Cement News tagged under: Weekly Newsletter
ACCSION CO2 capture project wins EUR220m EU Innovation funding28 October 2024, Published under Cement NewsAalborg Portland A/S ( Cementir group ) and project partner Air Liquide have received EUR220m in support from the EU Innovation Fund to establish a large-scale CO 2 capture facility by 2029. The ACCSION project is expected to reduce CO 2 emissions by 1.5Mta. In 2022 Aalborg Portland announced a new climate plan with a very ambitious target of reducing CO 2 emissions by 70 per cent by 2030. Since then, emissions have dropped by more than 25 per cent as a result of many new initiativ... |
OPEC+ struggles to support oil as petcoke offers tempting discounts28 October 2024, Published under Cement NewsIn a market dominated by geopolitical news from the Middle East (Israel–Hezbollah–Gaza) and a new nuclear doctrine from Russia, which puts the next steps in the war in Ukraine in a new perspective, the energy complex has been resilient and moved lower. However, the US Federal Reserve’s interest rate cut of 0.5 per cent following the 0.25 per cent one by the European Central Bank eased the markets. Furthermore, China published a new stimulus plan and interest cuts, which added support, es... |
Holcim awarded grant for CCUS project in France25 October 2024, Published under Cement NewsHolcim has been selected for a new grant from the EU’s Innovation Fund for its breakthrough carbon capture and storage (CCUS) project in Martres-Tolosane, France. This grant for the CarboClearTech project marks Holcim’s seventh CCUS project, advancing the European Green Deal. Milan Gutovic, CEO of Holcim, said, “Holcim is on course to make net-zero cement and concrete a reality at scale this decade. This support from the EU Innovation Fund testifies to the strength of our engineering t... |
Dalmia Cement plans 100% renewably-powered plant in Madhya Pradesh24 October 2024, Published under Cement NewsDalmia Cement has announced plans to construct a 4Mta cement plant in Madhya Pradesh, becoming the first such facility in India to operate entirely on renewable energy. The project, valued at approximately INR30bn (US$ 356.82m) was revealed by Group Managing Director, Punit Dalmia, during the fifth Regional Industry Conclave (RIC) held in Rewa district on Wednesday. The new plant is part of Dalmia Cement’s broader commitment to sustainability and clean energy, with the company aiming ... |
Cemex receives funding for Rüdersdorf CCUS project23 October 2024, Published under Cement NewsA consortium comprised of Cemex and Linde, a leading global industrial gases and engineering company, has been selected to receive EUR157m (US$169.3m) in funding from the EU Innovation Fund for a pioneering CO 2 capture project at Cemex’s Rüdersdorf cement plant in Germany. The project, Cemex ’s largest planned carbon capture, use and storage (CCUS) project to date, aims to capture 1.3Mta of CO 2 from Rüdersdorf’s cement production, ultimately decarbonising the site by 2030. At Rüders... |
Vietnamese cement market expands 6% but exports fall 14% in September22 October 2024, Published under Cement NewsVietnamese cement sales increased six per cent YoY but fell 14 per cent MoM to 4,252,989t in September 2024, according to the latest data by the VNCA, the country’s cement association. Of this total, VICEM reported sales of 1,238,930t, up four per cent YoY but down 17 per cent MoM, while other VNCA members saw similar trends to 864,059t in September 2024. Non-VNCA members reported a seven per cent YoY rise sales to 2,150,000t but saw sales fall by 10 per cent when compared with August 20... |
Adani group acquires Orient Cement22 October 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire Orient Cement Ltd at the equity value of INR81bn (US$963.4m). This binding agreement set Ambuja to acquire a 46.8 per cent stake in Orient Cement. This acquisition will add 16.6Mta capacity, accelerating Ambuja’s journey to an operational capacity of over 100Mta in FY24-25. The target capacity of the group is 140Mta by 2028. This acquisition will provide an additional capacity of 6Mta in north India, leveraging Orient Cemen... |
200th anniversary of the Portland cement patent21 October 2024, Published under Cement News200 years ago today, on 21 October 1824, the patent for Portland cement was granted to Joseph Aspdin (1778-1855), a bricklayer and inventor from Leeds, UK. The product was called Portland cement because of the resemblance of the hardened concrete to Portland stone, a limestone quarried on the Isle of Portland in Dorset, UK. Portland cement, patented by Joseph Aspdin on 21 October 1824 Mr Aspdin, along with contemporaries including Louis Vicat (hydraulic limes), Isaac Johnson (s... |
Lower interest rates to benefit construction (USA)15 October 2024, Published under Cement NewsEd Sullivan, the chief economist and senior vice president of market intelligence for the Portland Cement Association (PCA), representing the USA's cement manufacturers, says the Federal Reserve's recent move to lower interest rates, coupled with an ease in inflation, signals a signicant retreat by the end of next year. This should all benefit construction activity. At PCA's annual fall meeting last week (Aurora, Colorado), Sullivan shared the industry's 2025 economic forecast with cement co... |
Buzzi completes sale of Ukraine operations to CRH15 October 2024, Published under Cement NewsFollowing the approval received from the local antitrust authority on 5 September 2024, Buzzi has completed the closing of the sale of its assets in Ukraine to CRH, which was signed on 20 June 2023. The sale price amounts to EUR0.1bn. In Ukraine, Buzzi has been operating two fully-integrated cement plants and two cement distribution terminals, in addition to ready-mix concrete plants in three cities. Total revenue for the full fiscal year 2023 amounted to EUR85.6m with an EBITDA of EU... |