November 1, 2021

South Valley Cement unveils impacts of repricing gas on production cost


ArabFinance: South Valley Cement (SVCE) announced that the cost of production is expected to increase by 30% to 50% due to the Cabinet’s decision of repricing natural gas to industries, according to a statement filed to the Egyptian Exchange (EGX).

It is worth noting that the Egyptian Cabinet has raised the price of natural gas for industries, including iron and steel, cement, fertilizers, and petrochemicals, by 27.8% to $5.75 per million British thermal unit (mmBTU), instead of $4.50 per mmBTU.

South Valley Cement is an Egypt-based company engaged in the manufacture of cement and its associated products, as well as a range of building materials products.

The company’s product portfolio consists of three main categories: clinker, portland ordinary cement, and ready-mix concrete.

arabfinance


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