Egypt's largest listed cement maker by market value, Suez Cement, has announced that it made a net loss of 50 million Egyptian pounds (US$6.23 million) in the third quarter compared with a net profit of 52 million pounds in 2014.
The company’s revenue dropped to 1.177 billion pounds in the three months ending September 30 from 1.442 billion.
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Pending final government approval, Suez Cement is reportedly planning a EGP300 million conversion project to switch two of its plants to burn coal instead of natural gas.
