Cement News tagged under: Weekly Newsletter
Holcim opens its Innovation Hub06 September 2023, Published under Cement NewsHolcim has announced the opening of its Innovation Hub to showcase its sustainable building solutions and serve as a co-creation lab to accelerate low-carbon, circular and energy-efficient building worldwide. Spread across three floors, the Hub offers working spaces to host start-ups and think tanks to accelerate innovation. It will also serve as an urban dialogue platform to explore the future of sustainable cities and their construction via interactive exhibits and events. Nollaig Forre... |
Adani Cements plans green capacity expansion05 September 2023, Published under Cement NewsThe new capacity additions for Adani Cements would be only for manufacturing of green cement, as it looks to double the production of the commodity to about 140Mta by FY27-28. The two Adani Group cement companies, ACC and Ambuja Cements, would only add capacities through the organic route, which would be mainly funded through internal accruals. Green cement is manufactured by reusing industrial wastes, such as slag and fly ash and energy efficiency modes, which reduces carbon emissions. Ind... |
PPC appoints new CEO05 September 2023, Published under Cement NewsSouth Africa-based cement producer PPC has appointed Matias Cardarelli as its new CEO. Mr Cardarelli was employed previously as CEO and chairperson of Natal Portland Cement , part of Intercement , in the last five years. Prior he also held posts at Amreyah Cement in Egypt and Yguazú Cementos in Paraguay. In addition, following the onset of COVID-19 and a new entrant into the Mozambican cement market, his portfolio had been expanded to include Cimentos de Mozambique , where he su... |
JSW Cement reveals IPO plans to fund expansion04 September 2023, Published under Cement NewsJSW Cement is planning to launch an initial public offering (IPO) in 2024 to raise INR40,000m (US$483.8m) to fund its ongoing expansion plans, reports Live Mint. “In 2024, we are planning to take this company public, for which we will be filing the DRHP (draft red herring prospectus) in the next six months. We will be timing the market listing after the national elections,” confirmed Parth Jindal, managing director, JSW Cement. According to the company, it hopes to raise I... |
BUA Cement says new plants will drive down cement prices04 September 2023, Published under Cement NewsBUA Cement has said that it hopes the completion of its two new plants this year would result in the lowering of cement prices in Nigeria. The company plans to add 6Mta of cement production capacity by the end of 2023 with the opening of Line 3 at its Obu plant and Line 5 at its Sokoto plant, according to Punch. Contractors in the country have reportedly been complaining to the government over the high cost of cement, suggesting that imports would be cheaper. The Minister of Works i... |
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |
Fauji Cement Co sees profit expand YoY in FY2330 August 2023, Published under Cement NewsFauji Cement Co Ltd (FCCL) has earned profit after tax of PKR7.4bn (US$24.34m) in FY23, compared to PKR7.1bn in FY22. The result comes despite the retrospective increase in the Super Tax rate from four per cent to 10 per cent having an impact of PKR1.98bn and taking the effective rate to 39 per cent. The gross finance cost also advanced from PKR1.2bn to PKR3.64bn to during this period. According to the company, it has continued to focus on implementing cost optimisation initiatives, i... |
Sika concrete recycling technology receives US$11m in funding30 August 2023, Published under Cement NewsSika has received CHF10m (US$11.34m) in funding for its innovative reCO2ver ® concrete recycling technology. ReCO2ver involves a novel concrete recycling process that allows old concrete to be entirely reused while facilitating the sequestration of CO 2 . To support the use of the technology, Switzerland’s Climate Cent Foundation is guaranteeing the purchase of CO 2 certificates from the programme for an initial amount of CHF10m. Sika’s reCO2ver technology not only separates old concret... |
H&M Construction Co to build GCC K3 Odessa expansion project29 August 2023, Published under Cement NewsH&M Construction Co, Inc has been selected by GCC to be the design-builder of its new K3 pyroprocessing expansion at the Odessa , Texas, USA facility. GCC, a leading producer of cement and concrete in the US and Mexico, recently announced that it will execute a capacity expansion at the Odessa plant, increasing its cement production capacity by over 1Mta and lowering the plant’s greenhouse gas intensity by 13 per cent. As part of the design-build scope, H&M will work closely with GC... |
Brevik plant completes stack mounting of CCS project29 August 2023, Published under Cement NewsFollowing installation of the first half of the absorber at Heidelberg Material ’s Brevik CCS plant in Norway two weeks ago, with only 1mm of leeway, the stack has now been mounted on top of it. The absorber is the heart of the carbon capture process, separating the CO 2 and preventing it from reaching the atmosphere. Last week, Norway's Minister of Petroleum and Energy, Terje Aasland, visited the facility to verify the progress Heidelberg Materials is making on its way to o... |