Sinai Cement

Sinai Cement is engaged in the manufacture and packing of different types of cement and cement-related products. The Company, through its cement production facility in north Sinai, produces clinker, cement and other related products. During 2010, the Company produced 3,353,000 ton clinker and 3,773,000 ton cement. In February 2011, in the wake of the Egyptian uprising, the natural gas pipeline in Al-Arish (which provides SCEM with its natural gas needs) was bombed. Consequently, the company was forced to replace natural gas with costly mazut.
Financial Performance:
It was established with a paid-in capital of EGP250mn, distributed over 25mn shares at a par value of EGP10/share. Currently, SCEM has a paid-in capital of EGP700mn, distributed over 70mn shares at a par value of EGP10/share. In August 2006, SCEM signed a contract with ASEC, ARASCO and FLSmidth to double its production capacity. It captured 8% local market share in 2010, selling 3,728k tons and 59% export market share, selling 31k tons.