Cement News tagged under: CAPEX
Votorantim Cimentos reports net revenue of BRL7bn in the 2Q2414 August 2024, Published under Cement NewsVotorantim Cimentos ended the 2Q24 with a higher net revenue from increased volumes, supported by geographic and product diversification. The company recorded global net revenue of BRL7bn (US$1.27bn) in the 2Q24, a one per cent increase compared to the same period last year, excluding the effect of exchange rate variation. This result is mainly due to the positive performance of operations in Europe, Asia, Africa and Brazil. In the 2Q24 the company’s global cement sales totalled 9.6Mt, a t... |
India Cements announces capex plans30 May 2024, Published under Cement NewsIndia Cements plans to spend around INR7000m (US$84m) on capex over the next two years, primarily to improve operational efficiency, according to BusinessLine Online. Among its improvement initiatives, the company is installing a new 8MW waste heat recovery system at its Chilamkuru plant in the Kadapa district of Andhra Pradesh. Its Sankarnagar works at Tirunelveli in Tamil Nadu will receive a crusher, while its Dalavoi facility at Ariyalur in Tamil Nadu and the Banswara plant in ... |
Holcim to invest US$55m in Tabasco mill15 February 2024, Published under Cement NewsHolcim Mexico plans to invest US$55m in the construction of a new grinding mill at its plant in Macuspana , Tabasco, Mexico. The new mill will increase cement capacity at the facility to 1.5Mta. This investment in Tabasco reflects our firm belief in the potential of southeastern Mexico and our commitment to the sustainable development of the region," said Jaime Hill, Holcim Mexico's CEO, in a statement. "Through this expansion, we will not only increase our capacity to supply the state... |
Birla Corp announces expansions in FY25-2607 September 2023, Published under Cement NewsBirla Corp , the flagship company of MP Birla Group , is planning to increase cement production to 25Mta by the end of financial year 2025-26. The existing capacity of Birla Corp headed by Harsh V Lodha stands at about 20Mta. The company is planning to ramp up its production capacity from a greenfield cement plant at Mukutban near Nagpur, setting up a setting up a second clinker unit at Maihar in Madhya Pradesh and constructing new grinding units in north India. “With the commissio... |
Fitch downgrades West China Cement04 September 2023, Published under Cement NewsFitch Ratings has downgraded West China Cement Ltd ’s (WCC) long-term issuer default rating (IDR) and its senior unsecured debt rating from BB to BB- due to the cement producer's aggressive capex, primarily outside China. The outlook on the IDR is negative. According to Fitch, WCC has been investing heavily since 2021 with a focus on overseas markets, resulting in higher leverage and persistently negative free cash flow. In 2022 West China spent CNY3bn (US$412.7m) in capex, 84 per cent of... |
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |
Adani Group investment to soar12 January 2023, Published under Cement NewsThe Adani Group will invest over INR600,000m (US$7.4m) in a number of sectors in Madhya Predesh that would create thousands of jobs. This would reshape the economy of several districts in the state, said Pranav Adani, director at Adani Enterprises, at the seventh Madhya Predesh Global Investors Summit. Currently, the group has investments of close to INR275,000m in sectors such as power generation and transmission, gas distribution, cement manufacturing and agro processing, among other... |
Lucky Cement becomes the largest cement producer in Pakistan23 December 2022, Published under Cement NewsLucky Cement Ltd informed Pakistan Stock Exchange (PSX) on 22 December that construction and installation work concerning the brownfield expansion of the additional line of 3.15Mta at its manufacturing site at Pezu , Khyber Pakhtunkhwa (KPK), has been completed within the planned project timelines. In a regulatory filing, GM Finance and Company Secretary, Faisal Mahmood, said the new line is operational and clinker production commenced on 22 December 2022. The company’s total producti... |
Bestway Cement's post expansion capacity will stand at 15.2Mta30 November 2022, Published under Cement NewsThe top management of Bestway Cement Ltd organised a corporate briefing earlier this month to discuss the company's 1QFY22-23 results and outlook. The company's CFO, Muhammad Amir Khan, and Head of Budgeting, Treasury and Reporting, Muhammad Danish Khan, of Bestway Cement Ltd announced that the start of commercial operation of 7200tpd clinker line at the Minawali location is expected in December 2022 and the 7200tpd clinker line in Hattar II will start up in March 2023. The post-expan... |
Shree Cement targets improved distribution07 July 2022, Published under Cement NewsShree Cement , India's country’s third-largest cement group, plans to increase its share in its existing markets by offering varied products based on requirements of different customers and improving distribution as a short-term goal. “We are envisioning an increase in installed capacity to 80Mta by 2030, exploring new geographies through both the organic and inorganic routes,” Prashant Bangur, joint managing director, Shree Cement, told shareholders in the company’s annual report for F... |