|
|
Article: Cement sell offs stiffen economy
- Article from:
- Middle East
- Article date:
- July 1, 2000
- Author:
CopyrightCopyright International Communications Jul/Aug 2000. Provided by ProQuest LLC. (Hide copyright information)
|
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 companies. Cement companies account for 14 per cent of active ...