Domestic manufacturers welcome increased import costs in Ghana
In Ghana, the Cement Manufacturing Association (GCMA) has praised Ghana Link and Customs for its decision to up the FOB valuation for imported bagged cement from US$25/t to US$60/t. This will help to protect the domestic industry, according to GCMA Chairman Dr George Dawson-Ahmoah. Ghana’s cement industry has sufficient capacity to meet local demand, Dr Dawson-Ahmoah told press, and does not need imported bagged cement.
Sinai Cement reports falling profit in 1H15
Egypt’s Sinai Cement Company reported a decline in total profit in 1H15 to EGP33.54 million, down from EGP88.12 million in 1H14. Net profit was EGP118.9 million down from EGP311.9 million in 1H14. Sinai Cement owns a cement plant in North Sinai and last year contracted FLSmidth to provide equipment to begin using coal to fire the plant. Many Egyptian cement companies have reported operating difficulties due to the high price and low availability of gas, which was traditionally used as fuel in Egypt’s cement industry.
Algerian cement imports fall 4.43%
The cost of imported building materials to Algeria dropped 29.87% in the first seven months of 2015, from US$2.12 billion in the same period of the previous year to US$1.49 billion. The quantity of imports, which include cement, wood, ceramic products, iron and steel, fell 6.79% to 6.19 million t. The value of cement imports fell 13.03% to US$352.93 million and dropped 4.43% in quantity to 3.66 million t. In 2014, Algeria’s total import of building materials amounted to US$3.65 billion, up 6.4% from 2013.
Edited from various sources by Katherine Guenioui
Read the article online at: https://www.worldcement.com/africa-middle-east/02092015/newsbytes-from-across-african-cement-industry-481/