Misr Cement Group announced the self-operation and maintenance of Misr Cement Qena plant, starting July 1st 2022, aiming to maximise performance efficiency, reduce operating costs, double asset utilization, and exploit the ability to meet current challenges.
Misr Cement Group is a prominent four-subsidiary companies group, including Misr Cement Qena, listed on the Egyptian Stock Exchange.
The Board approved this step upon ending the technical management agreement with the Arab Swiss Engineering Company (ASEC) in June 2022, according to a proposal submitted by the executive management.
This comes in line with company’s strategic goals of growth for leadership and building internal capabilities, as the group managed to fully self-operate its factories, thus making the best use of the accumulated internal expertise of the Group and its subsidiaries companies.
“Through its new identity, Misr Cement Group has expanded its operations with cost-efficiency, as we are always keen to apply best practices to meet the needs of our customers and the cement sector in Egypt,” Chairman of Misr Cement Group, Abd Al-Fattah Harhour stated.
Harhour added “Self-operating our plants reflects two key aspects: the scalable efforts to promote our new identity and implement our strategic objectives, and our gratitude of the effective role of our employees and their relentless pursuit of development, adding to the core value of the Group.”
In the same context, the managing director Tarek Talaat expressed his delight with such a milestone, adding: “July 1st, 2022 marks a momentous in the history of Misr Cement Group as we will start in coordination with the technical management team of the plant with the support of the various departments of the group.”
The Group has been keen to develop not only at the level of delivering high-quality cement products, but also at the operational level, Talaat said.
On the other hand, the group’s source pride is benefiting the market and maintaining its leadership in the sector.
Talaat added “we always commit to being a part of the Egyptian government’s efforts to support the industry sector and the localization of industries.”
Misr Cement Group began self-operating and maintaining Minya’s plant November last year, when the technical management team has succeeded in operating the plant at a very high-performance level.
Therefore, it reflected in the total operating cost, competitiveness, and the profitability of the Group.