Vice chairman of the Electro-Mechanical Design Group (EMG), Islam Solaiman, said that the group aims to inaugurate a cement plant worth $300m. The company obtained the cement license prospectus documents and is now conducting preliminary studies.
He told Daily News Egypt that the plant will be in Foukah area in Marsa Matrouh. It will feed the demand for cement in the governorate and will possibly export to Libya and other Arab countries in the future.
EMG is owned by businessperson Mahmoud Soliman, who is a board member in the Federation of Egyptian Industries (FEI) and the former chairperson of the 10th of Ramadan Investor Association. The company produces gasoline pumps, paints, and gas meters, and manufactures plastic and tin containers, alongside some projects in tourism and trade.
The Industrial Development Authority (IDA) has put forward 14 licenses for grey cement last year, to which six companies made their bids to obtain eight licenses. The tender was held in December, and three companies won, including Elsewedy Electric, which won a licence to establish a cement factory in Ain Sokhna. South Valley Cement Company also won a licence in Beni Suef, while El Masryeen Cement won a licence for a plant in Sohag.
Chairperson of the IDA, Ahmed Abdel Razik, announced that the IDA will grant the 11 remaining licences throughout the year.
The remaining cement license will be put forward in several areas, including Marsa Matrouh, South Sinai, Suez, Minya, and Aswan.
Daily News Egypt