Sinai White Cement to export from Al-Areish Port
Egypt’s Sinai White Cement Company will commence shipping white cement from Al-Areish Port. The company currently has an annual production capacity of 410,000 tons and anticipates that exports will reach 150,000 tons by 2003, reported Al-Alam Al-Yaum. According to company Chairman Hassan Rateb, Sinai While Cement has already recorded monthly export contracts worth 40,000 tons.
Established in 2001, the company’s main shareholders are Denmark’s Aalborg Portland White, contributing 38 percent of the share capital, and the Industrialization Fund for Developing Countries (IFU), contributing 11 percent. Other major shareholders include local companies and investors such as Arab Swiss Engineering (ASEC) and the Sama Sinai Company. — (menareport.com)
© 2002 Mena Report (www.menareport.com)