South Valley Cement inks $38m contract with China’s Sinoma

Egypt-based South Valley Cement Company (SVCE) has signed a contract with Chinese firm Sinoma CDI, to carry out a new grinding line, vice chairman Hussien Shbakshy said Wednesday.

The 300 million-Egyptian-pound contract (US$38.3million) was signed by SVCE’s Shbakshy.

SVCE has obtained net profit estimated at 32.25 million Egyptian pounds within the first quarter of 2051 versus 31.4 million Egyptian pounds at the same period of 2014.

South Valley Cement’s capital worth 2.4 billion Egyptian pounds, divided on 482.3 million shares traded at EGP5 per share.