South Valley Cement eyes to boost cement production volumes to reach 3 million tons within three and a half years, said company’s officials in interview to Mubasher.
The company will add two new cement grinders at a total cost of EGP 1 billion and will pump investments of a round EGP 150 million in the field of Alternative energy , as it believes investments increases come as a consequence of doubling production capacity ,noted officials on the side line of a conference held today.
South Valley strategy targets expansion and increasing production capacity in cement field during the next 5 years, through either increasing production volumes or acquiring stakes in other companies, Ashraf Salman Company’s financial advisor said.
The company said ,earlier this year , it achieved an increase by 9.5% (EGP 47.8 million) in sales during FY13 to EGP 553.1 million, compared with EGP 505.3 million a year earlier.
The cement producer posted EGP 133.474 million net profit for FY13, with 25% growth compared with EGP 106.86 million in FY12.
The company attributed the profit rise to successful marketing campaign for products across the country, which bolstered its client base and brand despite fierce competition with global cement firms operating in Egypt.