Cement News tagged under: Egypt
Egypt's National Cement Co goes into liquidation12 September 2018, Published under Cement NewsEgypt's Ministry of Public Sector has announced that the National Cement Co (NCC) has fallen into liquidation. NCC's kiln lines had been shutdown since 31 May 2018. Minister Hisham Tawfik announced that the company had lost EGP900bn (US$50bn) in the past year. The factory is also heavily in debt, owing EGP4.4bn to the Egyptian Natural Gas Holding Co and EGP700m to the Egyptian Electricity Co. In the most recent financial year, the company's losses were the highest among all pu... |
Siemens equips Beni Suef plant11 September 2018, Published under Cement NewsChengdu Design and Research Institute of Building Materials Industry Co Ltd (CDI), the main contractor for the new Beni Suef Cement plant project, in Egypt, selected Siemens to supply integrated industrial systems and gas analysis solution. The EUR1.2bn El Arish cement plant, near Beni Suef, consists of six production lines that can produce 36,000tpd of clinker and 13Mta of cement. Siemens was responsible for supplying the main drive system, consisting of Flender mechanical drives, as well ... |
Cemex supplied 160,000t of cement for Assiut barge project06 September 2018, Published under Cement NewsCemex participated in what its company president has termed an 'exemplary project', the construction of the new Assiut barrage, considered the third largest water project on the Nile River in Egypt. Cemex is the main cement supplier of this project, which is expected to provide irrigation water for 690,000ha, directly benefiting five million agricultural workers. "The new Assiut barrage is an exemplary project for Cemex Egypt. We provided high-quality materials and expertise to ensure tha... |
Sinoma battled desert in fast-build Beni Suef project30 August 2018, Published under Cement NewsThe government-owned Al-Arish Cement plant is located just outside Beni Suef, where six cement production lines now sit side by side id due in large part to the endeavours of China National Materials Group (CNMG - part of Sinoma group) that erected the 6000tpd plant in just two years. "It is the biggest cement plant in the world to be built all at one time and in one place," said Wu Yong project manager at CNMG. "The schedule was really tight for us. "We signed the contract on 1 June 2016... |
President El-Sisi inaugurates Beni Suef cement complex16 August 2018, Published under Cement NewsEgyptian President Abdel-Fatah El-Sisi inaugurated on 15 August the US$1.1bn cement and marble complex in Beni Suef governorate as part of the government’s development drive. The 5km 2 industrial complex consists of three cement plants with a total production capacity of 12Mta and 37,000tpd. The implementation of the megaproject was carried out over 21 months by Armed Forces Engineering Authority (AFEA) and some 20 local and international companies, including China’s CDI. During the... |
Arabian Cement profit soars 197% in 1H1814 August 2018, Published under Cement NewsEgypt's Arabian Cement posted a 196.6 per cent hike in consolidated profits to EGP212.76m (US$11.89m) in 1H18 from EGP71.71m in 1H17, the company said in a filing to the Egyptian Exchange. Revenues advanced to EGP1.64bn at the end of June, compared with EGP1.22bn in 1H17. Standalone profits surged to EGP213.3m in the first half of 2018, up from EGP71.51m in the year-ago period. |
Suez Cement reports net profits of EGP250m in 1H1813 August 2018, Published under Cement NewsSuez Cement reported EGP250.59m (US$14m) in net profits for the six-month period ended June, against a loss of EGP40.61m in the year-ago period, according to a filing to the Egyptian Exchange (EGX). Sales amounted to EGP 3.96bn at the end of June, versus EGP 3.11bn in 1H17. Profits climbed to around EGP 156.62m in 1H18, up from EGP20.81m in the same period a year earlier. Suez Cement previously reported an EGP128.15m in profits for the three-month period ended March, versus EGP41.53m in th... |
National Cement Co makes net loss of EGP744m before tax31 May 2018, Published under Cement NewsNational Cement Co of Egypt recorded a net loss of EGP744m (US$41.5m) before taxes during the first nine months of fiscal year 2017-18, compared to a loss of EGP615.6m in fiscal year 2016-17. The company's financial indicators showed a total loss of EGP486.1m during the same period of the current fiscal year, compared to EGP422.9m in the nine months of the previous year. The company attributed the loss to production difficulties and the poor condition of the kiln. Meanwhile, the A... |
Adverse weather and foreign currency exchange affect Titan's 1Q1824 May 2018, Published under Cement NewsΤitan Group 1Q18 results suffered from adverse weather conditions in the US and southeastern Europe, coupled with the strengthening of the euro against the US dollar and other currencies. Consolidated turnover reached EUR322.5m, recording a EUR39m decline compared to the previous year. EBITDA declined by EUR7.6m reaching EUR43.5m. Net profit after minorities and the provision for taxes was EUR0.9m, versus a EUR3.9m loss recorded in the 1Q17. Wet weather on the eastern coast of the ... |
Cemex helps build new Sinai tunnel connection24 May 2018, Published under Cement NewsThrough a joint venture with Orascom Construction and The Arab Contractors (Osman Ahmed Osman & Co), Cemex is supplying 350,000m 3 of concrete and 160,000t of cement for the construction of two tunnels that extend from the outskirts of the city of Port-Said in northeast Egypt to the Sinai Peninsula, passing under the Suez Canal. The project is part of the Egyptian government's plan for the development of the Sinai Peninsula by improving accessibility. Historically, the only access to Si... |