Cement News tagged under: Nigeria
Dangote reports 60% rise in sales in 1H1629 July 2016, Published under Cement NewsDangote Cement announced its unaudited results for the six months ended 30 June 2016. The company saw its revenue grow by 20.6 per cent to NGN292.2bn (US$925m) but lower selling prices, higher fuel costs and the impact of Pan-African plants in ramp-up phase saw its EBITDA down 10.2 per cent to NGN132.5bn. The EBITDA margin reached 45.4 per cent. Net debt stood at NGN293.3bn, giving a net gearing of 43.1 per cent. In terms of group cement volumes, Dangote sold 59.5 per cent more cement YoY... |
Nigeria: Ashaka Cement signs NGN11bn coal power agreement26 July 2016, Published under Cement NewsAshaka Cement plc has signed a NGN11bn (US$35m) contract with China-based RUNH Power Corp Ltd for the construction of a 16MW lignite-fired coal power plant at its cement plant in Gombe State, Nigeria. The power plant will be operated by firing coal from Ashaka Cement-owned local coal mine reserves located in Maigana, 140km distance from the cement works. Scheduled for completion in 2018, the facility would enable the cement plant to reduce its reliance on the national grid and diesel-... |
Lafarge Africa in 2Q1626 July 2016, Published under Cement NewsLafarge Africa Plc has released its financial results for 2Q16, reporting a total revenue of NGN107bn (US$344.9m). Cost of sales stood at NGN92.2bn (US$297.3m), down from NGN98bn (US$315.9m) in the same period last year and administrative/distribution and other expenses dropped to NGN12.2bn (US$39.3m) from NGN4bn (US$45.1m). The company’s revenue of NGN30.8bn (US$99.3m) fell by NGN28.5bn (US$91.9m) due to foreign exchange loss after the naira’s devaluation. The company also suffered diminish... |
Nigeria: Sinoma wins EPC contracts for two projects20 July 2016, Published under Cement NewsChina National Materials Company said its subsidiary Sinoma International Engineering Co Ltd, has signed two Engineering, Procurement and Construction (EPC) contracts in Nigeria - one for a 6000tpd production line with Okpella Cement Plc and a further one for the 1.5Mta Onne slag grinding plant with Dangote Cement Plc. The first project is for a 6000tpd integrated cement plant in Okpella, Edo state, and covers the whole process from crushing of limestone mines to packing and delivery of... |
Ghana: Pozzolana Cement to make redundancies?19 July 2016, Published under Cement NewsManagement at Pozzolana Ghana Ltd is considering redundancies or the temporary shutting down of the company following power outages. According to Collins Opoku Gyan, production manager, the company cannot afford to continue paying salaries at a time when no profits are being made. “We have workers that we have employed and paying them, if there is no light, we can’t work. We have to pay them too, so it is costing the company a lot. If nothing is being done about it, the best thing is that... |
Nigeria: Lafarge Africa launches logistics academy for truck drivers18 July 2016, Published under Cement NewsLafarge Africa Plc has established a logistics academy for truck drivers in an attempt to lower the level of reckless driving in Nigeria. According to the company the academy will educate drivers on the fundamentals of safety and fleet management. Michael Puchercos, group managing director, explained that the academy follows up on a road safety project also established by the company to ensure good performance from its drivers. On behalf of Mr Puchercos, Fidelia Osime, director of organis... |
Nigeria: cement prices increase12 July 2016, Published under Cement NewsAccording to The Guardian Nigeria market research, there has been a fluctuating increase in cement prices since May 2016. Previously prices had been reduced by Dangote Cement Plc, the leading producer of cement in the country, with prices dropping from approximately NGN2000 (US$7.08) to NGN1000-1400 (US$3.54-4.96) per 50kg bag. However, bags of cement sell now at up to NGN2000 across all brands. This return to high prices has slowed housing construction, real estate activities and has inc... |
West Africa powers up04 July 2016, Published under Cement NewsWest Africa’s booming population and economic development are expected to fuel cement consumption in the long term and the region’s prospects look bright. However, as the regional cement sector rapidly builds production capacity to keep pace with anticipated demand, challenges remain for the industry, including inflation, lower oil receipts and power shortages. By ICR Research, UK. Ghana: HeidelbergCement's Tema plant keeps production rolling West Africa’s population is set to m... |
Nigeria: agreement reached on Bol managed import levy funds22 June 2016, Published under Cement NewsThe Bank of Industry (BoI) in Nigeria said allegations over the misapplication of the cement funds which had prompted investigations by the Economic and Financial Crimes Commission (EFCC) had now been resolved. BoI was appointed in 2009 to manage the fund that accrued from levies on imported cement for the development of Nigeria’s cement industry. Bol further explained that new terms had been reached on how to manage the funds which had grown from N9bn (US$31.9m) in 2011 to N13.2bn (US$46... |
Nigeria: Dangote appoints non-executive director15 June 2016, Published under Cement NewsDangote Cement PLC, Africa’s largest cement producer, announces the appointment of Dorothy Udeme Ufot, SAN, as an independent non-executive director. Mrs Ufot has more than 26 years’ experience in commercial litigation at trial and appellate levels, having been admitted to the Nigerian Bar in 1989 and then admitted to the Inner Bar as a Senior Advocate of Nigeria (SAN) in April 2009. She also qualified as a Chartered Arbitrator at the Chartered Institute of Arbitrators, London, in 2003. ... |