Cemex in US$ 100 million Egypt investment
By Sarah Ann McCay04 June 2013
Cemex has announced it is to invest approximately US$ 100 million in improving its operations in Egypt.
The majority of the investment is to be used to increase the capacity to use pet coke, coal and other alternative fuels as energy sources in its Assiut cement plant, helping to eliminate fuel subsidies by 2014.
“Cemex is constantly providing industry-leading building solutions that help improve the well-being of the people of Egypt,” said Sergio Menendez, president of CEMEX in Egypt. “This investment is expected to support the sustainable development of Egypt for many generations”.
Cemex also plans to install new waste co-processing and environmental equipment in the plant to continue reducing its emissions and to increase its alternative fuels usage.
The cement producer also plans to invest in equipment to build and promote the construction of concrete roads. The company is already planning to support four major concrete paving projects in Egypt during 2013. In addition, the operational improvements are expected to further enhance the company’s affordable housing efforts, specifically in Upper Egypt, fostering the creation of new jobs in this region.