Cement News tagged under: Egypt
Egypt: Qena Cement 1H profit rises 14% YoY24 July 2014, Published under Cement NewsEgyptian 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 efforts23 July 2014, Published under Cement NewsSuez 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 project10 July 2014, Published under Cement NewsChina 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 firms07 July 2014, Published under Cement NewsThe 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 usage20 June 2014, Published under Cement NewsMisr 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, Egypt03 June 2014, Published under Cement NewsEgypt-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 Program28 May 2014, Published under Cement NewsCemex 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 update23 May 2014, Published under Cement NewsArabian 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-subscribed15 May 2014, Published under Cement NewsEgypt'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... |
South Valley seeks alternative energy sources13 May 2014, Published under Cement NewsEgypt-based producer South Valley Cement is seeking alternative energy sources as securing sufficient fuel to operate production facilities has become one of its key challenges. Speaking at a press conference earlier this week, the company said it has prepared studies for the use of coal and agricultural wastes. However, company officials said the application of alternative energy sources suggested by the government will take at least 12 months. South Valley Cement said it would requ... |