Suez Cement Says Production Down 30% On Country’s Fuel Shortage

The production volume of Suez Cement Co. (SUCE.CA), the biggest listed cement producer, dropped  by 30% year-to-date due to the shortage in fuel supply, operations development manger Mohamed Shanan said on Tuesday.

Shanan added that energy stands for 50% of cement production costs in Egypt, noting that a rise in fuel prices will be accordingly met with a rise in cement prices.

Shanan further stated that the volume of exports will be reduced over the coming period.