Egypt cancels El Wadi Cement licence

Egypt's licensing committee has decided to cancel the production licence for El Wadi Cement over start-up delays, and is reviewing four other licences, the head of the Industrial Development Authority said yesterday.“They decided to cancel the licence because they didn't start for such a long time,” Amr Assal said.Egypt's Minister of Trade and Industry Rashid Mohamed Rashid said in October Egypt would offer five to six new cement licences in the coming few months to meet higher demand. “We need more licencing. We need more cement companies, and in the next few months we will issue some new licences for new companies,” he added.