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News Vicat confirms interest in Egyptian cement market

Vicat confirms interest in Egyptian cement market

Written by Global Cement staff 15 July 2021
  • Print

Egypt: Tamer Magdy, the country manager for Sinai Cement, says that parent company Vicat is keen to continuing to invest in the local market. He noted that noted that the France-based building materials producer is a long-term investor with confidence in the Egyptian economy and that it has no plans to leave, according to the Daily News Egypt newspaper.

He praised the government’s decision in early July 2021 to introduce reduced cement production quotas. The group is also keen for the authorities to develop the Sinai region more, where its main market is based. Vicat has operated in Egypt since 2003 when it acquired Sinai Cement. However, Magdy also called on the government to provide subsidies for exports.

Last modified on 21 July 2021
Published in Global Cement News
Tagged under
  • Egypt
  • VICAT
  • Government
  • Sinai Cement
  • lobbying
  • quota
  • GCW515

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