Saad El Din Group has restarted operations at the Spanish Egyptian Cement factory (Spegyco) after a three-year hiatus, the group’s media spokesperson told Enterprise, confirming reports from the local press. The factory had been taken offline due to the crippling supply glut dogging the industry, but production quotas introduced last year to ease the crisis factored into the group’s decision to bring it back online, CEO Mohamed Saad El Din was quoted as saying by Al Borsa. Saad El Din Group now holds an 85% stake in the factory, worth EGP 250 mn, after purchasing 72% from Shoura Group in 2019 and then 13% from an unnamed foreign partner last year.

Other things we’re keeping an eye on this morning:

• US infrastructure giant Bechtel will evaluate one of Egyptalum’s factories for possible rehabilitation (pdf).
• The Transport Ministry will next month sign an agreement with a consortium made up of COSCO, Hutchison Ports, Hapag-Lloyd and CMA CMG to manage and operate the new multi-purpose stations in Dekheila port and Ain Sokhna port.
• Insulation manufacturer ThermoNour will invest EGP 250 mn in a ceramic fiber factory, which it says is the first of its kind in Egypt, in the Ain Sokhna industrial zone.
• Prime Minister Mostafa Madbouly held a meeting to review the final draft of Egypt’s national climate change strategy 2050, which the Environment Ministry launched in November.