Egypt’s cement consumption expected to decline to 45M tons in 2024
Updated 9/8/2024 8:27:00 AM
Arab Finance: Egypt’s consumption of cement could shrink to 45 million tons this year, compared to 47 million tons in 2023, Ahmed Shireen, head of the cement division at the Federation of Egyptian Industries (FEI), told Asharq Business.
Additionally, the country could export 15 million tons of cement abroad this year, Shireen noted.
He added that the local cement factories could produce as much as 92 million tons of cement annually.
On a related note, a number of local contracting firms have temporarily suspended operations on certain projects over the past two weeks as a result of a substantial decline in cement supplies to their respective project sites, eight officials from private firms told Asharq Business.
The officials ascribed the cement shortage to the decrease in the number of trucks available to transport cement from plants to project sites, in addition to exporting cement, particularly to Libya and other neighboring countries.
This led to a shortage of transport trucks, as they took a long time to return to Egypt, the officials pointed out.
On August 20th, it was reported that Egypt’s cement prices rose by 20% since August 1st after cement producers cut their production.
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