Cement News tagged under: Weekly Newsletter
PCA expects 2015 demand to increase 5%10 September 2015, Published under Cement NewsDespite volatility in equity markets and concerns about global growth conditions, PCA Chief Economist and Group Vice President, Edward Sullivan, has said “the fundamentals in the United States are sound and should support sustained growth in construction activity.” The PCA notes that the US economy is characterised by steady and strong gains in net job creation, low inflation, low interest rates, improving business and consumer confidence all of which paints an optimistic near term outlook.... |
Senj Sant cement plant opens in Mongolia10 September 2015, Published under Cement NewsA newly-opened greenfield cement plant is set to boost Mongolia’s domestic supply of building materials at a time when the country is looking to stimulate new investment and construction. The Senj Sant cement plant was opened on 13 August 2015 in Urgun Soum, Dornogovi province, 450km from the capital Ulaanbaatar. It is the first dry-process plant to be installed in Mongolia, a factor which is of particular significance given the scarcity of water in the Gobi region, the EBRD notes. Anoth... |
LafargeHolcim offer to pay down €1.75bn debt08 September 2015, Published under Cement NewsLafargeHolcim announced that they have offered to pay down EUR1.75bn worth bonds (average cost of 5.8 per cent) with an expiration date of 15 September. JP Morgan believe this should lower the annual interest cost by CHF423m and help the group in attaining a lower cost of debt. It further believes the company has the ability to further lower gross debt following the disposal of assets to CRH for EUR6.5bn. |
CEMBUREAU: EU-ETS proposal needs to incentivise best performers07 September 2015, Published under Cement NewsThe European Commission (EC) recently published the long-awaited post-2020 EU Emissions Trading Scheme (EU-ETS) proposal. Although the EC acknowledges the importance of continued carbon leakage protection, it maintains the cross-sectoral correction factor, to the disappointment of CEMBUREAU, the European cement association. “Even if the Commission claims its application will be minimised, the allocation to the best performer would be drastically reduced through the combined application wi... |
Nigeria: BUA Cement signs US$600m expansion deal with Sinoma07 September 2015, Published under Cement NewsBUA Group has signed US$600m worth of contracts with China's Sinoma International Engineering Co to double capacity at its Obu cement plant. The plant currently produces 3.5Mta, but by the end of 2017 capacity will rise to 7Mta. BUA's executive chairman, Abdulsamad Rabiu, said at the signing ceremony, “BUA has less than 10 per cent of market share now, after expansion we should go to about 20 per cent.” The Nigerian cement market is currently controlled by Dangote Cement, which has a 70... |
PPC Zimbabwe's capacity to rise to 1.5Mta in 201604 September 2015, Published under Cement NewsPretoria Portland Cement (PPC) plans to expand its cement capacity to 1.5Mta from the current 1.1Mta, following the completion of the company's new Msasa cement plant next year. The US$86m Msasa plant is expected to be commissioned in September 2016. The group expects to invest a total US$$200m on the 0.7Mta Msasa plant when the company finalises the entire project. The firm is still looking for a reliable source of limestone for the second phase of the project which entails establishment ... |
HeidelbergCement strengthens finances for Italcementi deal03 September 2015, Published under Cement NewsHeidelbergCement has strengthened its financing to prepare itself for the acquisition of Italcementi. On 31 August, the cement producer completed the disposal of its lime business in Germany to the Belgian Lhoist Group. Both companies agreed not to disclose any details about the transaction. In addition, HeidelbergCement successfully syndicated the bridge financing for the acquisition of Italcementi. All core banks of HeidelbergCement participated in equal shares in the syndication of the c... |
Lucky Cement close to winning limestone licence in Punjab province, Pakistan02 September 2015, Published under Cement NewsLucky Cement Ltd is close to winning a permit to extract limestone in Punjab province, signalling expansion plans for the Pakistan producer, according to a report by Bloomberg. The company will get a limestone quarry for a cement plant in Punjab, and the local administration has approved the deal, said Arshad Mehmood, secretary for Punjab’s mines and minerals department, the report stated. An agreement is expected to be signed in the next few days, he added. Although no longer Pakistan’s ... |
UltraTech Cement poised to lift capacity to 71Mta02 September 2015, Published under Cement NewsUltraTech Cement is set to take its capacity to 71.2Mta by 31 March 2016 on the back of ongoing projects as well as recent acquisitions, chairman Kumar Mangalam Birla said on Friday. "Despite the cement industry being snowed under the slowdown in the rural economy, lack of investment from both private and public sector coupled with the overall sluggish demand, UltraTech had put in a commendable performance...With the on-going projects underway, the capacity in India will grow to 71.2Mta by... |
Vietnam output rises 10.3% in first eight months01 September 2015, Published under Cement NewsVietnam produced 43.1Mt of cement in the first eight months of this year, up 10.3 per cent from a year ago, including 5.9Mt in August, up 16.9 per cent, the government-run General Statistics Office said. In the first seven months, the country’s cement production hit 37.2Mt, according to the revised figure. Cement and clinker sales are expected to rise 1.5-4 per cent YoY to between 72-74Mt this year, of which domestic sales will rise 4.5-6.5 per cent to 53-54Mt, while the exports will be 19... |