Lafarge’s investments in local market record $3bn

Lafarge Egypt’s total investments in cement local market hit around 25 billion Egyptian pounds (US$3.2 billion) at the end of 2015, CEO Hussein Mansi said Monday.

Speaking to Amwal Al Ghad, the CEO stated that Lafarge Egypt – a leader in building materials- intends to expand in the local market within the upcoming period through pumping new investments worth €15 million into a re-cycling project.

The firm will start pumping those investments within six months after determining the necessary lands for the project in coordination with the government, Mansi stated.

Lafarge Egypt is a Member of world’s biggest cement makerLafarge Holcim Group. It produces cement, concrete, aggregates (sand and gravel) and plasterboard.

CEO Mansi clarified that Lafarge Egypt’s strategy for the upcoming period includes serving the national projects which are currently executed by the government such as the New Administrative Capital project and New Suez Canal projects.

Mansi further added that Lafarge Egypt targets increasing its current market share estimated at 14% within the upcoming period through implementing its expansion plan.

Moreover, the capacity of Lafarge Egypt is estimated at 10 million tonnes annually.