China’s government offers to overhaul two of Egypt’s cement plants for EGP2 billion
The National Cement Company (NCC) received an offer from state-owned Aviation Industry Corporation of China (AVIC) to overhaul and refurbish two of its cement factories for EGP2 billion, according to NCC head Saeed Abo El Moty. He further added that AVIC offered to provide credit facilities for 85% of the project, conditional on sourcing equipment from China or Germany. On another note, NCC has submitted a request to the Ministry of State for Environmental Affairs to allow the company to use coal instead of gas due to the higher energy bill that the company is facing. (Al Masry Alyoum)
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