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FINANCIAL NEWS
Egypt to reissue 2 cement production licenses
15 Apr 2010
(MENAFN) The Egyptian government is set to reissue production licenses to two cement firms that had their permits scrapped, in a move that could help meet demand in a buoyant construction sector, Reuters reported.
The country is also planning to separately issue eight new cement licenses this year, as it aims to boost production capacity to 80 million tons a year by 2015 from 50 million.
However, Egypt might not supply firms granted the new licenses with their energy needs, the trade and industry minister said on Wednesday, potentially raising the cost of investment in the new licenses higher than had been expected.
El Wadi Cement and North Sinai Cement had their licenses cancelled late last year over start-up delays and financing shortfalls, but were granted 60 days to challenge the decision.
More News
17 Sep 2025
BBK and CrediMax launch exclusive offers for customers in collaboration with The Ritz-Carlton, Bahrain
31 Aug 2025
BBK announces an exceptional 6-month grace period financing campaign for Personal and Car Finance customers
13 Aug 2025
BBK’s BD 5,000,000 Al Hayrat scheme awards BD 680,000 to 390 Al Hayrat winners in August and September
04 Aug 2025
HM the King’s Support for Youth is an Inspirational Model for Their Empowerment Journey
28 Jul 2025
BBK discloses its financial results for the half year ended 30th June 2025
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
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