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Article: Egypt bans cement exports as regulator investigates sector.
- Article from:
- Daily News Egypt (Egypt)
- Article date:
- April 13, 2009
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CAIRO: The Ministry of Trade and Industry on Sunday announced it would ban cement exports for four months as competition regulators investigate the sector.
Cement prices have risen in Egypt despite recent attempts to ease them. Explanations, officials and analysts conjecture, could include a relatively lively construction sector, a lack of cheap imports and anti-competitive practices among cement producers and sellers.
"Lately, developers and contractors were rushing to complete their projects to take advantage of lower steel prices, which declined by more than 50 percent since August 2008," said Ismail Sadek, a construction analyst at investment bank ...