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Article: CEMENT SELL OFFS STIFFEN ECONOMY.(the Egyptian cement industry)(Brief Article)
- Article from:
- The Middle East
- Article date:
- July 1, 2000
- Author:
CopyrightCOPYRIGHT 2000 IC Publications Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tom Owen reports from Cairo
The business of making cement is not a glamorous one in anyone's book, lacking the instant appeal of fashion or the Internet. Yet in Egypt's liberalising economy, the cement industry has become a politically sensitive issue, and a barometer of foreign investor opinion in the country
The Egyptian government's privatisation programme has on the whole been notable for the small stakes offered in decent companies, and occasionally limited foreign-investor interest in some of those companies. In the cement sector, by contrast, healthy controlling stakes of over 70 per cent have until recently been offered in state cement ...