ASEC Minya Cement, an affiliate company of ASEC Cement, announced it has started production at its new 2Mta factory in the Minya governorate.
The new factory is located 200km from south Cairo and 50km from North Minya city. Daily News Egypt reported that Giorgio Bodo, CEO of ASEC Cement, expressed his gratitude for the beginning of the new factory’s production despite the political and economic challenges facing Egypt. Mr Bodo said that while security problems and the fuel shortage, in addition to other turmoil, had caused significant obstacles to the inauguration of the project, the company managed to overcome these challenges by implementing an innovative alternative plan.
It is expected that the new factory will be linked to a national electricity network through connection line at Samalote station. However, an extension of the regulatory approval process means that the cement plant will use generators and other temporary measures to meet its electricity needs until the end of this year.
Construction of the project started in December 2010 and was stopped a month later following the 25 January 2011 Revolution. ASEC Cement set about implementing its alternative strategic plan to complete the project and start clinker production in May of this year.
ASEC Cement is the biggest shareholder in ASEC Minya, where it owns 45 per cent of the project while other shareholders are Misr Cement-Qena (13.9 per cent), Hayel Saeed Group( 30.7 per cent), the Danish Institute for development and Flsmidth company (9.2 per cent) and remaining shareholders own 1.2 per cent
This is the second factory to be inaugurated by ASEC in five years and follows the launch of a 1.6Mta plant in Sudan which production started in November 2010.
