South Valley Cement spent EGP 160.3 mn on second production line license

South Valley Cement spent EGP 160.3 mn to obtain a manufacturing license for its second production line, which it was awarded in an auction last year, the company said in an EGX filing. The company also completed two cement millsand plans to begin trial operations before year-end. We had noted earlier this week that Saudi Arabian investors Abdulrahman Sharbatly and Fahd El Shobokshy were planning to invest USD 150 mn in the production line.