Cement News tagged under: Suez Cement

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Suez Cement hit by Egyptian pound devaluation

13 May 2016, Published under Cement News

In its quarterly earnings statement for 1Q2016, Suez Cement announced that it has seen cement volumes rise 15.6 per cent YoY. However, net profits for the quarter have fallen to just EGP2m (US$0.2m), down from EGP58m a year earlier. Suez’s revenues were 14.5 per cent higher at EGP1606m, but EBITDA was down 12.5 per cent at EGP140m. Cement demand was driven by both infrastructure projects, and small and mid-sized private sector initiatives. Better energy availability allowed the company...

Suez Cement working to limit impact of Egypt's dollar shortage

14 March 2016, Published under Cement News

Suez Cement, a unit of Italy’s Italcementi SpA, is working to minimise the impact of Egypt’s dollar shortage on its operations and has no plans to “withdraw” from the country, Managing Director, Bruno Carre, said. “We are doing what we can to finance our operations locally and to work with local suppliers while getting extended credit facilities from our international suppliers and our group,” Carre told Bloomberg News. “Our key priority is to maintain our operations and to minimise the out...

Suez Cement plans to complete coal conversion project by end-2016, Egypt

08 January 2016, Published under Cement News

Suez Cement, part of the Italcementi group, plans to complete its preparations for coal usage at its plants by late 2016, local press reported, citing chairman Omar Mehanna Wednesday. The conversion process involves an investment of around US$110m. Mr Mehanna further told Amwal Al Ghad business magazine that Suez Cement had completed the conversion for coal usage at two plants out of five during 2015. The company aims to use coal as an alternative energy source for the production of cemen...

Egypt: Suez Cement 2Q net profit drops 57%

22 July 2015, Published under Cement News

Suez Cement posted a second-quarter net profit of EGP60.9m (US$7.8m) on Tuesday, down 57.2 per cent from the EGP142.5m recorded a year earlier. Revenue over the three month period declined by 15 per cent due to lower prices and exports. Suez Cement said it was diversifying its energy sources to mitigate the impact of shortages which "affected negatively the company's profits".

Italcementi

06 January 2015, Published under Cement News

The Italcementi subsidiary Suez Cement is investing EUR68m (US$84m) in 2015 in its Helwan and Tora II works to convert them to burning coal and waste-derived fuels. In addition, towards the end of 2014, Suez Cement completed a US$18m investment in its Katameya cement works, allowing it to burn coal and a range of alternative fuels. In terms of energy use, the works is now burning 85 per cent coal, 10 per cent industrial waste and five per cent other fuel. It has allowed capacity utilisati...

Suez Cement completes coal trials at Katameya plant

29 December 2014, Published under Cement News

Suez Cement has completed the trial period of using coal to run its Katameya factory and it is now the main source of fuel at the Egypt-based factory, chairman Omar Mohanna announced. TheItalcementi group company is currently operating at 80 per cent of it 1.5Mta capacity compared to 50 per cent during times of natural gas supply shortages. Mr Mohanna told AlMal that the energy mix at the Katameya factory consists of coal (85 per cent), industrial waste (10 per cent) and ordinary energ...

Egypt: Italcementi to build wind park

27 November 2014, Published under Cement News

Italcementi SpA has signed a memorandum of understanding (MoU) with the government of Egypt for the construction of a 120MW wind park in the coastal town of El-Zaafarana, where the government has agreed to allocate land. The company will invest some US$200m (EUR160.6m) in the plant, starting construction in the 2Q15, said Omar Mehanna, chairman of Italcementi’s Suez Cement Co, as cited by Ahram Online. Once the wind farm is completed at the end of 2015, Italcementi will consider the constr...

Suez Cement starts trial production using coal at its Kattameya plant

29 October 2014, Published under Cement News

Suez Cement has started trial production using coal at its Kattameya plant in Egypt. Commercial production is scheduled to start next month, its chairman has said. Preparations for coal usage at the company’s Suez plant are expected to be completed before the end of the year, he added.

Egypt: Suez Cement to close Tourah Factory 1

06 October 2014, Published under Cement News

Suez Cement Co has voluntarily agreed to close its Tourah Factory 1 to comply with the local government's policy to reduce the number of facilities that do not meet environmental standards. The Egypt-base producer has instead chosen to invest in excess of EGP500m in environmental mitigation measures at its Tourah Factory 2,  local newspaper Al Mal News said yesterday.

Italcementi

03 October 2014, Published under Cement News

Italcementi's Egyptian subsidiary Suez Cement is expecting to start burning coal at its Katameya (Suez) works this autumn and the use of coal will also be introduced at the Tora and Helwan works within the next two years. The subsidiary Italgen is bringing on-stream 120MW of wind power generated electricity capacity by the end of this year, which should cover some 40 per cent of Suez Cement's electricity requirements. After the completion of a second investment programme, hopefully in 201...