Aswan Cement is planning to venture into the ready-mix concrete market to diversify its business amid saturation in the cement market, company sources said. The company will begin in September building 10 batch plants at an initial investment of EGP 200 mn. It is in talks with EU-based equipment suppliers and the Arab Organization for Industrialization for the project. Industry experts have been warning that the cement market was in oversupply, having produced some 18 mn tonnes more than the local market wanted to buy in 2016.

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