The supply glut was exacerbated by the inauguration of the cement plant in Beni Suef in 2018, with a production of 13 million tons per year. Once operating at full capacity, the plant would hold a 26% market share. In 2017, annual production stood at 68.5 million tons compared to a demand of 53.8 million, according to data released by the Cement Industry Division. The supply glut trend seemed to remain in 2018 and 2019 which saw a production of 81.2 and 83 million tons, against a demand of 51 and 49 million, respectively. While official annual divs for 2020 are yet to be available, Solomon Baumgartner Aviles, CEO of Lafarge Egypt, told local press in a recent interview that the cement demand fell by 6.5% Year on Year (YoY) in the ...read more...