Ssangyong Cement to increase energy-efficiency of Donghae plant

South Korea’s Ssangyong Cement Industry Co has announced plans to increase the energy-efficiency of its Donghae plant. The project includes the installation of a waste heat power generator with an energy storage system, which is expected to be operational by August.

The company expects the waste heat power generator to help the facility save approximately 33 per cent of electricity, amounting to KRW25.7bn (US$24m), reports the Maeil Business Newspaper.

Ssangyong Cement has announced a 61.9 per cent YoY fall in its 1Q18 consolidated operating profit to KRW19.7bn, with sales down 31.6 per cent to KRW304.2bn. However, its performance is expected to improve from the 3Q18 as demand is forecast to increase when inter-Korean economic projects begin, according to a report by Korea Investment & Securities Co.