Kyzylkumcement sees net profit rise 71%

Uzbekistan’s Kyzylkumcement saw a net profit of US$20.3m in January-June 2020, rising 70.9 per cent YoY. Revenue also advanced 12.4 per cent to US$97.1m.

In the 1H20 the plant increased cement production by three per cent YoY to 1.75Mt, which amounted to 32.2 per cent of the total cement production in the country.

Kyzylkumcement is also intending to build its fourth line for the production of clinker by the end of 2020, with the project valued at US$112.63m. The project will be financed by US$92.22m from the company's own funds and a loan from Hamkorbank.