Cement News tagged under: Egypt
Sinai Cement returns 9M profit12 November 2024, Published under Cement NewsEgypt-based Sinai Cement Co , part of Vicat Group , reported net sales of EGP4.44bn (USS$90.19m) in the January-September 2024 period from EGP3.225bn in the year-ago period. Stand-alone net profit after tax saw considerable improvement, increasing to EGP2.607bn in the 9M24 from EGP108.872m in the 9M23. Consolidated profit attributed to the parent company reached EGP2.748bn in the 9M24 from a net loss of EGP121.45m in the 9M23. |
Egypt: a game of controlling variables11 November 2024, Published under Cement NewsThe Egyptian cement industry has seen challenging times recently, but a more positive outlook is emerging on the back of mega-projects and improving export potential. By Abdelkhalek Mohammed, Equity strategist, Egypt Egypt’s cement industry has faced difficult economic conditions, oversupply and a price war, but the way forward suggests it is time for cautious optimism (© TITAN) T he Egyptian economy has seen some headwinds in the past few years. After four devaluations i... |
ASEC wins Wadi El Nile Co contract renewal05 November 2024, Published under Cement NewsAs part of the fruitful and ongoing cooperation between the two companies in recent years, Wadi El Nile Cement Company has renewed its confidence in collaborating with the Arab Swiss Engineering Company (ASEC) by extending the contract between the two companies, originally signed in 2021, for an additional period. The contract renewal signing ceremony was attended by Ashraf El-Kahky, chairman and managing director of ASEC, along with several directors and managers from both companies. AS... |
Arabian Cement introduces hydrogen fuel at Ain Sokhna16 October 2024, Published under Cement NewsArabian Cement Co (ACC), a leading cement producer in Egypt, has embraced UTIS hydrogen technology in alignment with its decarbonisation plan. ACC has implemented UC3 ® technology at its Ain Sokhna plant in Egypt. This cutting-edge solution aims to significantly reduce CO 2 emissions, positioning ACC at the forefront of sustainability in the cement industry. It also complies with the most stringent international standards, as CBAM - Carbon Border Adjustment Mechanism demands. “UC3 ®... |
Misr Cement Group & Canal Sugar Canal Sugar form strategic partnership03 October 2024, Published under Cement NewsA significant strategic partnership between Misr Cement Group and Canal Sugar is set to transform agricultural and industrial waste into eco-friendly alternative fuel. This agreement reflects both companies' shared commitment to sustainable development, waste reduction and advancing the circular economy in Egypt. By converting waste into alternative fuel, Misr Cement Group & Canal Sugar are not only lowering operational costs but also reducing carbon emissions and environmental impact.... |
Heavy fuel oil to be supplied to Egyptian cement factories01 October 2024, Published under Cement NewsEgypt's Ministry of Petroleum and Mineral Resources will provide heavy fuel oil to cement factories through a centralised distribution system starting today, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Kamel El Wazir, announced. The move comes in response to demands from the Cement Division of the Building Materials Industry Chamber, which called for sufficient heavy fuel oil supplies to ensure factories can operate at full capacity, reports Za... |
Egypt’s cement consumption expected to fall to 45Mt in 202409 September 2024, Published under Cement NewsCement consumption in Egypt is expected to decline to 45Mt this year, compared to 47Mt in 2023, according to Ahmed Shireen, head of the Federation of Egyptian Industries' (FEI) cement division. In relation to this, multiple local contracting firms have temporarily suspended projects over the last two weeks. This suspension comes as a result of a decline in cement supply to their respective sites, according to official representatives from the firms. The officials attributed the cement sho... |
Egyptian cement producers request 10% cut in production capacity22 August 2024, Published under Cement NewsSeveral 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 supp... |
Cement prices in Egypt up 20% in August21 August 2024, Published under Cement NewsCement prices in Egypt have increased by 20 per cent since the 1 August after cement producers reduced their production, said Ahmed El-Zeini, head of building materials at the Federation of Egyptian Chambers of Commerce. The price increase ranges between EGP200-500/t with the final price for end consumers reaching approximately EGP3000/t. Mr El-Zeini said that cement plants have been informing their agents of price hikes every week since the beginning of the month. |
Cementir acquires additional 25.4% stake in Sinai White Portland Cement13 August 2024, Published under Cement NewsCementir Holding NV announced that its fully-owned subsidiary Aalborg Portland Holding A/S has acquired an additional 25.4 per cent stake in Sinai White Portland Cement Co SAE (SWCC) from Sinai Cement Co, part of the Vicat Group . Following the EUR30m transaction, Cementir will indirectly hold 96.5 per cent of SWCC’s share capital. The investment strengthens Cementir’s strategic presence in Egypt’s white cement business. Located in the Sinai Peninsula, SWCC’s plant with a white ce... |