Abu Hashima lays foundation stone for new cement plant in Upper Egypt

Egypt’s tycoon Ahmed Abou Hashima has laid the foundation stone of a new cement plant in Sohag, some 471 km (292.6 miles) south of Cairo.

Located in Juhayna city in Sohag, the new plant will be built with investments worth 5 billion Egyptian pounds ($277 million), Egyptian Steel’s sister company Egyptian Cement, which is owned by Abou Hashima, announced in a statement on Saturday.

The cement plant is part of the Egyptian Cement’s plan to set up the biggest complex for building materials industries in the Upper Egypt region.

The complex will comprise six other plants, the first for the production of cement board panels worth 155 million pounds, Abou Hashima said.  The second will be for lime production worth 380 million pounds. The third is designated for the production of bags of cements, with investments worth 100 million pounds.

The fourth will be for ready-mix concrete with investments worth 130 million pounds. As for the fifth and the sixth plants, they will be for concrete block production and rebar manufacturing, with investments worth 75 million pounds and 65 million pounds, respectively, he added.