New cement factory licenses in Egypt are being postponed by the North African country’s General Authority for Industrial Development (GAID). The move is said to be due to a rise in the untapped potential of existing plants and the recession in domestic and global markets.
GAID president Ismail Gaber said the authority will re-examine the cement consumption market in the country as well as future needs. GAID was planning to issue between 12 and 14 licenses for cement factories in the current fiscal year, with each factory to produce 1.5 million tonnes/year.
