Cement News tagged under: Corporate
Lafarge Egypt to increase AR rate to 50%12 December 2022, Published under Cement NewsLafarge Egypt plans to increase its alternative fuel rate to 50 per cent in the near future. Speaking at the Euromoney Egypt Conference 2022 in Cairo last week, Ahmed Khalifa, chief financial officer and IT director at Lafarge Egypt, said the company had already reached 20 per cent alternative fuel use as part of its vision on transition to energy mix, according to Egypt’s 2050 strategy, reports Mist News. “ We in Lafarge Egypt are promoting and contributing towards transforming into ... |
Chongqing Sifang resumes operations12 December 2022, Published under Cement NewsChina-based cement producer Chongqing Sifang New Materials has resumed operations following the lifting of COVID-19 restrictions in the country, according to Reuters. Prolonged pandemic control measures in China, coupled with the monsoon season in the south, kept demand for construction materials weak in the second quarter of 202s, reported Fitch Ratings. Government stimulus packages plus the relaxing of restrictions has led to an uptick in demand in the second half of 2022. |
SOCOCIM Industries to arrange IFC loan for Kiln 6 project12 December 2022, Published under Cement NewsSenegal-based SOCOCIM Industries (VICAT group) is organising a debt facility with the International Finance Corporation (IFC) to construct a high fuel-efficient Kiln 6. The total project cost is expected to be up to EUR260m. IFC’s financing consists of up to EUR120m IFC A-loan and up to EUR120m equivalent in parallel loans. The investment includes the equipment for a complete clinker line , quarry crusher and associated conveyors, pre-stocking hall, raw grinder, fuel preparation works... |
Jaiprakash Associates convenes divestment meeting12 December 2022, Published under Cement NewsJaiprakash Associates ( Jaypee Group ) has informed that a board meeting has been convened to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives. Jaypee Power Ventures (Jaypee Group) will hold a board meeting on Monday, 12 December to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh. In a regulatory filing, Jaypee Power Ventures informed that a board meeting has been convened on Monday t... |
Crown Cement commences construction of its 6th line09 December 2022, Published under Cement NewsCrown Cement PLC (formerly MI Cement Factory Ltd) has announced the commencement of construction work on its sixth line at the existing factory premises at West Mukterpur, Munshiganj, Bangladesh, with a capacity of 8000tpd to increase the overall capacity of the company from 11,000tpd to 19,000tpd. The investment amounts to BDT7.07bn (US$8.6m), according to the latest annual report 2021-22, released last week. No timeframe for the new line’s completion was reported. Chairman of the co... |
Siam Cement Group enters JV for new ACC plant09 December 2022, Published under Cement NewsThailand-based Siam Cement Group (SCG) has entered into a joint venture (JV) with India’s BigBloc Construction (BCL) to build a greenfield plant to manufacture aerated autoclaved concrete (AAC) blocks and AAC panels. The JV, known as Siam Cement BigBloc Construction Technologies, is 52 per cent controlled by BCL and 48 per cent controlled by SCG. The new works marks an investment of INR650m (US$7.9m), according to Financial Express, and will be located in the Kheda district, near Ahmed... |
Cementa's time-limited extraction permit stands08 December 2022, Published under Cement NewsThe Supreme Administrative Court (HFD) has decided that the time-limited extraction permit, which the government announced to Cementa ( Heidelberg Materials ) in the fall of 2021, must stand. HFD made the assessment that the government's decision on a time-limited permit does not contravene any legal rule. This means that limestone quarrying and cement production in Slite can continue as planned for the rest of the year. Cementa's previous permit to mine limestone in Slite expired ... |
Holcim Bulgaria awarded 35-year concession08 December 2022, Published under Cement NewsThe Bulgarian government has granted Holcim Bulgaria a concession for the Marudnicite West sand and gravel deposit near Sofia for 35 years. The deposit is located between the villages of Negovan and Chepintsi on the northeastern outskirts of the city. Holcim Bulgaria plans to invest over BGN2.6m (US$1.4m) to ensure extraction and pre-production activities at the site for the duration of the concession, reports SeeNews. The company is expected to pay out more than BGN5m in concession pay... |
CIMERWA posts end of year revenue of RWF92.1bn07 December 2022, Published under Cement NewsCIMERWA Plc 's year-end financial results recorded revenue of RWF92.1bn (US$84.6m) in 2022, 37 per cent above the previous year. “This is mainly attributed to the optimisation of our production processes, cost savings initiatives and the effective execution of our route-to-market strategy for both our domestic and export markets,” said John Bugunya, CFO of CIMERWA Plc. “Our Profit Before Tax stood at RWF16.9bn, a significant improvement of 212 per cent compared to the prior year. ... |
Groundbreaking at JK Cement's Madhya Pradesh grinding plant07 December 2022, Published under Cement NewsJK Cement has performed a groundbreaking ceremony for its 1.5Mta greenfield grinding unit in Madhya Pradesh’s Ujjain district. Construction and installation activities have commenced with an investment of INR4000m (US$48.5m) Currently, JK Cement has two operating units in the state, a greenfield integrated cement plant at Panna and a wall putty plant in the district of Katni. The company plans to increase its cement production capacity to 25Mta by FY2024-25 and has developed a roadmap ... |