ASEC Increases its Capital by 324.5 Million LE

ASEC had decided to increase its capital by 324.5 million LE to reach 1.18 billion LE. This arragement will help to decrease the depts of the company and accordingly decrease the budget deficit of 2005 by 70 million LE.

One of the most important factors for the development of the company is the important increase in the export prices for cement. The current FOB cost of cement is around USD 37 per ton icompared to USD 20 per ton in 2004.