Cement News tagged under: Egypt
ACC announces new solar project for Egyptian plant17 January 2019, Published under Cement NewsArabian Cement Co (ACC), in collaboration with Solarize Egypt, has announced a new solar energy project at its Suez plant. The EGP90m (US$5.02m) plans will be financed through the Qatar National Bank, while the European Bank for Reconstruction and Development will provide a grant and technical support. According to Sergio Alcantarilla, CEO of ACC, the project will enter operation in the 2Q19. The plant will be the only one in the country to use solar energy as part of its energy mix. "Ou... |
HeidelbergCement updates on portfolio optimisation15 January 2019, Published under Cement NewsHeidelbergCement has reported that it closed the divestment of its 50 per cent share in Ciment Québec and its minority participation in Syria in December 2018. In addition, a former cement plant area in the Cairo metropolitan area, Egypt, has been auctioned and the divestment of its Ukrainian business has been signed. The closure of both the latter transactions is expected to occur in 2019. These divestments have a total value exceeding EUR150m and is expected to have a slightly positive e... |
No reprieve for National Cement Company14 December 2018, Published under Cement NewsHisham Tawfik, Egypt's Minister of Public Business Sector, confirmed that the state-run National Cement Company (NCC) of Egypt will be shut down. NCC had closed after the public business sector ministry confirmed the difficulty of reforming the company's financial condition as it required investments of EGP1.5bn (US$873.5m). The cement producer's workers have been compensated with 180 per cent of their legal rights, added Mr Tawfik. |
ACC to restructure existing debt05 December 2018, Published under Cement NewsEgypt’s Arabian Cement Co plans to restructure its existing US$23m and EGP499.3m outstanding debts due to one of the country’s banks, through a syndicated loan from the European Bank for Reconstruction and Development (EBRD) and the Commercial International Bank of Egypt (CIB). The package will support the company’s long-term strategy to improve the energy efficiency and cost-effectiveness of its operations, according to a press release. As the new debt level is more comfortable, it is exp... |
ASEC extends O&M contract at Al-Minya Cement to 202112 November 2018, Published under Cement NewsASEC, the leading cement operator in Africa and the Middle East, announced today the renewal of its technical management agreement with Al-Minya Cement Company for a new term until 2021. The state of-the-art plant, located in Upper Egypt, has an installed clinker capacity of 1.95Mta. Since the commencement of operation in 2013, ASEC has been entrusted with the full technical management of the plant including plant management, operation, maintenance and optimisation. It is worth noting that ... |
Egypt's National Cement Co to be liquidated15 October 2018, Published under Cement NewsThe Egyptian government has decided to liquidate National Cement Co due to continued financial losses and debt accumulation, according to Ahramonline. Total accumulated financial obligations had reached over EGP4bn (US$223m), including EGP3.3bn owed to Egyptian Natural Gas Holding Co and EGP600m to the Egyptian Electricity Co. Established in 1956, the company was the only public sector cement producer. Its general assembly agreed during a meeting last week on the liquidation and proced... |
HeidelbergCement02 October 2018, Published under Cement NewsHeidelbergCement subsidiary Suez Cement Co, which came with the purchase of Italcementi, has agreed in principle to sell the El Minya white cement works to Emaar Industries Company. The El Minya works was completed in 1991 and has a capacity of 1Mta and is located in the Cairo area, to the north of the city. It is held through Helwan Cement Co, which first has to split out its white cement operations. That procedure is likely to take some months. Emaar Industries is controlled by the D... |
FEI: Egypt faces oversupply20 September 2018, Published under Cement NewsCement demand declined in 1H18 to 25Mt, compared with 26Mt in 1H17, according to Noha Bakr, the head of the cement committee of the Federation of Egyptian Industries (FEI). In 2017 domestic consumption decreased 4.5 per cent YoY despite ongoing mega projects, Mr Bakr said. He added that the main challenge for the industry remains oversupply as stockpiles rose by 2.3Mt in 1H18 to 7.1Mt. |
New owners for El Minya Cement17 September 2018, Published under Cement NewsThis week CemNet reported that Helwan Cement's 1Mta white cement plant in Egypt's Minya governate is being sold to Emaar Industries Co of UAE, subject to regulatory approval. The transaction will take place following the demerger of the plant from Helwan Cement, which also operates 4.1.Mta of grey cement capacity. Entered into production in 1991, the plant produces two types of white cement – CEM I 52.5 and CEM II B-L 42.5N. Dubai-based Emaar Industries & Investments will be new to the E... |
New owners for El Minya white cement14 September 2018, Published under Cement NewsThis week CemNet reported that Helwan Cement's 1Mta white cement plant in Egypt's Minya governate is being sold to Emaar Industries Co of UAE, subject to regulatory approval. The transaction will take place following the demerger of the plant from Helwan Cement, which also operates 4.1.Mta of grey cement capacity. Entered into production in 1991, the plant produces two types of white cement – CEM I 52.5 and CEM II B-L 42.5N. Dubai-based Emaar Industries & Investments will be new to the E... |