ICEC

China’s Sinoma signs $19.5m contract with Egypt’s South Valley Cement

Egypt-based South Valley Cement Co. (SVCE) has signed an EPC contract with Chinese firm Sinoma CDI, to allow its plant to use coke, with a grinding capacity of 50 tonnes per hour.

Under the $19.5 million contract, the Chinese firm will also supply spare parts for two years, the company said in a bourse statement.

It added that the deal will be financed through a loan from the Commercial International Bank – Egypt (CIB).

The coke production line will come on stream within 15 months from the contract’s singing date, which will help reduce production costs.

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