Suez Cement will seek to increase its energy intake and its production capacity by 15%, Bruno Carrè, the company’s Managing Director in Egypt, said during the Milan Expo 2015.
Carrè added the company will not file a request to obtain a new cement licence, however.
The company has used EGP 300,000 to promote its section at the expo using the new cements products the mother company produced.
In March, Carrè told Daily News Egypt the cement company will convert two new facilities to coal in 2015, adding to two facilities converted in 2014.
“We are investing some EGP 400m per year for four years,” Carrè said. “We have done one and we converted two plants and we have another two plants to complete.”
At the Economic Summit that same month, Carlo Pesenti, the CEO of Suez Cement’s mother company Italcementi, said the company is currently focusing on energy source diversification at its Egyptian facilities.
On whether or not the company will pump new investments into Egypt, Pesenti said the company “has capacity [to increase the volume of investments]”.
Regarding its current Egyptian investments, Pesenti said the “company is investing some €150m to build a wind farm that will be deployed in the next 24 months”.
On 26 March, the company donated EGP 30m to the Long Live Egypt fund. A check worth EGP 10m was given to Prime Minister Ibrahim Mehleb. The remaining EGP 20m will be given over the next two years, with EGP 10m each year.