Arabian Cement Co. signs pet coke deal with Egyptian Refining Co.

CAIRO – 31 July 2019: Arabian Cement Company (ACC) announced signing an agreement with the Egyptian Refining Company, stipulating to supply local petroleum coke (pet coke) with an annual volume tons as of July 2019.

“This agreement aligns with Arabian Cement Company’s efforts to reduce production costs, highlight our leading market position in implementing projects and signing agreements with key industry partners, and improving the operational performance of the company by diversifying energy sources,” CEO of Arabian Cement Company Sergio Alcantarilla said.

The company clarified that petcoke is a solid nonvolatile residue which is obtained as the final still product in the distillation of crude petroleum and whose purity makes it desirable for metallurgical processes, for carbon electrodes, and as a fuel.

ACC recorded profits of LE 5.97 million during the first quarter of 2019, compared to LE 162.01 million in the same period of prior year. As for standalone results, the company hit profits of LE 4.23 million in the first three months of 2019, compared to LE 160.95 million in the same quarter of 2018.

Arabian Cement Company is listed on Egyptian Exchange (EGX) since March 2014. It operates within the materials sector focusing on Construction Materials. It has subsidiaries operating across Egypt, working on Trading Companies and Distributors, Coal and Consumable Fuels and Construction Materials.