Suez Cement Company profits reach EP 130 million in first half of 2000
The Suez Cement Company posted EP 130 million profits during the first half of 2000, reported Al-Sharq Al-Awsat. In addition, the company generated EP 100 million revenues last June from selling its 52,000 share holdings in the Egyptian Cement Company. These stocks, equivalent to eight percent of the total capital in the Egyptian Cement Company, were sold for EP 170 million. Originally, the Suez Cement Company acquired these shares for EP 70 million.
In the report in Al-Sharq Al-Awsat, the Chairman of the Suez Cement Company, Mahmoud Desouki, was said to have announced that his company had expanded the production capacity of its first production line by 300,000 tons, reaching 1.03 million tons per annum. The capacity of its second production line, installed last year, amounts to 1.04 million tons, thus, bringing the total capacity of this company to 2.07 million tons annually.
The Suez Cement Company owns 66 percent of the Turah Portland Cement Company, which manufactures 3.06 million tons of cement per annum.