Cement industry needs Egyptian Cabinet to intervene, save sector from collapsing: Stephanos

The cement industry is calling for gov’t intervention to save crippled sector, saying it is time for the state to explore “radical” solutions according to Medhat Stephanos head of the Cement Division of the Federation of Egyptian Industries

The call came during a meeting of the Cement Division Stephanos claimed that the sector is facing a 40 mn-tonne shortfall in demand this year.

Demand is likely to come in at around 43 mn tonnes this year, compared to 83 mn tonnes of supply, he said.

This is only a slightly grimmer prospect than the one offered by Arabian Cement earlier this month, which forecast demand to fall to 45 mn tonnes this year from 49 mn tonnes in 2019.