, Egypt

30 May 2013, Published under Cement News

Citadel Capital announced that ASEC Minya (formerly the Arab National Cement Company), a key subsidiary of portfolio company ASEC Cement, has started the production of clinker at its 2Mta cement plant in Minya. Cement production is expected to commence within one month. Located 200km south of Cairo and 50km north of the city of Minya, ASEC Minya is the second greenfield cement plant to be launched by ASEC Cement in five years. The first was Takamol Cement in Sudan, a 1.6Mta plant that bega...

Titan recovers in the USA

15 May 2013, Published under Cement News

Titan's first-quarter turnover showed a 7.8 per cent improvement to €243m while the EBITDA fell by 29.4 per cent, in line with the 29.3 per cent reduction seen this time last year, to €24.3m. The pre-tax loss rose by 33.5 per cent to €23.5m and the net attributable loss rose by 39.7 per cent to €27.1m. Net debt at the end of March, however, declined by 20.1 per cent to €630m, giving a gearing level of 41.6 per cent, compared with 48.6 per cent a year earlier. Group cement shipments ro...

Lafarge sales down on 1Q weather effect, confirms 2013 goals

07 May 2013, Published under Cement News

Lafarge reported a six per cent decline in sales in the three months to the end of March as it was impacted by harsh winter weather conditions and production issues in Algeria and Egypt. However, the group said its performance and innovations targets remain on track and the company is on course to achieve its net reduction goal of less than EUR10bn this year. First-quarter volumes were notably affected by a particularly long winter in Europe and North America, together with a high 2012 co...

OCI to settle tax dispute with Lafarge

02 May 2013, Published under Cement News

OCI has agreed to pay about EGP7bn (US$1bn) over five years to settle a tax dispute on the sale of its cement unit to Lafarge back in 2007, Bloomberg has reported. The payments will start in May this year and end in 2017, OCI said. The Egyptian Tax Authority determined that "there was no tax evasion by the company and is exonerating management and the company from any wrongdoing related to the transaction," the company said.

Suez Cement production scaled back 30% due to energy shortages

10 April 2013, Published under Cement News

Egypt-based Suez Cement said that it scaled back production by as much as 30 per cent last year due to a lack of fuel supplies.  "A lack of fuel supplies has cut our annual production of 12Mt by between 20-30 per cent since the start of the year," Mohamed Shanan, director of business development of Suez Cement, told Reuters. In terms of fuel price hikes, Mr Shanan told reporters at a recent energy conference that: "Any increase in (fuel) prices must be matched by an increase in cement ...

ASEC signs training programme initiative with Minya University, Egypt

01 April 2013, Published under Cement News

ASEC Minya and ASEC Ready Mix, two subsidiaries of ASEC Cement have signed a memorandum of understanding (MoU) with Minya University to help prepare students with the skills they need to seek meaningful employment in their fields.  The Governor of Minya, D. Mostafa Eissa, Minya University President, Dr Mohammed Sherif and ASEC Cement Chairman and CEO Giorgio Bodo were in attendance at the signing ceremony.  The MoU, the first of its kind in the governorate of Minya, aims to promote the...

Panel to review Egypt gas price hikes

18 March 2013, Published under Cement News

A panel of judges is set to review an appeal made by five cement producers over gas price hikes by the Egyptian government, a Cairo administrative court said. According to reports by Bloomberg, a panel is to look into appeals by Tourah Portland Cement, Suez Cement, Alexandria Cement, Beni Suef Cement and  Helwan Cement against the fuel price incrased that was started by Prime Minister Hisham Qandil in January 2012.