INTERCEM Rallied Top-Notch Cement Pioneers Discussing the Present & Forecasting the Future of Cement Industry in Egypt

14.07.2020

July 7 – Cairo Talaat: “Bridging the gap between consumption & production, the sector awaits further State’s initiatives to stimulate demand on cement & related products, in the light of the State’s recently allocated EGP 400 Billion to boost the construction sector throughout the FY 2020/2021.”

 

 

Solomon Aviles: “Lafarge Egypt focuses on sustainable development, we have diligently set up a roadmap to eliminate CO2 emission by 2050, recover waste by 10 folds, reduce plastic waste leakage in Egypt, and prevent the usage of freshwater along with investing graciously in the lives of thousands through impactful CSR initiatives.”

Adeeb: “For the sector dynamics to improve, the government shall intervene to encourage demand on cement products on the short term, sector consolidation shall take place on the medium term, while healthy demand growth together with higher utilization rates shall be witnessed on the long term.”

 

Egypt has virtually witnessed today INTERCEM webinar titled: “Recent Developments and the Future Outlook for the Cement Industry in Egypt”. The online panel discussion was moderated by Mr. Malcolm Shelbourne, Chief Executive – INTERCEM, hosting prominent figures & decision makers from the Egyptian Cement industry including; Mr Solomon Baumgartner Aviles, CEO of Lafarge Egypt, Eng./ Tarek Talaat, Managing Director, Misr Cement Co. (Qena), together with Mr. Mark Adeeb, Senior Associate at Pharos Holding for Financial Investments.

INTERCEM 2020 demonstrated where the Egyptian cement industry was before Coronavirus crisis, the impact of the pandemic and the wider economic scenario for the country to move forward. The virtual conference highlighted as well some of the cement sector endeavors made over recent years towards maintaining a cleaner and more sustainable industry in Egypt.

Eng./ Tarek Talaat, Managing Director of Misr Cement Co. (Qena) inaugurated the webinar by showcasing Egypt’s cement production capacity, mega players, demand & supply along with challenges encountered in the past few years. He stated: “Since 2016 and up till this very moment with Coronavirus pandemic overshadowing the cement sector, a drastic retreat has been witnessed in demand with surplus of production. Despite the sincere endeavors paid by the government to reduce natural gas & electricity tariffs, the impact has been slightly and momentarily touched by the industry. Bridging the gap between consumption & production, the sector awaits further State’s initiatives to stimulate demand on cement & related products.” Talaat concluded his talk by forecasting a thrive for the Ready-mix business in the upcoming period as a result of the State’s recent endeavor in allocating EGP 400 Billion for construction sector in 2020/2021.

Mr Solomon Baumgartner Aviles, CEO of Lafarge Egypt discussed : “The vitality of Managing  coronavirus outbreak while looking forward to more sustainable development, he expressed how Lafarge Egypt strived to create shared values with society through focusing on 4 pillars; Climate & Energy, Circular Economy, Environment & Community.” He furtherly elaborated: “Shedding light on Climate & Energy, Lafarge Egypt has diligently set up a roadmap to reduce & eliminate CO2 emission by 2050. Tackling Circular Economy, the company is to recover waste by 10 folds more than generated. Preserving Environment, Lafarge Egypt has strategically partnered with the German Development Cooperation (GIZ) to reduce plastic waste leakage in Egypt while preventing the usage of freshwater. As for the Community, Lafarge has devoted its potentials to be a valued member in the society, graciously investing in the lives of thousands through its impactful CSR initiatives that cover education, healthcare, business opportunities, volunteering, stakeholder engagement along with human rights.”

Mr. Mark Adeeb, Senior Associate at Pharos Holding for Financial Investments concluded the virtual meeting by exhibiting how harshly the cement industry is suffering & was affected by the lockdown amid Coronavirus pandemic. Adeeb noted: “With the cement sector’s dynamics remaining exceptionally challenging, the government initiatives in reducing energy tariffs are being swallowed by low profitability. Yet, for the sector dynamics to improve, the government should intervene to encourage demand on cement products on the short term, sector consolidation will eventually take place on the medium term, while healthy demand growth together with higher utilization rates shall be witnessed on the long term.”

Since 1985, INTERCEM conference has provided attendees with all the latest cement news with analysis on market development, production, trading, transportation and handling of cement and related products along with comments and insights from the industry’s world leading figures.