The Ministry of Petroleum and Mineral Resources will provide mazut to cement factories through a centralized distribution system starting Tuesday, October 1st, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport Kamel El Wazir announced.

Egypt’s consumption of cement could shrink to 45 million tons this year, compared to 47 million tons in 2023.

Several Egyptian cement companies have submitted requests to the Egyptian Competition Authority (ECA), seeking renewal of the decision to cut production capacity by 10% for quantities allotted to the local market without exporting.

Egypt’s cement prices have risen by 20% since August 1st after cement producers cut their production.

Cement factories have hiked cement prices by EGP 50 per ton, Head of the Building Materials Division at the Federation of Egyptian Chambers of Commerce Ahmed El-Zeini unveiled.

Egypt's cement exports grew by 22% during the first nine months of 2023, recording $625 million, compared to $512 million during the same period of 2022, according to a recent report by the Export Council for Building Materials, Refractory, and Metallurgy Industries (ECBM).

Egypt's cement exports grew by 33% during the first five months of 2023, recording $380 million, compared to $286 million during the same period of 2022.

It is worth noting that the company recorded a net profit after tax of EGP 169.06 million in 2021.

Egypt's exports of building materials, refractory, and metallurgy industries rose 7% year-on-year (YoY) in the first 11 months of 2022 to $6.37 billion from $5.94 billion, according to a report by the Export Council of Building, Refractory and Metallurgy Industries on January 16th.