Greek Titan Group, plans to invest $63.5 million in the next two years to expand production capacity and increase the proportion of alternative fuels used to reduce costs. Amr Reda, the company's chief executive, revealed the investment plan.
Titan Egypt has two cement plants in Egypt's Beni Suef and Alexandria provinces, with a total current capacity of 4.5 million tons per year. After the completion of the planned expansion, the annual production capacity will be increased to 5.5 million tons. Currently, the company exports 30% of its total production. In 2024, its export volume is 550,000 tons, aiming to reach 850,000 tons by the end of 2025 and further increase to 1 million tons in 2026. Its main export markets include Libya, Syria, Europe, the United States, West Africa, and reconstruction projects in Gaza and Sudan.
The company entered the Egyptian market as a foreign direct investment in the late 1990s and is a cement and building materials enterprise operating in more than 25 countries around the world. At present, Titan Egypt has a market share of about 6% in Egypt. In terms of sustainable
development, the company is committed to improving the quality of alternative fuels, aiming to make them account for 40% of total fuel consumption, and plans to increase this proportion to 70% by 2030. At the same time, the company is strengthening its recycling business in Beni Suef province and plans to build a 10 MW renewable energy power station at the plant. In addition, they plan to expand in the Eastern Province.
New investments also include developing strong domestic and export logistics distribution networks, increasing grinding and production capacity, and reducing carbon emissions through the promotion of low-carbon products. The company also hopes to expand the green building field, but this requires the government to make some adjustments to the existing relevant regulations.
Regarding Egypt's domestic market dynamics, Amr Reda noted that some six production lines that had been shut down earlier have resumed operations under the decision of Minister of Industry and Transport Kamel Al-Wazir, which brought about an additional capacity of about 7.5 million tons.
In response to the cabinet's proposal for two new cement production licenses, each with a capacity of 2 million tons, Reda said it would conduct an in-depth study and prepare a feasibility report to comprehensively assess the existing capacity, total consumption and export opportunities in the local market. In particular,
he stressed that Egypt's domestic cement consumption has reached 52 million tons this year, compared with 47 million tons last year. It is essential to thoroughly research all market factors before considering bidding for a new production license.
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