ASEC to build 3 cement factories of $115M in new Suez Canal axis
The New Suez Canal - YOUM7

CAIRO: ASEC Cement Company is to build three new cement factories in New Suez Canal axis with Saudi-Lebanese investments worth 900 million EGP ($115 million,) on a space of 250,000 meters, Youm7 reported Monday.

General Secretary of the Saudi-Egyptian Business Association (SEBA) Ahmed Darwish told Youm7 that the establishment of the three factories is to be completed by mid-2016.

The three factories include a Gypsum Powder factory and another for Gypsum boards production, according to Darwish.

ASEC operates 10 cement factories in Egypt, which represent about 25 percent of the production capacity of cement in the Egyptian market.

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