Cement News tagged: Corporate
Cimburkina lays first stone of second Kossodo mill
HeidelbergCement-owned Cimburkina has officially laid the first stone of its second mill at its Kossodo plant in Ouagadougou, Burkina Faso, on 1 February. The 150tph mill will lift capacity at the site to 2Mta and represents an investment of XOF15bn (US$28.5m). The project will also see the construction of a 2000t silo and a new bagging line.
Sharjah Cement FY17 net profit up 2%
Sharjah Cement saw net profit edge up 1.6 per cent to AED65m (US$17.7m) in 2017 from AED64m a year ago, according to Reuters. Revenues of the UAE cement producer rose 6.2 per cent from AED612m in 2016 to AED650m last year.
New Honduras plant for Cementos Argos
Cementos Argos has announced plans to build a new cement plant in Choloma, Honduras. The new grinding centre, with a production capacity of 0.44Mta, is expected to be commissioned by the end of the year. "We chose this location because it is an industrial municipality and that facilitates the arrival of new investments," said Gustavo Uribe, general manager of Argos Honduras. ...
Dewan Cement to sell controlling shares of two plants
Dewan Cement Ltd is reportedly in talks with Karachi-based Mega Conglomerate Ltd to sell its controlling shares in two plants based in Dhabeji, Sindh and Hattar Industrial Estate, Khyber Pakhtunkhwa. The two facilities have a combined capacity of 2.89Mta. BMA Capital has been appointed as the manager of the deal, overseeing the acquisition of 87.5 per cent of total shares from Dewan Cemen...
Confidence Cement plans new Palash plant
Confidence Cement Ltd (CCL) has informed Dhaka Stock Exchange (DSE) on 31 Janusary that its Board of Directors has decided to invest a second cement plant with a capacity of 5000tpd to be named as Confidence Cement Dhaka Ltd and will be located at Palash, Narshingdi, Dhaka. Confidence Cement will have 50 per cent shareholding in Confidence Cement Dhaka Ltd and rest by other investors. T...
UltraTech Cement receives approval for mining project
UltraTech Cement has received approval for its limestone mining project in Bhavnagar, Gujarat. The company plans to invest INR600m (US$9.4m) to mine a 632ha area, with a production capacity of 2.07Mta. The total reserves of the mine are estimated at 63.58Mt and has a life expectancy of 32 years, according to India Info Online. The Environment Ministry has provided conditions to its consent, su...
Anhui Conch seeks finance for Ulyanovsk plant
Anhui Conch Cement Company Ltd requires US$500m from financial institutions to bring its plan for a cement in Russia to fruition, according to Xu Yue, Anhui Conch's minister of equipment. Anhui Conch Cement signed an agreement with Ulyanovsk Oblast Development Group to develop the project together on 19 July 2016 and a joint venture was agreed in December 2016. Anhui Conch concluded that Uly...
InterCement considers listing European and African operations
Brazil-based InterCement Participações SA is considering listing its European and African operations to raise cash and reduce debt, Reuters reported. The company is expected to include in the listing Cimpor Cimentos de Portugal SA and mills in Cape Verde, Mozambique and South Africa, according to sources close to the matter. The transaction has been discussed with investment banks, but ...
National Cement posts net loss in 1HFY18
National Cement has announced that its losses increased during the first half of FY18, ended December 2017. The loss increased by 136.7 per cent, to EGP496m (US$28m) from EGP209 of the year-ago period, according to Egypt Today. The unaudited results also showed a fall in revenue to EGP726m, compared to EGP940m recorded in the 1HFY17. The company also stated that it was expected to record pr...
Dalmia Bharat ready to acquire Kalyanpur Cement
Dalmia Bharat is set to acquire bankrupt Kalyanpur Cement after lenders have approved a debt resolution plan, reports the Economic Times. Dalmia outbid other companies like JSW Cement, JK Lakshmi and Star Cement, in a resolution which may exceed INR3.5bn (US$54.92m). Although the National Company Law Tribunal (NCLT) have not yet approved the acquisition, a decision is expected within the comin...
Gezhouba Group's Shieli plant scheduled for December start-up
China's Gezhouba Group Cement Co Ltd (GGCC) plans to commission its first 1Mta cement plant in Kyzylorda, Kazakhstan, in December. Lee Min, the CEO of GGCC, discussed the construction of the cement plant in Shieli, Kyzylorda, with regional head, Krymbek Kusherbaev, reports Kazinform. Mr Kusherbaev also suggested GGCC to explore the prospects for construction of a second cement plant with...
Ghacem opens new depot
Ghacem Ltd has opened a new depot in Sefwi-Wiawso, Ghana. The company now has six depots, with the latest being part of a scheme to increase cement availability in the Western Region. The depot has a 3000t capacity and will be used to store weekly deliveries for local towns, reports Joy Online. According to Nana Philip Archer, commercial director of Ghacem, the company has also purchased ne...
Orient Cement reports 12% increase in revenue
Orient Cement has seen a 12.1 per cent increase in revenue in the quarter ended December 2017, according to Money Control. The revenue rose to INR5.11bn (US$80.37m) from INR4.56bn seen in the year-ago period. However, the company has reported a net loss of INR177m (US$2.78m) in the 3QFY18, compared to the loss of INR116m in the previous year’s period. EBITDA fell 14.1 per cent YoY to INR391...
Hail Cement sees drop in 2017 profit
Saudi Arabia’s Hail Cement reported a 84.4 per cent YoY fall in its net profit to SAR15.5m from SAR99.7m. Total sales decreased 39.5 per cent from SAR272.1m in 2016 to SAR164.5m in 2017. The company attributed its decrease in net profit to reduced demand, tough competition and falling prices.
Lucky Cement may opt for Pezu expansion
Lucky Cement of Pakistan has announced that in view of the continued delay in expansion plant for north, the company is evaluating for brownfield expansion of 2.3Mta at its existing plant location in Pezu, Lakki Marwat district, in the Khyber Pakhtunkhwa province. The company's 2.3Mta fully-integrated greenfield works in Punjab province is currently awaiting approval from the Punjab gover...
Taiwan Cement plans to increase alternative fuel use
Taiwan Cement Corp has announced plans to work with Beijing Orient Landscape & Environment Co Ltd to develop its involvement in the Chinese waste market, according to the Taipei Times. The company expects to work with waste management service provider Beijing Orient to bid on Chinese projects. Taiwan Cement is creating technologies which will enable it to use tyres, plastics and petrochemica...