07 Jul 2021

The ECA (Egyptian Competition Authority) has decided to implement production quotas for cement producers in response to a request submitted by 23 of those producers. The quotas are temporary, and involve a baseline cut of 10.7%. Further cuts of 2.8% will be added for each production line the producer operates, as well as additional cuts depending on the number of years of operation. The quotas come into effect on 15 July 2021. The goal of the cuts is to address the supply glut which has negatively affected the profitability of cement producers. (Source: Reuters (English), Cement News (English), Global Cement (English), Amwal al-Ghad (English), Arab News (English), al-Maal, Mubasher, al-Youm al-Saabe, al-Shurouk, CNBC Arabia, al-Arabiya)