Cement News tagged under: Egypt

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Egypt considers levy on cement exports

07 March 2013, Published under Cement News

Egypt’s Ministry of Industry and Foreign Trade Eng Hatem Saleh has said that the ministry is considering imposing a levy on cement exports as a result of increases in cement prices on the local market. In a statement released last Thursday by Egypt’s State Information Service, the Minister said that cement prices in the local market have increased from EGP420/t to EGP700/t, while there is a significant deficit in cement supply in the market which is also leading to increased prices. T...

Egypt: rising prices prompt monopoly concerns

05 March 2013, Published under Cement News

A recent rise in Egyptian cement prices has prompted the country’s Consumer Protection Agency to file a complaint with the Protection of Competition on price fixing allegations. The Consumer Protection Agency is claiming that cement companies have tactically agreed to raise cement prices, according to reports in Al-Masry Al-Youm press. The report states that the president of the Consumer Protection Agency, Atef Yaaqoub, has questioned the price increase given that cement supply has gone up...

Italcementi launches five-year bond, Italy

25 February 2013, Published under Cement News

Italcementi, the fifth-largest cement producer in the world, has launched a five-year bond of EUR350m at an issue price of EUR99.477 and a coupon of 6.125 per cent, according to reports in La Stampa. At the closure of the placement, orders exceeded EUR 2.5bn. Credit rating agency Moody's has rated the Italcementi bond Ba2 with a "negative" outlook. For 2013, Moody's expects Italcementi to face challenging market conditions in its key markets Egypt and France and, to a lesser extent, in Mor...

Torah Cement inaugurates environmental projects, Egypt

14 February 2013, Published under Cement News

Egypt’s Minister of Environment Khaled Fahmy inaugurated on Tuesday environmental initiatives by Torah Cement. The cement producer has invested US$24m to replace electrostatic filters with fabric ones, according to reports by AllAfrica press. The project will reduce pollution from the factory based in Helwan.

Egypt: signs of stability despite political unrest

11 February 2013, Published under Cement News

Despite recent news reports of political tension in Egypt, there are some positive signs in the country's cement market that demand is recovering after two difficult years. The latest figures indicate that last year cement demand expanded by around five per cent, just surpassing the 51Mt mark, a growth rate not seen since 2009. In 2011, consumption fell 1.7 per cent to 48.69Mt while prices contracted 10 per cent.   During these the past two years, the entry of new companies has provided new ...

Egypt's cement sector faces decline in natural gas supply

30 January 2013, Published under Cement News

In a filing sent to the Egyptian Exchange, Suez Cement reported that Egypt's cement sector is facing a decline in natural gas supply below normal levels. Nevertheless, it said this has not affected the deliveries at its plants because of the group's strategic inventory of clinker. The Ministry of Trade and Industry announced on 20 January 2013 said that it would hike prices of heavy  fuel oil (HFO), for the cement and ceramics industries by 50 per cent to US$225/t from US$150/t. This come...

Egypt: National Cement denies production stoppage due to high energy prices

10 January 2013, Published under Cement News

National Cement  denied news claiming that company"s operations will be halted due to higher gas and mazout prices. The company added, in a release responding to Egyptian Stock Exchange inquiries that, this news is totally untrue. The company pointed out that, it is studying means of using alternative fuel in production.

Egyptian government to raise mazout fuel prices for cement companies

17 December 2012, Published under Cement News

The Egyptian government is to raise fuel prices for cement companies that use mazout for production by 130 per cent, according to local press. The price hike means that per-tonne mazut prices will rise from EGP1000 (US$162) to EGP2300 (US$373), state reports by Ahram Online. Mazout, the raw material from which diesel is derived, will be sold at the new price to all of Egypt's industrial sectors with the exception of electricity production companies and food industries and bakeries, due ...

Beni Suef resumes production, Egypt

12 December 2012, Published under Cement News

Egyptian cement producer Beni Suef Cement Co has restarted operations as natural gas supplies have resumed. On 6 December it was reported that the company had to suspend operations at four plants for the second time in the last two months due to natural gas shortages. The company had put in requests to President Mohammed Morsy to end the gas shortages and noted that it was unable to import additional supplies due to the lack of strong logistical infrastructure needed to transport energy f...

Egypt: energy shortage stops cement factories

06 December 2012, Published under Cement News

A shortage of natural gas caused four plants belonging to Misr Beni Suef Cement Company to suspend operations for the second time in the last two months. The stoppage has uncured losses of EGP100m and threatens the redundancy of 7000 workers at the factories that produce up to 40,000tpd of cement. “The company has put in a request to President Mohammed Morsy to end the gas shortages, however it has not received a response,” said Farouk Mustafa, Misr Beni Suef Cement Company's managing dire...