The Suez Cement Company (SCC) was first incorporated on March 01, 1977 as a joint stock company. SCC was the first privatized company in Egypt, and controlled 16% of the market in 1999. In January 2000, Suez Cement bought trough a bridge financing of 1.

25 billion pounds, 66.1% of Tora Portland Cement, which allowed it to increase its market share to 30%, and increase its production capacity to 8 million tonnes.In July 2000, Suez Cement sold its stake in ECC, and used the proceeds to repay part of the bridge financing, while the remaining portion was renegotiated with National Bank of Egypt, extending its maturity to 7 years at 12.

5% p.a.Another portion of the debt was repaid in Sep-2000 using Torah's dividends, the remaining debt should amount to 900 million pounds.In Feb 2001, the EGM accepted a capital increase through the incorporation of reserves and the increase of the par value to 10 pounds, which brought the capital up to 539 million pounds.

In May 2001, the EGM decided to increase the capital by 15.78% through the issue of 10.1 million new shares, dedicated to a strategic investor. In September 17, 2001 the EGM approve the selection of Ciments Français as the strategic investor, which was bidding for the 10.

1 million shares in addition to 5.9 million shares, increasing its stake to 25%. The paid up capital would then be 639 million pounds par value 10 pounds.