Several Egyptian cement companies have submitted requests to the Egyptian Competition Authority (ECA), seeking renewal of the decision to cut production capacity by 10 per cent for quantities allotted to the local market without exporting, an official at ECA told Asharq Business.
The official noted that they are currently evaluating the submitted requests to ensure they meet the needed requirements.
The market is characterised by overcapacity and cement producers want to restrict supply to raise cement demand. Egypt’s cement prices rose by 20 per cent since 1 August after cement producers cut their production.
