Seven companies apply for new cement licenses

Seven companies have filed papers to acquire cement production licenses from the Industrial Development Authority (IDA), said IDA head Ahmed Abdel Razek, according to Al Mal. Abdel Razek did not reveal the names of the companies. The IDA tendered 14 cement licenses at the end of 2016, but only awarded three (to Egyptian Cement, South Valley Cement, and El Sewedy Cement), and opened tenders for the remaining 11 in January. Aswan Cement had announced last month its intention to apply for a license in a bid to boost its production capacity, while industry players said there is a glut in the market.