Cement News tagged under: Kenya
Savannah lines up new capacity investments14 October 2014, Published under Cement NewsSavannah Cement, one of Kenya's newest market entrants, is set to build two new plants as it nears exhaustion of its current capacity, managing director, Ronald Ndegwa, said. The company has previously said it is to invest around US$250m for a clinker plant at its Athi River factory to reduce reliance on imported clinker. The 1.5Mta clinker facility will complement the existing 1.5Mta grinding unit. Mr Ndegwa said the company will also invest in a second mill to support existing operations... |
Kenya National Cement Co to expand with IFC finance11 August 2014, Published under Cement NewsThe IFC is providing up to US$70m to Kenya's National Cement Company Ltd (KNCC) to expand the cement producer's operations, increase the local cement supply and promote infrastructure development in Africa. IFC will provide up to US$55m in debt. In addition, IFC and the IFC African, Latin American and Caribbean Fund will inject US$15m equity into National Cement and will have a seat on the company’s board, said the IFC in a statement. The project marks IFC’s largest investment in building... |
Bamburi posts first-half pretax profit drop08 August 2014, Published under Cement NewsBamburi Cement posted a 28 per cent drop in first-half pretax profit to KES2.3bn (US$26.2m) from KES3.2bn a year earlier. The Lafarge group company attributed the decline to rising power costs, increased use of imported clinker and the introduction of a mining levy in Kenya. Operating profit fell 27 per cent to KES2.2bn compared KES3bn in the comparative period of 2013. However, turnover rose 9.5 per cent as a result of higher sales volumes in the first half of the year both to domestic ma... |
Pokot factory nearing construction phase, Kenya07 August 2014, Published under Cement NewsConstruction is expected to start on the Pokot Cement Factory as the establishment of preliminary facilities gets underway. Governor of West Pokot, Simon Kachapin, said that the Indian investors behind the factory have been allowed to start setting up associated facilities such as housing for the workers who will construct the plant. The new 1.2Mta plant is being established by Cemtech Ltd, a subsidiary of the Sanghi Group of India. As part of the project, the group will also set up a 6... |
Savannah Cement plans clinker line, Kenya06 August 2014, Published under Cement NewsKenya-based Savannah Cement plans to establish a clinker line at an investment cost of around KES17bn (US$193.3m). The cement producer currently imports clinker for its plant based in Athi River, Standard Digital News (Kenya) reported. While plans for the new clinker line are still at an early stage, the Savannah Cement expects completion of the facility by the end of 2017. Ronald Ndegwa, Savannah Cement’s managing director, told reporters that the company is currently scouting four di... |
National Cement Co to receive IFC cash injection24 July 2014, Published under Cement NewsKenya-based National Cement Co Ltd (NCCL), a member of the Devki Group of Companies, is to receive a KES5.9m (US$70m) cash injection from the International Finance Corp (IFC) to fund its two-phase expansion project. Under the agreement, the IFC will provide US$55m in debt. In addition, IFC and the IFC African, Latin American and Caribbean Fund, will inject US$15m in equity into National Cement and will have a seat on the company’s board. The equity injection will see National Cement un... |
ARM Cement first-half pretax profit 20% higher YoY18 July 2014, Published under Cement NewsARM Cement's pretax profit rose 20 per cent to KES1.2bn (US$13.68m) in the first half of 2014, the Kenyan firm said on Friday. Total revenue increased by 16 per cent YoY to KES7.6bn with cement sales up by 10 per cent in Kenya and by more than a third in Tanzania. "The east African regional economies are growing briskly, and demand for cement, as well as the other products are expected to grow further," the company said. Its fertilizer line also posted good sales growth after the K... |
Kenya: Holcim won't buy out Bamburi Cement10 July 2014, Published under Cement NewsHolcim said it has no intention of making a takeover offer for Bamburi Cement Ltd in Kenya if competition regulators allow its planned merger with Lafarge SA, Bloomberg reports. “We have no intention of making a takeover offer for BCL,” Holcim said. Bamburi will continue to trade on the Nairobi Securities Exchange, it said. Holcim, based in Switzerland, and Paris-based Lafarge SA are seeking antitrust backing for a planned US$40bn merger they intend to complete by the 1H15. Once the transa... |
Construction boosts Kenyan cement demand08 July 2014, Published under Cement NewsIn May, cement consumption in the Kenya rose to 450,379t in May, up from 426,523t in April and continuing the upward trend noted since March when demand stood at 387,266t, according to the Kenya National Bureau of Statistics (KNBS). Since the start of the year Kenya has consumed over 2Mt of cement, according to the government agency’s Leading Economic Indicators report. When compared with May 2012, demand in May 2013 increased by 140,878Mt, suggesting an ongoing rise in demand this year... |
GCR affirms ARM Cement's ratings, outlook Stable30 June 2014, Published under Cement NewsGlobal Credit Ratings (GCR) has today affirmed the national scale ratings assigned to ARM Cement Ltd of A(KE) and A1(KE) in the long term and short term respectively. The outlook is Stable. GCR said the Kenyan cement producer's well-entrenched position in the East African cement industry has been augmented by an aggressive roll-out of capacity in the past five years. With the completion of the Tanga plant in Tanzania later this year, ARM will secure clinker sufficiency in FY14/FY15, which... |