Huge capacity increases in the next three years coupled with lower demand in Europe means the Egyptian cement industry will have to find new export markets, the director of Egypt’s Hegazy & Company Khaled Hegazy told MEED’s Middle East Cement & Concrete 2008 Conference in Dubai on 29 October.
“We shall have about 10 million tonnes of new capacity by 2011,” said Hegazy.
“We had hoped that Europe, particularly Russia, would be major export markets but this is not likely to be the case because of the economic slowdown.”
Hegazy said he expects Egyptian cement consumption to rise 37.1 million tonnes in 2008 from 34 millon tonnes in 2007.
Capacity in 2008 rose to 38.5 million tonnes from 38 million tonnes in 2007, he added.
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