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Ceramic & Porcelain's production costs decrease by EGP 18M resulting from gas repricing

Ceramic & Porcelain's production costs decrease by EGP 18M resulting from gas repricing

ArabFinance:  Ceramic & Porcelain (PRCL) said that the cabinet's resolution no. 2363 for 2019, regarding the impact of natural gas re-pricing on its product, would decrease the annual of ceramic production costs by EGP 17.869 million. The million British Thermal Unit (BTU) of gas has been declined from $7 to $5.5. 

It is worth mentioning that the company consumes 141,818 BTU, according to available data on Oct. 12, 2019.

The Egyptian Cabinet approved the recommendations of the Ministerial Committee to re-price natural gas for some industries on September 30, 2019, according to the Cabinet’s Facebook page.

The natural gas price for the cement industry becomes $6 per million British Thermal Unit (BTU), up from $4 per million BTU, and $5.5 per million BTU, down from $7 per million BTU, for the iron and steel, aluminum, copper, ceramics, and porcelain industries.

Read More: Listed firms unveil gas re-pricing on their performance 

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