{"id":566665,"date":"2021-07-06T14:13:28","date_gmt":"2021-07-06T14:13:28","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/cement-industry-is-finally-getting-a-lifeline\/"},"modified":"2021-07-06T14:13:28","modified_gmt":"2021-07-06T14:13:28","slug":"cement-industry-is-finally-getting-a-lifeline","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/cement-industry-is-finally-getting-a-lifeline\/","title":{"rendered":"Cement industry is finally getting a lifeline"},"content":{"rendered":"

<\/a> Is <\/strong>the government finally stepping in to rescue the cement industry?<\/strong> Cement producers were given the greenlight to cut production by at least 10% by the Egyptian Competition Authority (ECA), according to documents seen by Reuters<\/a>. The new quotas, which will take effect on 15 July and extend for one year, set a 10.69% baseline cut. They also give additional room for cuts of 2.81% per production line and more for older factories, the newswire noted. The proposal had reportedly been submitted by 23 industry players to reduce the supply glut that is crippling their business. Reuters first reported<\/a> in May that the government was working on a plan to save the industry based on recommendations from cement companies.<\/p>\n

These are actually caps on domestic sales, industry leaders tell us: <\/strong>While Reuters is suggesting that the decision slashes production, Suez Cement\u2019s CEO Jose Maria Magrina told us that these are, in effect, caps on how much an individual cement maker can sell on the local market. This would help smaller manufacturers, who will get a higher ceiling, to stay afloat, and prevent larger players from getting huge cost advantages, Magrina said.<\/p>\n

Cement players are happy:<\/strong> \u201cIt is a step in the right direction. The government has shown foresight, because supply is [currently] much more than demand,\u201d says Magrina. Medhat Stefanos, who heads the Federation of Egyptian Industries\u2019 cement division, tells us that industry overwhelmingly welcomes the news.<\/p>\n

Magrina, however, noted that there\u2019s still room for additional cuts. <\/strong>He also noted that the Industrial Development Authority worked with the ECA on the decree.<\/p>\n

Producers have yet to be officially notified of the new quotas as of dispatch time, <\/strong>Stepfanos tells us. A press conference to announce more details on the rules is expected to take place 24 hours after the FEI gets a formal notice, Stefanos added.<\/p>\n

Cement has been flooding the market for years:<\/strong> Sales are less than half of the sector\u2019s annual capacity, which has surged to 85-87 mn tonnes in the past three years, and actual production well exceeds consumption. Making matters worse was the new military-owned Beni Suef plant that came online a couple of years ago, which added another 13 mn tonnes of cement to the market every year. Cement factories have lost bns in recent years due to oversupply, one industry insider recently told us.<\/p>\n

Demand fell further last year:<\/strong> Annual sales declined to 41.7 mn tonnes last year from 43.8 mn in 2019, on account of the lockdown.<\/p>\n

Want to know more about the struggling cement industry, and whether production cuts are the solution? <\/strong>We\u2019ve got you covered with a recent Hardhat feature<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Is the government finally stepping in to rescue the cement industry? Cement producers were given the greenlight to cut production by at least 10% by the Egyptian Competition Authority (ECA), according to documents seen by Reuters. The new quotas, which will take effect on 15 July and extend for one year, set a 10.69% baseline […]<\/p>\n","protected":false},"author":1,"featured_media":566666,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10135],"tags":[1002,549,633,622,4231,1784],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-566665","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-basic-materials","tag-cement","tag-egyptian-competition-authority","tag-enterprisepm","tag-national-security","tag-speed-round-basic-materials","tag-suez-cement","wpautop","entry"],"acf":{"mongo_id":"9d280cef-6284-40c5-853b-a30bfae11f73","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/7\/336.jpg","photo_position":"above","related_issue":[566661],"teaser":"","voice_url":""},"yoast_head":"\nCement industry is finally getting a lifeline - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/07\/06\/cement-industry-is-finally-getting-a-lifeline\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cement industry is finally getting a lifeline\" \/>\n<meta property=\"og:description\" content=\"Is the government finally stepping in to rescue the cement industry? 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Ahmed El Zeini, head of the building materials division at\u2026","rel":"","context":"In "Basic materials"","block_context":{"text":"Basic materials","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/basic-materials\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/310.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548306,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/cement-producers-welcome-another-year-of-production-quotas-and-a-slow-ramp-up-of-market-supply\/","url_meta":{"origin":566665,"position":2},"title":"Cement producers welcome another year of production quotas \u2014 and a slow ramp up of market supply","author":"enterpriseam admin","date":"3 August 2022","format":false,"excerpt":"Cement production quotas are sticking around for another year: The Egyptian Competition Authority (ECA) has heeded cement companies\u2019 calls to leave cement production curbs in place for another year \u2014 but will allow output to rise as demand picks up, Ahmed Shireen Korayem, head of the cement division at the\u2026","rel":"","context":"In "Industry"","block_context":{"text":"Industry","link":"https:\/\/enterpriseam.com\/egypt\/category\/industry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/8\/124.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572039,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/09\/five-cement-factories-could-close-this-year-as-covid-19-compounds-sectors-woes\/","url_meta":{"origin":566665,"position":3},"title":"Five cement factories could close this year as covid-19 compounds sector\u2019s woes","author":"enterpriseam admin","date":"9 June 2020","format":false,"excerpt":"Four or five of Egypt\u2019s two dozen cement factories could be forced to close in the coming months, as the covid-19 pandemic batters an industry already suffering from a supply glut, officials and analysts told Reuters. The economic fallout from the crisis may be the final nail in the coffin\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/97.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555674,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/23\/slightly-less-cement-oversupply\/","url_meta":{"origin":566665,"position":4},"title":"Slightly less cement oversupply","author":"enterpriseam admin","date":"23 November 2021","format":false,"excerpt":"Local cement production is on course to easily outstrip demand in 2021 despite production cuts being introduced in July to ease the years-long supply glut. But Lafarge Egypt says there are signs market demand is starting to recover, with CEO Solomon Baumgartner-Aviles now projecting a 7% rise in sales this\u2026","rel":"","context":"In "Basic materials"","block_context":{"text":"Basic materials","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/basic-materials\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/558.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":631655,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/25\/competition-authority-report-vindicates-cement-producers-says-price-hikes-were-justified-consumer-protection-boss-still-demanding-crackdown\/","url_meta":{"origin":566665,"position":5},"title":"Competition authority report vindicates cement producers, says price hikes were justified; consumer protection boss still demanding crackdown","author":"enterpriseam admin","date":"25 March 2018","format":false,"excerpt":"Competition authority vindicates cement producers in initial findings from market review: The Egyptian Competition Authority (ECA) has cleared cement producers of accusations of unjustified price increases leveled against them last week by Consumer Protection Authority (CPA) boss Atef Yakoub. In its preliminary findings from its 2013-17 survey of the industry,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566665","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=566665"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/566665\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/566661"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/566666"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=566665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=566665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=566665"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=566665"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=566665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}