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.

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