Cement News tagged: Corporate
Bamburi Cement completes construction of grinding plant
Kenya’s Bamburi Cement has announced that construction of its 0.9Mta grinding plant at Athi River, south of Nairobi, has been completed. The facility represents a KES4bn (US$39.62m) investment and is part of the company’s expansion plan launched in 2015. "The contractor is on schedule and will soon be handing the project over to the company for full operation," said Seddiq Hassani, CEO, Bamb...
UltraTech commissions second grinding unit in Dhar
India’s UltraTech Cement has commissioned its second 1.75Mta grinding facility at Dhar, Madhya Pradesh, with the first entering operation in April 2018. The new plant increases the company’s total manufacturing capacity to 92.5Mta and with further ongoing expansion projects this is expected to rise to 96.5Mta in the future.
Sephaku Cement reports 25% fall in net profits
Sephaku Cement (Dangote group) reported a 35 per cent slump in net profit to ZAR44m (US$31.7m) on a one per cent decline in revenue to ZAR831m for the year to end-March. "We experienced a challenging operating year as competition in the ready-mix concrete segment intensified characterised by lower volumes and marginal improvement in pricing," Sephaku CEO, Lelau Mohuba, said in the results sta...
Nigeria's CCNN and Kalambaina Cement to merge
The Board of Directors of Nigeria’s Cement Co of Northern Nigeria (CCNN) and owners of the 0.5Mta Sokoto cement plant have announced that it has informed the Nigerian Stock Exchange of its proposed merger with BUA-owned Kalambaina Cement Co Ltd, owned and operators of the 1.5Mta Kalambaina plant in Sokoto state, Nigeria. CCNN's Managing Director, Ibrahim Aminu, said the proposed merger would...
Pioneer Cement raises grinding capacity
Pioneer Cement, located at Khushab, in Punjab province has increased its cement grinding capacity to 0.8Mta. Company Secretary, Waqar Naeem, notified the stock exchange on Wednesday that Pioneer Cement had raised its grinding capacity to 345tph. According to Sherman Securities' Research Analyst Saqib Hussain, the capacity increase of 0.8Mta will help the company improve its revenue and profi...
Fauji Cement appoints new Company Secretary
Fauji Cement Company Ltd (FCCL) informed Pakistan Stock Exchange (PSX) that it has appointed Brig Riaz Ahmed Gondal as Company Secretary with effect from 27 June 2018, in place of Brig Ch Zafar Iqbal (Retd). The company plant is located at Fateh Jang in Punjab, Pakistan. The clinker capacity stands at 3.27Mt while cement capacity is at 3.433Mt.
Cementir sets out plans in the run-up to 2020
In the company's 2018-20 business plan, Francesco Caltagirone Jr, chairman and CEO of Cementir, vowed to generate more value for shareholders, presenting his vision for the next two years. Cementir's revenue is expected to grow by 5.5 per cent between 2017 and 2020, with a target set at EUR1.34bn in 2020. EBITDA is expected to rise by 6.6 per cent to EUR270m from EUR223m in 2017. To improve...
RHI Magnesita undertakes major investment in China
Refractory specialist RHI Magnesita will invest EUR20m in its dolomite plant in Chizhou, Anhui province in China. The step is part of a decisive response to address global pressures in the supply of raw materials to the refractory industry and rapidly provide additional volumes to its worldwide customers, said the company in a statement. The Chizhou site includes an extensive dolomite mi...
Lucky receives power plant financing
Lucky Cement has received financing approval for its power plant at Deh Ghangiaro, Bin Qasim, Karachi. Lucky Electrical Power Co Ltd, a subsidiary of Lucky Cement, applied for the finance to build a 660MW supercritical coal-based power project to supply power to the national grid. The project cost is estimated at US$885m, financed through a debt-to-equity ratio of 75:25. Commercial operatio...
China Shanshui Cement Group posts CNY14.92bn turnover
China Shanshui Cement Group has posted a turnover of CNY14.92bn for FY17. The figure represents a 32.2 per cent advance when compared with FY16, when the company’s turnover reached CNY11.28bn. Attributable profit for the period reached CNY767.9m, from a loss CNY738.3m in FY16.
New kiln line at Burglengenfeld plant online
After two years of intense work, first clinker was received on schedule at HeidelbergCement’s Burglengenfeld cement works in Germany in April 2018. IKN was awarded a contract for engineering, supply and installation to upgrade the pyroprocessing line to 4000tpd – from raw meal feeding to clinker discharge. The contract included integration engineering, supply and installation of add-on comp...
Huaxin Cement Narayani to build US$140m plant
Nepal’s Investment Board (IBN) has signed a project investment agreement with Huaxin Cement Narayani to establish a US$140m cement plant in Nepal. Following the deal signed by IBN’s CEO, Maha Prasad Adkhikari, and Xu Gang, vice-president of Huaxin Cement Co, in the presence of Prime Minister, KP Sharma Oli, the joint venture company will build a 3000tpd cement works in Dhading, Nepal. The a...
Taiheiyo to increase Philippine capacity
Taiheiyo has allocated PHP3.5bn for a new cement line in San Fernando, Cebu. At present the works produces 7350tpd and the project aims to raise output potential to 16,350tpd by the end of next year. Romeo Gebilaguin, Taiheiyo's environment and safety manager, said that as demand for cement grows, the plant has to double its production capacity. "We will be needing additional manpower by th...
Republic Cement contracts Aboitiz Construction for Bulacan and Cebu
CRH subsidiary, Republic Cement and Building Materials, has called in local affiliate Aboitiz Construction to help realise its projects in Bulacan and Cebu, Philippines. Under the contract, Aboitiz Construction will have to complete within 11 months the structural and mechanical works in the Bulacan and Cebu sites. The cement producer is also looking into improving cement and clinker cap...
Eagle Cement sees PHP350m in savings
Eagle Cement Corp expects to generate some PHP530m in savings from the three-year income tax holiday granted by the government for the company’s recently-completed third production line in Bulacan. The savings will be generated over a three-year period between 2018-20. "That doesn't count yet other incentives that we get in terms of tax savings from the importation of certain equipment, bri...
Shivam Cement first cement producer to IPO in Nepal
Shivam Cement Ltd is set to issue 5,280,000 units in an initial public offering (IPO) at premium prices after the company received approval from the Securities Board of Nepal (Sebon). It is the first cement producer that is issuing primary shares for the general public. Shivam Cement will issue 880,000 units, or two per cent of the company’s share capital, at the rate of NPR300 (US$2.75)/un...