Egypt’s competition authority approves cement output cut extension till July 2023

Egypt’s competition authority (ECA) has approved a request by 23 cement makers to extend cement production cuts for one additional year until July 31, 2023, senior industry sources told Amwal Al Ghad on Monday.

Last year, the ECA heeded the request of 23 cement companies to slash production by more than 10 percent. The regulation came into effect mid-July last year, and had a one-year expiration date. It was implemented to revive an ailing industry that had been struggling for years from a supply satiation, driving many cement companies to halt their operations and rendered others on the brink of closure.