Gemma likely to raise production cost by 0.5% on government’s decision
Updated 10/31/2021 4:42:00 PM
ArabFinance: El Ezz Porcelain (Gemma) (ECAP) expected that the prime minister’s decision of raising the natural gas price for industries would partially contribute to the increase of production cost by around 0.5% per square meter, according to a statement filed to the Egyptian Exchange (EGX).
On 29 October 2021, the Egyptian Cabinet decided to raise the natural gas prices to industries to $4.75 per million British thermal units (mmBTU).
Established in 1989, Gemma has become the leading manufacturer of high-end Ceramic and Porcelain tiles in Egypt and the Middle East.
