Cement News tagged under: corporate
BUA Cement looks to finance 6Mta expansion project31 August 2022, Published under Cement NewsBUA Cement is in talks with US-based International Finance Corporation (IFC) to raise funds through a loan to expand its cement facility, the company said in a statement to the Nigerian stock exchange. The funding aims to expand the capacity of the company’s integrated cement plant in Kalambaina, Sokoto , to 8Mta from 2Mta and develop other ancillary utilities. In a recent statement, BUA Cement Chairman, Abdul Samad Rabiu, said that the ongoing projects will be completed in 2023 t... |
UltraTech commissions 1.3Mta Dalla expansion31 August 2022, Published under Cement NewsUltraTech Cement Ltd announced the commissioning of the 1.3Mta expansion to its Dalla Cement Works in Uttar Pradesh, India. As a result, the plant’s cement capacity is now 1.8Mta and the company’s total capacity in India is 115.85Mta. |
East African Portland Cement sells land plots to squatters31 August 2022, Published under Cement NewsEast African Portland Cement (EAPCC) has started a process of selling land parcels to squatters who have been living on its Athi River property. The cement maker has made an offer to the squatters to pay KES100,000 (US$832.6) for a beacon certificate and another KES500,000 within a year to purchase a plot of land measuring 40ft by 80ft (12 x 24m). The cash-strapped firm has commenced the land sale and regularisation process of three parcels measuring 709 acres (287ha). The EAPCC’s sale ... |
Grasim Industries announces US$392m capex30 August 2022, Published under Cement NewsIndia’s Grasim Industries, part of the Aditya Birla Group , is planning capex of INR31,170m (US$391.9m) in its existing lines of business this fiscal year, primarily for the creation of new capacity and modernisation of existing plants. This compares to INR19,580m in the previous fiscal. According to Kumar Mangalam Birla, chairman of Grasim Industries, the investment does not include the group’s paints and B2B e-commerce businesses. In January 2021 Grasim announced plans to enter the pai... |
Cherat Cement Co’s net profit rises 39% YoY30 August 2022, Published under Cement NewsCherat Cement Co Ltd (CHCC) announced its annual financial results for the year ended 30 June 2022 (FY21-22), on 25 August 2022, by declaring of net profit of PKR4.45bn (US$20.3m), which was increased by 39 per cent YoY, as compared to PKR 3.2bn in the same period last year. Net sales during the reporting period advanced by 27.3 per cent to PKR 32.08bn in FY21-22 from PKR 25.20bn during the same period last year, said a company bourse filling to Pakistan Stock Exchange (PSX). It incu... |
Ciment du Maroc reports 5% rise in turnover30 August 2022, Published under Cement NewsHeidelbergCement Group -owned Ciments du Maroc posted a five per cent increase in turnover to MAD1.8bn (US$170.7m) in the 2Q22 from MAD1.7bn in the 2Q21. In addition, the company increased its investments by 195 per cent YoY to MAD160m as a result of the construction of its 0.7Mta Nador plant in northern Morocco. The facility is expected to come on-stream in the 3Q22. |
Bamburi Cement posts 88% drop in 1H profits29 August 2022, Published under Cement NewsKenya-based Bamburi Cement Ltd reported a profit of KES95m (US$0.79m) for the January-June 2022 period, 87.7 per cent down from KES776m in the 1H21. However, the group posted a revenue of KES20.1bn, up 2.6 per cent YoY from KES19.6bn in the 1H21. The company has attributed the decrease to high operational costs with operating profit in the 1H22 almost five times lower at KES210m when compared with KES1.17bn in the 1H21. “The Group’s earnings were significantly hit by a jump in direct pr... |
Al Jouf Cement sees profits tumble 92% in 1H2229 August 2022, Published under Cement NewsSaudi Arabia’s Al Jouf Cement Co has reported a 19.2 per cent YoY fall in revenue to SAR98.29m (US$26.2m) in the first half of 2022. Net profit after zakat and tax tumbled 92 per cent over the same period to SAR1.82m, compared to SAR25.7m in the 1H21. According to the company, the fall in profit was due to lower sales volumes along with reduced domestic selling prices. The second quarter of 2022 saw a 7.9 per cent YoY decline in revenue to SAR49.48m. Net profit after zakat and tax fell... |
Dongwu Cement sees revenue fall 26% in 1H2229 August 2022, Published under Cement NewsChina's Dongwu Cement International Ltd has reported revenue of CNY177.8m (US$25.9m) in the first half of 2022, down 25.7 per cent on the same period a year earlier. In terms of gross profit, a loss of CNY13.5m was seen in the 1H22, compared to a profit of CNY45.6m in the 1H21. According to the company, disruptions arising from the COVID-19 pandemic and subsequent quarantine measures had a significant adverse impact on the group’s revenue and financial performance over the six-month period.... |
Cementos Concepción starts commissioning new plant29 August 2022, Published under Cement NewsParaguay’s Cementos Concepción (CECON) has started commissioning its new 1.01Mta plant in Concepción, San Lázaro, by commencing crushing limestone to be used in the full production process. The works has a 430tph crusher. "This start-up was completely successful, it is very important because officially the teams are ready and begin to work with real material with which the entire production chain of the plant begins," said Alexander Gonzalez, CeCon project manager. The crushed limestone ... |