By Ahmed Allam and El-Sayed Solyman

Cairo – Mubasher: The Egyptian Industrial Authority (IDA) has received six applications for eight cement licenses out of fourteen ones, said IDA chairman Ismail El-Nagdy on Tuesday

"The authority was authorized last week to keep issuing new cement licenses. In case of an excessive demand, they will be auctioned", El-Nagdy added.

The average price is set at EGP 150 million per licenses, the chairman revealed on the sidelines of the Euromoney Egypt Conference 2016.

In January, the industry minister Tarek Qabil announced issuing licenses to establish 14 new cement factories in nine governorates to produce 90.4 million tons by 2022.