Cement News tagged: Corporate
JK Lakshmi to ramp up capacity to 30Mta by 2030
JK Lakshmi Cement has announced plans to invest INR80,000m (US$972m) over a six-year period to increase its cement production capacity to 30Mta. According to Business Line, the investment will be made between 2024 and 2030 to raise capacity primarily through expansions and acquisitions. The company has already begun to acquire land for greenfield opportunities at Nagaur (Rajasthan) in no...
Gas supply for Ecebol Potosí plant ready for transport to site
The Phase II expansion of the Sucre-Potosí Gas Pipeline in Bolivia has been completed and will result in an increase of gas transportation capacity by up to 13.6mft 3 /d, which represents an increase of 32 per cent. This will enable a sufficient supply of gas to the new 1.36Mta cement plant of Empresa Pública Productiva Cementos de Bolivia (Ecebol) in Chiutara, Potosí. “This project has an i...
Adani Group in talks to refinance loan
India's Adani Group is in talks with lenders to refinance up to US$3.8bn of a loan facility taken for its acquisition of Ambuja Cements Ltd last year, according to Bloomberg News. The group is reportedly deciding whether to convert the original loan into debt with a longer maturity period. Although the deal is yet to be finalised, Bloomberg News says the group is expected to conclude t...
Aalborg Portland signs letter of intent on CO2 storage hub
Aalborg Portland and Fidelis New Energy have signed a letter of intent enabling the cement producer to potentially supply more than 400,000t of CO 2 to the Norne Carbon Storage Hub in Aalborg through a direct pipeline connection by 2030. Norne is Denmark's first large-scale facility for handling captured CO 2 in Aalborg and was announced by Fidelis in May this year. "We have been close...
JSW Cement secures SLL funding for capacity expansion
JSW Cement has signed a Sustainability Linked Loan (SLL) agreement with BNP Paribas Singapore for INR4140m (US$50m). According to BusinessLine, the cement producer has raised a total of INR8000m in SLL-based funding in two tranches, the first being through MUFG Bank in October last year. The funding is being used to expand capacity in line with JSW's plans to boost production capacity to 50M...
Chonnaeri Cement makes upgrades
The Chonnaeri Cement Factory in North Korea is enhancing the production processes, according to the resolutions of the 8th Congress of the Workers' Party of Korea (WPK) and the plenary meetings of the Central Committee of the Workers Party of Korea. The factory has expanded its production capacity as scheduled while further strengthening the clinker cooling system in close cooperation wit...
Holcim (Romania) awarded state grant
Holcim is among five companies in Romania which have been awarded state grants for “investments with systemic impact”, according to IntelliNews. The grants are worth a total of RON363m (US$78.92m), of which Holcim has been allocated RON77.8m. The company has not yet revealed what the funds will be used for. Holcim (Romania) SA currently runs three plants in Romania, one grinding and tw...
CRH votes to move to New York Stock Exchange
CRH shareholders have overwhelmingly approved the unanimous recommendation of the Board and management team to transition to a US primary listing on the New York Stock Exchange (NYSE). The group will retain a standard listing on the London Stock Exchange (LSE) and will de-list from Euronext Dublin. The changes are expected to take effect on or around 25 September 2023. “We believe a US p...
Beumer Group acquires the Hendrik Group
Beumer has completed the acquisition of the Hendrik Group, a leading US manufacturer of air-supported belt conveyors. The acquisition will expand the group’s portfolio in the field of bulk material transport. In particular, the handling of alternative fuels and raw materials (AFR) confirms Beumer's commitment towards sustainability. At the same time it is fully complementary to the current te...
InterCement Participacoes defers debenture playments
InterCement Participações SA (ICP) has reached an agreement with its debenture holders regarding the deferral of payments under the series of Brazilian law-governed debentures issued by the company and issued by InterCement Brazil SA (ICB), which allow the company to preserve its liquidity. The ICB holders have agreed to a short-term deferral of both, the principal and interest paymen...
Carbon8 welcomes new chief executive officer
CCUS specialist, Carbon8, has appointed Paul Drennan-Durose as its new chief executive officer, effective immediately. Mr Drennan-Durose succeeds John Pilkington who has become non-executive chairman. Commenting on the news, Mr Pilkington said, “Carbon8’s board and its investors are delighted that Paul is now leading the business. Paul brings to the company a wealth of international board lead...
Ecocem appoints innovation project manager
Ecocem has appointed Jaouad Nadah as its new innovation project manager, responsible for the coordination of Ecocem’s ACT technology. Mr Nadah brings with him over 10 years’ experience in the construction sector, having previously held roles at Eqiom and Holcim , where his focus was on innovation in the low carbon cement market. Commenting on the appointment, Donal O’Riain, founder and g...
Bekabadcement carries out plant modernisation
United Cement Group (UCG) is undergoing a large-scale modernisation of its JSC Bekabadcement plant to transform it into a modern high-tech plant. Since the start of the modernisation, the plant has installed modern Unitherm burners, equipped all heat exchangers with new components from CNBM Beijing Triumph, connected a new fourth-generation cooler KC 4.1-0955 from BTIEC and re-launched...
JK Cement agreement to purchase Toshali Cements
JK Cement has seen its shares rise after agreeing in principle a share purchase agreement for Toshali Cements for INR1570m (US$19m). The Board of Directors in its meeting has accorded in-principle approval to sign/execute a share purchase agreement with the shareholders and also with Toshali Cements Pvt Ltd (Toshali) for the acquisition of 100 per cnet equity shareholding from all the existin...
Abra Holdings offers to raise its controlling stake in Oman Cement
Abra Holdings Ltd (Abra) of Mauritius ( Huaxin Cement Group ) has announced a public offer to acquire an additional 15.42 per cent of the issued share capital of the Oman Cement Co (OCC), a move that would increase the former’s stake in OCC to 75 per cent. The offer opens on 14 June 2023 and closes on 25 June 2023 against an offer price of OMR0.379 (US$0.98) per OCC share. “Abra will c...
DG Khan Cement maintains its progress
Nishat Group -owned DG Khan Cement ( DGKC) is progressing well due to the back-up of dividends from group companies. According to Spectrum Securities Ltd, the portfolio/revenue of DG Khan is promising, given its holding company portfolio with major holdings in banks, textiles, power generation, agriculture, hotels and dairy. However, the company borrowed a massive loan to finance capacity...