Cement News tagged under: South Valley Cement

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South Valley Cement losses increase sharply

31 December 2019, Published under Cement News

South Valley Cement Company, Egypt, posted a 930 per cent year-on-year increase in losses during the first nine months of 2019, according to the company’s financial statements. The cement producer’s losses amounted to EGP173.9m (US$10.83m) in the January-September period, compared to EGP16.8m in the same period in 2018, according to a statement to the Egyptian Exchange. During the same period, the company’s sales fell by almost half to EGP345.26m from EGP656.3m in the same period in 2018.

South Valley Cement posts loss in 1Q19

04 July 2019, Published under Cement News

Following reports that its total profit fell 54 per cent in 2018 , Egypt-based South Valley Cement has announced that it made a loss in the first three months of 2019. The company has recorded a net loss of EGP38.45m (US$2.3m) in the 1Q19, compared to a net profit of EGP5.9m in the corresponding period of 2018.

Egypt: South Valley denounces new capacity project

17 January 2017, Published under Cement News

Three private companies are reported to have gained licences for new plants in Egypt after the latest round of bidding, according to local newspapers in Egypt. The new capacity was reportedly for Elsewedy Cement, Elmasreein Cement and South Valley Cement. However, South Valley Cement has categorically denied the announcement in a statement to the EGX, stating that the claim is totally untrue.   Furthermore, the government has made available several further 2Mta cement plant licences...

Egypt: South Valley Cement discusses new Beni Suef line

05 December 2016, Published under Cement News

Ahmed El-Mekati, board member of South Valley Cement Company (SVCC), has said the company is looking into the investment cost of a new 1.5Mta production line, as the cost of importing the production line’s components has increased with the EGP’s flotation. SVCC is due to hold a meeting this month to discuss the launch of the new line and study available financing options. It is compare the value of borrowing from banks and increasing its capital in the stock market. The new line would ...

Egyptian government announces award of three new plant licences

01 December 2016, Published under Cement News

The Egyptian Industrial Development Authority has today announced that three firms have been successful in their bids to build new cement plants, local media reports. The licences, which will permit the construction of new integrated works with between 1.5 and 2.0Mta capacity, were awarded to El Sewedy Cement, South Valley Cement and a third firm, identified in the article as Egyptian Cement. El Sewedy, which currently has around 2.3Mta of cement capacity, will be permitted to build a ...

Egypt: South Valley profits up 33%

24 August 2016, Published under Cement News

South Valley Cement announced a net profit increase of 33 per cent for the 1Q16. A net profit of EGP42.85m (US$4.82m) was registered in the quarter compared to EGP32.35m for the same quarter in the previous year. Revenues for the company reached EGP254.82m (US$28.7m) in 1Q16, a YoY increase of 14.3 per cent compared to EGP223m for 1Q15.

Sinoma signs contract with Egypt's South Valley Cement

01 February 2016, Published under Cement News

Egypt-based South Valley Cement Co has signed an EPC contract for a grinding unit with Chinese firm Sinoma CDI, to enable its plant to use petcoke, with a grinding capacity of 50tph. Under the US$19.5m contract, the Chinese firm will also supply spare parts for two years, the company said in a bourse statement.

South Valley Cement 1H net profit reaches EGP64.9m

25 September 2014, Published under Cement News

Egyptian cement producer South Valley Cement Co said yesterday its first-half net profit increased to EGP64.9m (US$9.07m). In the comparative period of the previous year, the company’s net profit stood at EGP 57.8m.

South Valley seeks alternative energy sources

13 May 2014, Published under Cement News

Egypt-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...

Egypt: South Valley to invest in expansion, coal usage

20 March 2014, Published under Cement News

South Valley Cement is due to sign a contract for a five-year long-term loan agreement worth EGP1.2bn (US$172.4m) from the Arab African Bank to increase production capacity and utilise coal. Ahmed El Miqaty, member of the board of directors, revealed that the company will spend EGP600m on expanding its factory and investing in new technology to increase capacity, according to AlMal Newspaper. The rest of the loan will be used to buy equipment to grind and ignite coal, for which the company...