Vicat Group to inject $34mln into Egypt’s cement sector

Vicat Group to inject $34mln into Egypt’s cement sector

These investments will cover the market’s demand for cement, says company official

Vicat Group, the main developer and partner of Sinai Cement, is planning to invest EUR 30 million (EGP 615 million) in the Egyptian market over the coming period, Vicat Egypt’s CEO said.

These investments will cover the market’s demand for cement, Tamer Magdy added during a celebration at the French embassy in Giza.

For his part, the chairman of France’s Vicat said that the company will continue investing in Sinai despite the current situation.

The Egyptian economy has the potential to recover as it is moving forward on the back of the country’s policies, Guy Sidos stressed.

Source: zaway