Displaying items by tag: Egypt
Egypt: Misr Cement Qena commenced automated cement production at its Qena cement plant in early July 2022. The automation systems also cover plant maintenance processes. Misr Cement Qena awarded a technical management contract for the plant to Arab Swiss Engineering Company in June 2021.
Misr Cement Qena said "This step came in line with the company’s growth strategy to reduce operating costs and maximise asset utilisation in order to meet current challenges."
Egypt: Qalaa Holdings recorded first-quarter 2022 sales of US$991m, more than double its figure for the first quarter of 2021. Its loss during the quarter was US$30.9m, up by 22% year-on-year from US$25.4m. Its subsidiary ASEC Holding Group increased its sales by 46% year-on-year to US$53m. The cement company attributed the growth to the 'strong performance' of its integrated cement plant in Sudan.
Daily News Egypt has reported that Qalaa Holdings is currently prioritising the on-going restructuring of its debts.
Korra Energi awarded contract to build waste heat recovery unit at Suez Cement’s Helwan plant
29 June 2022Egypt: Korra Energi has been awarded a contract to build a 20MW waste heat recovery (WHR) unit at Suez Cement’s Helwan plant. The WHR unit will serve both of the plant’s two production lines. Korra Energi says it will be the first WHR project for a cement company in the country. Korra Energi is an Egypt-based engineering company and a subsidiary of conglomerate Korra.
Jimmy Khan appointed as head of Lafarge Egypt
15 June 2022Egypt: Lafarge Egypt has appointed Jimmy Khan as its chief executive officer (CEO).
Khan has worked for Holcim, LafargeHolcim and Lafarge for 18 years. Notable positions include becoming Head of Business Processes, Internal Control and Audit - Nigeria in 2013, CEO of LafargeHolcim Mauritius and Seychelles in 2015 and Country CEO of Zambia in 2018. He is a graduate of the Pamplin College of Business at Virginia Tech in the US.
Egypt: Misr Cement Qena's board of directors has voted for the company to continue operating its Qena cement plant after the end of a management contract with Arab Swiss Engineering Company (ASEC) on 30 June 2022.
Misr Cement Qena reported an operating incomeUS$5.69m in the first quarter of 2022, up by 59% year-on-year from US$3.58m in the first quarter of 2021. Its net profit in the quarter rose by 74% to US$2.56m from US$1.47m.
Egypt: South Valley Cement more than tripled its sales year-on-year in the first quarter of 2022, to US$11m from US$3.31m. The company’s net loss during the quarter was US$1.66m, down by 13% year-on-year from US$1.9m in the first quarter of 2021.
Egypt: Misr Beni Suef recorded sales of US$23.5m in the first quarter of 2022, up by 70% year-on-year from US$13.8m in the first quarter of 2021. The producer recorded a net profit of US$2.57m, up by 28% year-on-year from US$2.01m.
Egypt: Arabian Cement more than doubled its consolidated sales year-on-year to US$57.4m in the first quarter of 2022 from US$23.4m in the first quarter of 2021. During the quarter, the producer recorded a profit of US$3.19m, compared to a US$343,000 loss in the corresponding quarter of 2021.
Egypt: Lafarge Egypt has signed a US$93m solar energy deal with Lumika Renewables Egypt, a subsidiary of AP Moller Egypt, to produce 140GWh/yr. The agreement is scheduled to become effective by the first quarter of 2024, according to Mist News. Under the terms of the deal the two companies will build a new 50MW solar power plant. This will be the first such plant operated by Lumika Renewables Egypt in the country. The subsidiary of Holcim says it aims to secure a renewable energy supply for 50% of its Ain Al-Sokhna cement plant's total daily energy consumption.
Egypt: Mondi has acquired the paper bag converting lines from National Bag and Egypt Sack, two subsidiaries of Lafarge Cement Egypt, for an undisclosed sum. The production lines will increase Mondi’s capacity by around 150 – 180m bags/yr and strengthen its position in the Egyptian paper bag market. Local subsidiary Mondi Paper Bags already operates two plants in Egypt and with this acquisition will become a key supplier of paper bags to Lafarge Cement Egypt.
Claudio Fedalto, the chief operating officer of Mondi Paper Bags, said “We are excited to have signed a long-term supply agreement with Lafarge Cement Egypt and to servicing them locally in Egypt. The collaboration will offer Lafarge access to our latest innovations, industry expertise, strong plant network and customer service.”