Suez Cement (SUCE.CA) is planning to move its Helwan and Torah production lines of wet cement to the company’s headquarters in Suez by the end of this year.
Bruno Carré, Suez Cement Managing Director, said the Group awaits government’s approvals and ratification so as to start and go through moving the two production lines.
“Moving those lines has been among the government’s plans before January 25th Revolution provoked.” Carré added
“Suez Cement seizes 15% of Egypt’s cement production among other firms working in sectors of construction and building materials.”
In overall, the cement firms in Egypt have witnessed recent downwards driven by economic challenges and having 17 rival cement firms.
Carré asserted that it is quite difficult to predict the future of cement industry in Egypt amid the current political circumstances and the dilemma of forming a long-term government .
“Yet the Egyptian market is still one of the prominent markets which enjoys multiple factors to attract investors.”
