South Valley Cement to complete $192mn new production line in 2017

Egypt-based South Valley Cement Company (SVCE) plans to complete a new production line by 2017 with investments worth 1.5 billion Egyptian pounds (US$191.6 million), general manager Ahmed Ibrahim said Thursday.

Speaking to Amwal Al Ghad, Ibrahim asserted that the new line will be with capacity of 1.5 million tonnes annually.

SVCE has obtained the approval from the Industrial Development Authority (IDA) to establish the new line and started the construction works on it in July this year, the official stated.

IDA is planning to grant new 16 licences for cement sector within the upcoming period with total investments exceeding 15 billion Egyptian pounds after getting the official approval from the Cabinet.