( 4minutes read)
· The Arabian Cement Company is targeting 3.94 million tonnes in local market sales by the end of 2020, equaling the value achieved in 2019, despite the pandemic
· The Arabian Cement Company achieved total sales of 4.33 million tonnes over the past 12 months. Of this 3.94 million tonnes were sold in the domestic market, and 392 million tonnes were exported to overseas markets
The Arabian Cement Company is targeting 3.94 million tonnes in local market sales by the end of 2020, equaling the value achieved in 2019, despite the pandemic. According to the company’s CEO, Sergio Alcantarilla, Egypt’s cement sector has faced several problems during the current period, causing several hindrances to its businesses.
The Arabian Cement Company achieved total sales of 4.33 million tonnes over the past 12 months. Of this 3.94 million tonnes were sold in the domestic market, and 392 million tonnes were exported to overseas markets. However, he opined that it was difficult to predict its exports until the end of the year. The company only sold 2.56 million tonnes during the period from January to August, and exported 215,000 tonnes. This compares to a total of 2.51 million tonnes sold during the same period last year. Of that, a total of 283,000 tonnes were exported.
The company deferred investments worth US$15m, during the current year since the investment sentiments were low. The company announced a total investment of US$ 300 million. He also revealed that local cement manufacturers met with Prime Minister Mostafa Madbouly and Minister of Trade and Industry Nevine Gamea in June, to raise a series of demands relating to the country’s cement production capacities. Alcantarilla said that the demand for the company’s products increased by 4% during the first quarter (Q1) of the year, then decreased by 11% during Q2, and is expected to decrease to 15% during Q3.
