Cement News tagged under: corporate
JSW Cement secures funds for expansion plans03 October 2022, Published under Cement NewsJSW Cement has secured a INR4000m (US$48.9m) sustainability-linked loan from MUFG Bank India to finance the company’s cement capacity expansion plans, according to The Economic Times. JSW aims to increase capacity from its existing 17Mta to around 25Mta by FY24-25. This marks the third time JSW has sought funds in the last 15 months, have previously raised INR1000m from the State Bank of India in December 2021 and INR15,000m from Apollo Global and Synergy Metals Investments in July 2021. |
Kingsblue and Haver & Boecker announce plant management platform partnership03 October 2022, Published under Cement NewsKingsblue and Haver & Boecker will be partnering up and providing an integrated experience for clients using Kingsblue’s Plant Management Platform (PMP). As a leading provider of digitalisation software applications for streamlined plant and spare parts management, Kingsblue work hard at creating a product that is the perfect addition to every operator’s digital tool box. Haver & Boecker is known for their strength in machinery and high technology equipment. With Haver & Boecker,... |
Birla plans US$1bn investment in new capacity30 September 2022, Published under Cement NewsBirla Corp is planning to invest around US$1bn to increase cement production capacity from 20Mta to 30Mta over the next eight years. According to Harsh V Lodha, chairman of Birla Corporation, the capacity additions will be the result of greenfield and brownfield projects as well as debottlenecking exercises across its entire portfolio, reports The Hindu. The company is reportedly considering a new 4Mta integrated greenfield plant in Chhattishgarh, along with a further 4Mta through a bro... |
Ramco Cements commissions new 2.25Mta plant30 September 2022, Published under Cement NewsIndia’s The Ramco Cements Ltd has commissioned its fifth integrated cement plant at Kolumigundla, Kurnool District, Andhra Pradesh. The INR30,000m (US$366m) works has a clinker capacity of 2.25Mta and will serve the markets of Andhra Pradesh, Karnataka, Tamil Nadu, Maharashtra and Madhya Pradesh, according to The Hindu. The plant has a 12.15MW waste heat recovery (WHR) system, 6MW of which will be commissioned in October 2022 with the remaining coming on stream in 2023. The project als... |
Steppe Cement sees 65% surge in 1H post-tax consolidated profit30 September 2022, Published under Cement NewsSteppe Cement has announced a consolidated profit after tax of US$10.2m for the six months ended 30 June 2022, up 65 per cent YoY. The Kazakstan cement producer’s gross margin in the 1H22 edged up from 44 to 46 per cent in US$ terms on the back of cement price increases . Selling expenses per tonne (in US$ terms) were down 20 per cent YoY in the 1H22 due to increased sales to markets located closer to the company’s cement plant. However, production costs increased by 11 per cent in ... |
Adani Group announces US$100bn investment plan29 September 2022, Published under Cement NewsThe Adani Group plans to invest US$100bn over the next decade, according to its owner Gautam Adani. The group’s most recent investment was its US$6.5bn acquisition of Ambuja Cements Ltd and ACC Ltd , instantly making it the second-largest cement producer in India. Around 70 per cent of the planned US$100bn investment is destined for the energy transition market, along with defence, metals and petrochemicals, reports Mint. "As a group, we will invest over US$100bn of capital in the nex... |
Saint-Gobain acquires GCP Applied Technologies29 September 2022, Published under Cement NewsSaint-Gobain has acquired all of the outstanding shares of GCP Applied Technologies for US$32/share, in cash, in a transaction valued at approximately US$2.3bn. GCP will delist from the New York stock exchange. The business combination has been unanimously approved by the Boards of Directors of Saint-Gobain and GCP Applied Technologies respectively. “Saint-Gobain is an ideal strategic partner with a worldwide presence in the construction chemicals market,” said GCP Applied Technologies. ... |
PT Semen Indonesia reports 2% drop in 1H revenues29 September 2022, Published under Cement NewsPT Semen Indonesia saw a 2.1 per cent slip in total revenues to IDR15.876trn in the 1H22 when compared with the year-ago period. The company attributed the decrease mainly to lower sales volumes, which were down by 12 per cent YoY to 16.957Mt. Domestic sales volumes were down 2.6 per cent YoY to 13.972Mt as demand contracted due to the Lebaran holidays after a two-year gap during the pandemic and a shift in spending priorities by local people. Regional sales volumes fell by 39.2 per cent... |
Ciments de Bizerte reports TND12m loss in 1H2229 September 2022, Published under Cement NewsTunisia-based Ciments de Bizerte posted a loss of TND11.9m (US$3.6m) in the first half of 2022 when compared with a profit of TND1.3m in the 1H21. The company’s operating result is a loss of TND7.2m in the 1H22 when compared with a profit of TND6.8m in the 1H21. Revenues were down to TND57.8m in the 1H22 from TND72.3m in the year-ago period. The company has attributed the fall due to a decline in both domestic and export markets. In addition, the company saw a 56 per cent rise in petco... |
LafargeHolcim Morocco reports 27% drop in 1H net income28 September 2022, Published under Cement NewsLafargeHolcim Maroc posted a 27 per cent YoY drop in net income to MAD759m (US$69.5m) at the end of June 2022. Consolidated turnover stood at MAD4004m, level with the year-ago period as the company faced unfavourable market conditions and a sharp rise in input prices. Operating income was down 17 per cent to MAD1464m as fossil energy prices surged and were only passed on to prices partly. In addition, the increase in social contributions to MAD176m also impact the group’s 1H22 result. ... |