Egypt: South Valley denounces new capacity project

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 in the following areas: Menia, Kena, Sowag, Aswan, New Valley, Suez, Marsa Matrouh and South Sinai. The announcement was made by the Industrial Development Authority (IDA) of the Ministry of Industry and Foreign Trade in local newspaper Al-Ahram.