The Egyptian Pyramids and the Sphinx
According to Daker Abdellah, a member of the Egyptian Federation of Construction and Building Contractors (EFCBC) , Egyptian cement producers are tacitly controlling cement prices by reducing cement production . It reached a high price of 800 Egyptian pounds per ton (bank counter transaction price on that day: 1 Egyptian pounds = 0.8708 yuan).
At a press conference on Friday, Daker Abdellah pointed out that the price of cement had increased by 50 Egyptian pounds per ton compared with last week, while the actual cost of cement production was expected to be only 280 Egyptian pounds per ton, and the labor wages and profit margins for producing a ton of cement generally did not exceed 400 Egyptian pounds. In the latest round, the price of cement has risen to 700 to 750 Egyptian pounds per ton.
The price of cement in Egypt has risen to EGP 800 per ton, despite the fact that there is a seasonal decline in demand for cement during the winter and a decline in cement production.
He stressed that the annual cement production capacity should generally be 60 million tons, but after the reduction, the current total production capacity is only 50 million tons.
Daker Abdellah called on the Consumer Protection Agency and the Business Secretary to take action to combat the sharp rise in cement prices. At the same time, the cement plant should actively cooperate with the quotation supervision of the Egyptian Federation of Construction and Construction Contractors, and the country should also open the door to the import of all strategic materials, so that the import of cement will no longer be blocked.
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