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FINANCIAL NEWS
Egypt starts bidding round for cement licenses
04 May 2010
(MENAFN) Egypt’s Industrial Development Authority opened bidding for two cement production licenses, but the authority will not allow existing cement firms in Egypt to bid in this round, Reuters reported.
The industrial watchdog aims to boost competition and bring down prices by forbidding existing firms to bid.
Head of the authority, Amr Assal, said that the two new licenses will replace ones that had been held by El Wadi Cement and North Sinai Cement but which were cancelled late last year over start-up delays and financing shortfalls. Both firms were awarded their licenses in 2007.
Assal said that the authority aims to create better competition on prices and move away from five or six firms that control the market.
More News
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02 Jul 2025
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12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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