Cement News tagged under: Qalaa Holdings

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ASEC Cement starts Zahana exit negotiations

05 September 2018, Published under Cement News

Qalaa Holdings announced that its subsidiary ASEC Cement has commenced negotations to exit Zahana Cement, in which it owns 35 per cent of shares. ASEC Cement has invested US$62m in Zahana Cement, which has a plant located some 40km from Oran, western Algeria. The cement producer upgraded the works to produce 0.75Mta and has been building a new 1.6Mta line, scheduled to come online at the start of 2020.

Qalaa Holdings announces 2Q17 net loss of US$158m

02 October 2017, Published under Cement News

Qalaa Holdings, a leading energy and infrastructure investment company based in Egypt, announced its consolidated financial results for the quarter that ended in 30 June with a net loss worth EGP2.8bn  (US$158m) in 2017, compared to EGP277.5m in 2016. The company announced its revenues reached EGP2.3bn during the second quarter 2Q17, with revenue growth of 25 per cent YoY. Chairperson and Founder of Qalaa Holdings, Ahmed Heikal said, Qalaa achieved a 76 per cent EBITDA growth YoY to reach E...

Qalaa Holdings completes sale of ASEC Ciment Algérie

17 May 2017, Published under Cement News

Qalaa Holdings announced that its subsidiaries ASEC Cement and ASEC Cement Djelfa Offshore have completed the sale of 100 per cent of ASEC Ciment Algérie (ACA) to an Algerian investor at a deal value equivalent to US$60m. The sellers are currently complying with government requirements to repatriate the proceeds from Algeria. 
Qalaa held an effective (indirect) 37 per cent ownership stake in ACA , which has a licence to build a 3Mta cement plant in the city of Djelfa, Algeria. The sale ...

Qalaa Holdings to sell stake in ASEC Algeria Cement

24 October 2016, Published under Cement News

Egypt-based Qalaa Holdings has signed a preliminary agreement to sell its entire 100 per cent stake in ASEC Algeria Cement for some US$60m, according to Reuters.

Egypt sets out on a new course

05 September 2016, Published under Cement News

President Abdel Fattah al-Sisi has managed to return a certain degree of stability to Egypt, with the economy expected to show a gradual recovery. A broad infrastructure programme and robust housing demand is providing the foundation for a strong growth in construction, while the government is calling for the cement industry to increase its capacity. The urgent need to expand Egypt's inrastructure and deal with the considerable housing shortage are expected to drive cement demand f...

Egypt: Qalaa 1Q16 losses

07 July 2016, Published under Cement News

Qalaa Holdings recorded a 1Q16 net loss of EGP242.7m (US$27.3m), greater than the losses of EGP112.2m (US$12.6m) seen in the same period last year, as reported by news organisation Zawya Ltd. Total revenues saw a 20 per cent increase YoY in 1Q16 compared to the adjusted EGP1.44bn reported for 1Q15. Comparative 1Q15 figures have been adjusted to reflect the divestment of ASEC Minya, ASEC Ready Mix, Ashreq, Misr Qena Cement, Rashidi El-Mizan and Tanmeya, eliminating the figures of divested ...

ASEC to sell ASEC Minya Cement, ASEC Ready Mix

02 November 2015, Published under Cement News

Qalaa Holdings announced yesterday that its business unit ASEC Cement has signed a sale and purchase agreement for the sale of its holdings in subsidiaries ASEC Minya Cement and ASEC Ready Mix Co – representing 46.5 and 55 per cent, respectively – to Qena Cement for total consideration of c.EGP1bn (US$124.5m). The financial close is expected to take place on or before 20 November 2015. Qalaa Holdings and its subsidiary National Development and Trading Company (NDT) own 70 per cent of ASEC ...

Egypt: Qena Cement makes offer for larger stakes in Qalaa subsidiaries

06 October 2015, Published under Cement News

Egyptian 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...

Qalaa Holdings first-half revenues up by a third, Egypt

23 September 2015, Published under Cement News

Qalaa 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...

Qalaa Holdings to boost output of Al Takamol plant, Sudan

29 June 2015, Published under Cement News

Egyptian-based Qalaa Holdings is to boost output of the Al Takamol cement plant in Sudan to 800,000t in 2016. Abdalla ElEbiary, MD of Qalaa, said last week that it plans to enhance production by establishing a new coal mine for the plant within the coming year, according to reports by Zawaya news. Al Takamol Cement’s 1.6Mta works at Atbara, 300km north of Khartoum, is a subsidiary of Qalaa Holdings via a 51 per cent holding by ASEC, and with 49 per cent held by the Sudanese National Pen...