Suez Cement Delays Investments Worth EGP1.5 Bln On Egypt Instability

Awaiting Egypt to restore its political stability and to solve fuel supplies deficit, Suez Cement Co. (SUCE.CA) announced that it will postpone its proposed strategic scheme for production capacity increase in the Group’s plants up to 2 million tons.

Bruno Carré, Managing Director of Suez Cement group of Companies (SCGC), stated that the postponement decision comes due to the current turbulence and the multiple challenges which face the cement industry in Egypt, notably the fuel supplies shortage.

Carré further noted that Suez Cement is allocating around EGP 1.5 billion to implement its own scheme for adding new production lines. However, the current situation would not encourage the Group to move towards carrying out such strategies.

Suez Cement is still looking for immediate quick solutions to face the current challenges face the cement industry, Carré said.

He referred to the importance of finding alternative fuel supplies contributing to restore the production rates to the normal levels in the cement industry.