Trade Resources Market View Cement Is Most Important for Building Crucial to Egypt's Recovery

Cement Is Most Important for Building Crucial to Egypt's Recovery

The chief executive of Egypt s Suez Cement has said that the country s construction sector needs to pick up if the country s economy is to make a sustained recovery.

Speaking to Egypt s Daily News, managing director Bruno Carre argued that the needs new "fully-authorised projects for infrastructure" to thrive.

He said the sector is currently "not very strong" in Egypt and is heavily dependent on an informal sector which frequently builds illegally without any approval.

"This is not good because it is not sustainable for the long-term," he said.

"Four a country like Egypt, this (construction) represents a main source of growth and employment, so it is very critical that this whole construction market picks up again."

He said that the company, which is part of the Italcementi Group, has "been suffering like most companies" since the revolution which deposed former ruler Hosni Mubarak in 2011, with difficulties relating to labour unrest, product deliveries and energy supply, although he added that these were issues due to the general state of the economy in the country rather than the revolution specifically.

Source: http://www.uaecement.com/newsDetail.aspx?id=896
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Building Crucial to Egypt S Recovery - Cement Chief
Topics: Construction