Sad to read on CemNet Newsroom on 7th March that Egyptian cement producer Alexandria Cement reported a consolidated net losses of EGP513.85m (US$29.13m), when compared with net losses of EGP50.86m in 2016.
It is now almost 10 years since Whitehopleman was retained by potential Saudi Arabian investors to conduct due diligence on the Alexandria and Beni Suef cement plants of Titan Egypt. The investment fell through due to market turmoil following the financial crisis. That was followed by the Arab Spring and the revolution in Egypt. Perhaps Titan are wishing the investment had completed?