Arabian Cement Company( ARCC.CA) is participating in major government projects, as it is currently supplying cement for the Suez Canal tunnels project and the  Ministry of Housing, Utilities and Urban Communities projects, according to the company’s CEO, Jose Maria. On a different note the company has decided not to apply for any of the newly issued cement licenses; as currently,  the market has no need for  additional capacities, the CEO added. Also cement companies are better off acquiring cement plants rather than establishing new ones; as the CAPEX needed to finance the development of a new cement plant is over USD200 million, which is enough to acquire a controlling stake in one of the cement companies listed on the EGX, especially after the current slump in cement company’s share prices, the CEO added. Thus, Arabian cement’s investment opportunities will  lie in listed cement company’s trading at a discount to fair value. ( Al Borsa)   Arabian Cement (Egypt): EGP7.33 as of 21 March 2016, Rating: Buy, FV: EGP17.25 per share, MCap: USD313 million, ARCC EY / ARCC.CA