Suez Cement Working to Limit Impact of Egypt's Dollar Shortage
- Company is committed to Egypt's operations: managing director
- Restricting foreign exchange outflows is a top priority
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Suez Cement, a unit of Italy’s Italcimenti SpA, is working to minimize the impact of Egypt’s dollar shortage on its operations and has no plans to “withdraw” from the country, Managing Director Bruno Carre said.
“We are doing what we can to finance our operations locally and to work with local suppliers while getting extended credit facilities from our international suppliers and our group,” Carre told Bloomberg News. “Our key priority is to maintain our operations and to minimize the outflow of dollars to support authorities addressing the foreign-currency shortage.”