New cement licences minimum bidding price is between EGP120-150mn
The Industrial Development Authority (IDA) has set the minimum bidding price for the new cement licences’ auctions, which are scheduled to take place in October 2016, between EGP120-150mn. The cabinet set the price according to the average bids at the auction for cement licences that took place in 2007. Six companies, including El Sewedy Cement, Jushi Egypt, South Valley Cement, Misr Beni Suef Cement and Royal El Minya for Cement applied for eight of the new 14 licences on offer. (Al Borsa)
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