Cement News tagged under: Weekly Newsletter
Adani Group in discussions to raise US$4.5bn13 June 2022, Published under Cement NewsFollowing its acquisition of Holcim’s business in India, the Adani Group is in discussions with more than a dozen foreign banks in a bid to raise US$4.5bn. According to The Economic Times, this marks one of the largest loan-based fundraisings in foreign currency by an Indian corporate entity. The proposed loan structures include mezzanine financing, stock-backed bridge loans to be repaid in cash, and a senior debt facility for 18 months. The mezzanine financing may raise US$1bn, while the... |
Lucky Cement plans Karachi renewable energy project13 June 2022, Published under Cement NewsLucky Cement Ltd has informed the Pakistan Stock Exchange (PSX) that the Board of Directors of Lucky cement, in its emergent meeting on 11 June 2022, has authorised the management of the company to undertake a feasibility study for a renewable energy project at its cement plant in Karachi, including wind and solar power. General Manager Finance and Company Secretary of Lucky Cement, Faisal Mahmood, in a bourse filing, stated that the Lucky Cement was one of the earliest cement companies... |
Steppe Cement increases capex for 2022-2313 June 2022, Published under Cement NewsKazahstan’s Steppe Cement plans to invest US$7m in capex in 2022 and the first half of 2023. Among the projects outlined is the completion of the new separator for cement mill 1 to increase slag content and cement production, and reduce electricity consumption, as well as starting the new separator for cement mill 2. The raw mill 3 separator will be revamped to increase production on Line 6, along with modifications to the Line 6 preheater. Bag filters are to be updated, software for the con... |
Polysius wins CI4C order for oxyfuel system at Mergelstetten09 June 2022, Published under Cement NewsThe research company CI4C (Cement Innovation for Climate), founded by the four cement manufacturers Dyckerhoff GmbH ( Buzzi Unicem SpA ), HeidelbergCement AG , Schwenk Zement GmbH & Co KG and Vicat SA , has commissioned thyssenkrupp's Polysius business unit to build a polysius ® pure oxyfuel kiln system on the site of Schwenk Zement's Mergelstetten cement plant in southern Germany. The polysius ® pure oxyfuel process is a new type of clinker production process in which the other... |
Lafarge Zimbabwe sells majority stake in its operations08 June 2022, Published under Cement NewsLafarge Zimbabwe is selling 76.45 per cent of its business to Fossil Mines Pvt Ltd. The Holcim group member announced on Monday that it was selling the majority stake in its business. This is a further sale for Holcim following recent divestments decisions taken in India for ACC Ltd and Ambuja Cements. The Manresa cement plant has a cement capacity of 0.45Mta and employees 800 people directly. There is currently a 0.5Mta expansion project being constructed at the plant. |
UltraTech Cement to invest INR128,860m for 22.6Mta capacity expansion07 June 2022, Published under Cement NewsThe Board of Directors at UltraTech Cement (Aditya Birla group) has approved capex of INR128,860m (US$1659m) to raise cement capacity by 22.6Mta with a mix of brownfield and greenfield projects. This will be achieved by setting-up integrated and grinding units as well as bulk terminals. The additional capacity will be created across the country. Kumar Mangalam Birla, chairman, Aditya Birla Group, said, “This ambitious capacity expansion plan is a significant milestone in the ongoing... |
Star Cement invests in new capacity07 June 2022, Published under Cement NewsStar Cement is planning to invest INR17,000-18,000m (US$218.9m-231.8m) over the next two years, in response to robust demand from the infrastructure and real estate sectors. The company currently operates two clinker units in Meghalaya with a total capacity of around 2.75Mta. A new clinker unit, costing INR10,000m, will add a further 3Mta of clinker capacity taking total production capacity to 5.75Mta. According to BusinessLine Online, the new unit is due to be operational by April 2024. ... |
Cemex inaugurates Climafuel facility at Rugby works06 June 2022, Published under Cement NewsCemex ’s cement plant in Rugby, UK, will operate fully on alternative fuels (AF) following the inauguration of its new Climafuel facility. This significant investment aims to enable the plant to eliminate the use of fossil fuels, producing carbon savings equivalent to the annual emissions of more than 135,000 cars. Climafuel is a waste-derived fuel made using residual and commercial waste that would otherwise go to landfill. Rugby is the first Cemex plant to achieve this 100 per cent AF mil... |
Ecuador completes first cement export contract01 June 2022, Published under Cement NewsEcuador has exported cement for the first time, delivering 32,660 to of cement in 16,330 Bigbags to Peru, according to a local news service. The consignment was supplied at the end of April to position Holcim Ecuador as bulk cement exporter in Latin America and diversify its export value offer. The shipment was made possible by an investment of US$2.2m to expand infrastructure and implement the project. |
Eagle Cement Corp 1Q net profit slips 3%26 May 2022, Published under Cement NewsPhilippines-based Eagle Cement Corp reported a three per cent decrease in net income to PHP1.66bn (US$31.674m) in the first quarter of 2022 from PHP1.72bn in the equivalent period of 2021. The company’s sales advanced 30 per cent from PHP5.3bn in the 1Q21 to PHP6.83bn in the 1Q22 as historically high quarterly sales volumes combined with higher average cement prices. In addition, its subsidiary Solid North Mineral Corp contributed extra revenue. Gross profit was PHP2.59bn, up 11 per ce... |