Lafarge/Titan Co. for Egyptian Investments raised its bid for a 51% maximum stake in Amriyah Cement to US$142 a share from US$119, the Gulf News Daily reports.

According to the Daily, Lafarge/Titan, a specially created joint venture, was bidding for up to 10.2 million shares in Amriyah, or a maximum total bid of US$918 million.

Orascom Construction Industries raised its bid to US$129 a share from US$104.

Ahram Cement is counter-bidding for a 60% stake at US$143 a share.

The recent flurry of cement bids drove Amriyah Cement's share price up by the 5% maximum allowed.

Amriyah Cement has two modern dry- process production lines, with total annual capacity of 2.3 million mt of cement. It boasts the second-highest margins in the Egyptian cement sector, behind the market leader Suez Cement.