Arabian Cement, LafargeHolcim plan to up cement exports amid market oversupply
Arabian Cement, LafargeHolcim plan to up cement exports amid market oversupply: Arabian Cement is planning to increase its exports this year to 550k tonnes, from 400k tonnes in 2017, CEO Sergio Alcantarilla tells Al Borsa. The company is eyeing more exports to countries including the US, Kenya, Yemen, and Madagascar, given the Egyptian market’s state of oversupply, Alcantarilla says. Lafarge is also following a similar strategy by focusing on exporting its products to African and Arab countries, Al Borsa reports. The company does not have any current expansion plans since the entry of new players has saturated the domestic cement market, says country CEO Hussein Mansi.
Despite the surplus in local supply, the Industrial Development Authority is still gearing up to re-issue tender for 11 cement licenses, according to the newspaper. The IDA had tendered 14 licenses at the end of 2016, but only awarded three to Egyptian Cement, South Valley Cement, and El Sewedy Cement.