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Egyptian Competition Authority's approval to cut production saves cement factories: CEMEX Egypt CEMEX has set a global goal to reduce carbon dioxide emissions by 40% per tonne of cement products by 2030
President of CEMEX Egypt and UAE Carlos Gonzalez said that the decision of the Egyptian Competition Authority to reduce the production capacities of cement factories gives a glimmer of hope for the return of balance to the cement market. He also expressed his aspiration for the market to respond to new mechanisms in a way that contributes to the industry evolving after long period of challenges. In 1999, CEMEX Egypt acquired the Assiut Cement Factory and currently owns more than one brand, including Assiut Cement, Ready-Mix Concrete-CEMEX, Urbanisation Solutions, Assiut Cement Hotel, and Assiut Cement Farm. Furthermore, Gonzalez noted that "the company has been working since the beginning of its presence in Egypt to provide its products and services to Egyptian citizens and considers itself a partner in Egypt's development process." For her part, Zeinab Hegazy — the Communication, Public Affairs, and Sustainability Director of CEMEX Egypt — said that the company constantly seeks to contribute to building a better future by providing sustainable products and solutions. Consequently, CEMEX is committed to achieving carbon neutrality and increasing the use of waste as alternative raw materials and fuels in its operations, which coincides with the 2050 National Climate Change Strategy that the Egyptian state is implementing in partnership with the private sector in light of Egypt's readiness to chair the upcoming Conference of Parties on Climate Change (COP 27) in Sharm El-Sheikh this November, Hegazy added. She also pointed out in her statements during the first CEMEX Forum that the company has set a global goal to reduce carbon dioxide emissions by 40% per tonne of cement products by 2030. Moreover, it has set an ambitious goal to provide carbon dioxide-free concrete to all its customers worldwide by 2050. She affirmed that "CEMEX continues to support all efforts to support climate change and achieve sustainable development goals, as the company recently launched Virtua's low carbon and CO2 neutral products, which is a milestone towards turning carbon neutral building into reality. CEMEX was also the first company in Egypt to introduce environmentally friendly pozzolanic cement in 2018." Furthermore, Hegazy elaborated that CEMEX's production of ordinary Portland cement in Egypt does not exceed 4% of its product portfolio, which confirms the company's serious efforts to achieve its environmental goals and commitments.
