Cement News tagged under: Iraq
Attock Cement Pakistan receives sales proceeds from the Iraqi plant11 September 2024, Published under Cement NewsAttock Cement Pakistan Ltd informed the Pakistan Stock Exchange (PSX) on 9 September that it had received the sales proceeds of its stake in a cement facility in Iraq. Attock Cement has completed the sale of its shareholding in its subsidiary, Saqr Al Keetan for Cement Production Co Ltd (SAKCPCL), receiving the third tranche of payment amounting to US$5.850m. This marks the final consideration against the sale of the remaining 4.5m shares held in SAKCPCL. The company is now initiati... |
Attock Cement sells additional stake in Iraq cement firm for US$5.85m21 August 2024, Published under Cement NewsAttock Cement Pakistan Ltd, a Pakistan-based cement producer which manufactures ordinary Portland cement, sulphate-resistant cement, Falcon rock cement and Falcon block cement, has announced its sale of an additional stake in Saqr Al Keetan of Cement Production Co Ltd (SAKCPCL). SAKCPCL operates a 0.54Mta grinding facility in the Basra region of Iraq. Attock’s stake (4,500,000 shares) in the Iraq-based company will be sold to an undisclosed acquirer for US$5.85m. Attock, a subsidiary... |
Medhat Ismail appointed the new CEO of Lafarge in Iraq30 July 2024, Published under Cement NewsMedhat Ismail will start his new position as Lafarge Iraq CEO in August 2024. Medhat brings a wealth of experience to his new role. His proven ability to drive industrial transformation while prioritising sustainability aligns perfectly with Holcim’s global strategy. By pioneering alternative raw materials and building the Geocycle platform, he has positioned Iraq at the forefront of the circular economy, says Lafarge Iraq. His leadership will be instrumental in accelerating other co... |
Iraq: time for growth?16 April 2024, Published under Cement NewsIraq is starting to see investment and action in the construction sector led by higher cement demand. The country’s government is pushing its agenda for new infrastructure and for the doubling of cement capacity. Infrastructure and housing plans drive cement demand in Kurdistan, Iraq, where the industry continues to expand (© Al Orfali) When the COVID-19 pandemic struck in 2020, the Iraqi economy declined by 15.7 per cent. Its recovery to pre-2019 levels took two ... |
Achieving critical Mass in Iraq’s cement industry15 April 2024, Published under Cement NewsThe Mass Cement plant is one of several located in the Bazian area in the Kurdistan region of Iraq. As an established cement plant and the largest in the country, it has been under strict environmental performance regulations and has targeted energy efficiency improvements in recent years. From its humble beginnings in 2010, Mass Cement's plant in the Bazian district of Iraqi Kurdistan, the company has developed into a key cement producer in the country ( © Mass Iraq Co for Cem... |
Northern Region Cement sells share in Al-Kubaisa plant05 March 2024, Published under Cement NewsNorthern Region Cement Co has announced the sale of its 50 per cent stake in Cement Experts Co for Development and Investment to UAE-based AMP Global Trading. According to The People’s Network, the deal, which has been valued at US$55m, involves the Al-Kubaisa cement plant in Iraq, in which Cement Exports hold a 51 per cent share. With Northern Region Cement relinquishing its 50 per cent share in Cement Experts, the transaction gives AMP a significant indirect interest in the Iraqi pl... |
IFC invests US$130m in Iraq's Al Douh Cement15 January 2024, Published under Cement NewsIFC is investing in Al-Douh Iraqi Company for Cement Industries (part of Al-Riyadh Investment Companies Group) to help boost economic diversification and improve sustainable growth in Iraq. IFC is providing a financing package of up to US$130m in long-term debt to Al-Douh. The financing will enable Al-Douh to expand its cement production capacity by 1.9Mta to reach overall production of approximately 3Mt of cement by the end of 2025. Of the total financing provided, up to US$25m will be... |
Northern Region Cement signs US$44m Iraq partnership04 January 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co has signed a partnership agreement with Al-Diyar Al-Iraqia for Investments Co which sees the Iraqi company acquire 49 per cent of Northern Region Cement’s Iraqi investments. The deal is valued at US$43.95m and proceeds will be used to inject external investments in promising opportunities and repay a portion of the high-cost loans amid high financing costs, according to a bourse disclosure. The agreement will enable Northern Region Cement to... |
Attock Cement Pakistan Ltd completes share sales in Iraqi subsidiary03 August 2023, Published under Cement NewsThe Company Secretary at Attock Cement Pakistan Ltd, Irfan Amanullah, has informed the Pakistan Stock Exchange (PSX) that further to the company’s intimation dated 21 June 2023, regarding the sale of the entire shareholding of the company in its subsidiary Saqr Al-Keetan for Cement Production Co Ltd (SAKCPCL), it announces that the process of transfer of 9m shares to the buyers is duly completed on 26 July 2023 and the shares have been registered in the name of buyers under the Iraqi Law... |
Fujairah plant orders WHR system from Turboden17 July 2023, Published under Cement NewsTurboden SpA, a Mitsubishi Heavy Industries Group company, together with ENGIE Solutions GCC, has been selected by LEC for the production and installation of a 10MWe WHR organic Rankine cycle (ORC) system at the Fujairah cement plant, UAE. Based on a closed-loop thermodynamic cycle, the ORC system will help LEC avoid 29,000tpa of CO 2 emissions from the grid, representing a reduction of 28 per cent in power-related emissions. The waste heat recovery system based on the ORC techn... |