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Cement factories turn to foreign markets, exports rise 135%

After the crisis of the accumulation of cement supply in the markets, the factories tended to promote their production abroad, which was reflected in the Egyptian exports of cement during the first 4 months of 2021, which recorded a 135% increase to $98 million compared to only $42 million.

Libya topped the countries receiving Egyptian cement with $21.9 million compared to $11.3 million, Kenya $15.5 million compared to $6.5 million, an increase of 136 percent, Uganda received $9.1 million compared to $2.3 million, and Sudan received $12.2 million compared to $3.5 million.

The Industrial Development Authority suggested that cement companies reduce their production by 10% with the increase in supply in the market, as the cement production capacity increased to between 85 and 87 million tons annually over the past three years.

The proportion of foreign investments in Egypt for the cement industry is estimated at 52% of the total production capacity, and the number of direct employment is 50 thousand people, and indirect workers are 200 thousand people. The investments of the cement industry in Egypt are estimated at 250 billion pounds, according to Medhat Estefinos, head of the cement division.