Is it really the right time to open a USD 1.1 bn cement plant?

New cement plant to open with market already in state of oversupply. The Armed Forces-owned El-Areesh Company for Cement, will inaugurate a USD 1.1 bn cement plant in Beni Suef in the coming few days, officials tell Reuters. The plant, whose Chinese builders say is the biggest plant to be built all at one time, comes at a time when the market in a state of oversupply: Last year, the country had an annual capacity of 79 mn tonnes despite consumption being only 53 mn tonnes, an official at a rival firm, who asked not to be named, said. At least three cement firms reported losses in 3Q2017 and national inventory is now 5 mn tonnes, the official said.