Cement News tagged under: Kenya
CDC seeks ARM divestment18 January 2018, Published under Cement NewsThe Commonwealth Development Corp (CDC), the UK government agency that acquired a 42 per cent stake in ARM Cement, is reportedly in talks with several, mostly Asian, companies to sell its shares in the Kenyan cement producer. When it invested in ARM Cement, the agency provided a US$140m cash injection to turn the cement firm around, but this has turned out to be insufficient. |
Bamburi Cement launches seasonal driver improvement programme07 December 2017, Published under Cement NewsBamburi Cement has begun a pre-Christmas campaign to improve driver safety. Over 1200 drivers and 1,000 bodaboda operators are set to benefit from the training that will be offered during the campaign. The campaign's caravan was waved off from the company's Mombasa plant based in Bamburi on Tuesday, and will stop at identified locations in the coastal city before proceeding to Mariakani, Voi, Mtito Andei, Makindu, Sultan Hamud, Salama, Masimba, Machakos Junction, Athi River (Mlolongo) and ... |
Kenyan producers to cut cement prices04 December 2017, Published under Cement NewsCement companies intend to lower their prices and achieve regional competitiveness following the reduction in local off-peak power prices. President Uhuru Kenyatta's directive issued last Tuesday took effect at midnight (1 December). Under the directive, manufacturers will have their electricity consumption during the low peak period between 22-06h period halved. Savannah and National Cement brand makers said they have seen demand for local cement rising following the local price drops. S... |
Savannah Cement trained 10,000 masons in the past five years30 November 2017, Published under Cement NewsSavannah Cement have renewed a joint commitment with the National Construction Authority (NCA) to improve construction standards in Kenya, according to Capital Business. The cement company will continue to provide training and development opportunities to those workers seeking NCA accreditation in the building and construction sector. Over the last five years, Savannah Cement have trained 10,000 masons. "Recently, the two organisations agreed to have all masons trained by Savannah Cement i... |
New cement plant to be built in Kilifi, Kenya20 November 2017, Published under Cement NewsARM Cement’s facility in Kilifi County is likely to face competition as Devki Group founder, Narendra Raval, plans to invest in the construction of a 0.75Mt cement plant in Mariakani, Kilifi County. The project, which represents a US$290m investment, will be built on a 20ha site. Construction of a new cement plant will further bring down the prices while reducing the long distances lorries cover to deliver cement to Kenyans at their doorstep,' said Mr Raval, according to Business Daily Af... |
Will ARM secure a firmer financial footing?17 November 2017, Published under Cement NewsThe increasing trend of African sector mergers reflects the tightening economic pressures on African cement producers and their challenging prospects going forward. In the past week, ICR has reported on the merger between Unicem and Atlas Cement in Nigeria as well as CRH's interest in acquiring PPC Cement of South Africa. Meanwhile, the Kenyan and Tanzanian markets could also see a change in structure with ARM looking for new investors to stave off becoming the latest takeover target. ... |
Consortium applies to build 1Mta grinding unit in Athi River13 November 2017, Published under Cement NewsA consortium of local quarry operators and institutional investors are planning to establish a KES5bn (US$48.3m) cement plant in Athi River, Kenya. Global Choice Ltd will build a 1Mta grinding unit at the location. Roller press technology will be used to produce 3000tpd of cement. Clinker for the plan will be imported and transported via the standard gauge railway while pozzolana and gypsum will be locally sourced, creating new revenues for the quarry operators. The company is currently... |
East African Portland Cement reports KES1.4bn loss08 November 2017, Published under Cement NewsEast African Portland Cement Co (EAPCC) saw its net profit of KES4.1bn (US$39.6m) for the year ended 2016 evaporate to record a KES1.4bn loss for the year ended 30 June 2017. Revenues at the Kenya-based cement producer fell 21.9 per cent YoY to KES6.93bn from KES8.87bn. Loss before tax in FY17 stands at KES1.71bn compared with a pretax profit of KES3.73bn in the year-ago period. |
Quantum Global exits Savannah Cement20 October 2017, Published under Cement NewsFollowing the receipt of regulatory approvals, Quantum Global Group has completed the sale of its stake in Savannah Cement. "We are delighted to have partnered with Savannah Cement in one of the critical industry sectors in East Africa, advancing together to aim to close the existing infrastructure gap in Africa. The exit from this investment is testament to the success of our approach of deploying capital in transformative sectors of key importance in Africa at the right time,’" said Qua... |
Egypt doubles value of cement exports in 9M1716 October 2017, Published under Cement NewsEgypt’s cement exports rose 88 per cent during the first nine months of 2017, reaching around US$72m compared to US$38m last year, its building industries export council said on Sunday. Ten countries have captured 89.3 per cent of the Egyptian cement exports, which Saudi Arabia came on the top of the list, the report said. Exports to Saudi Arabia reached 11.186 million compared to US$15.483m last year. Exports to the Kenyan market have soared 1127 per cent to record US$9.385m in nine m... |