Cement News tagged under: corporate
City Cement agrees settlement with Sinoma International18 December 2018, Published under Cement NewsCity Cement of Saudi Arabia has made a settlement with Sinoma International for payment of its second production line. The original contract was signed in June 2012 for a total of SAR970.63m (US$258.8m), but City Cement imposed a delay of eight per cent interest on the contract's final total of SAR43m. City Cement's second production line in Riyadh has a cement capacity of 1.9Mta. The final settlement with Sinoma International will appear on the 4Q18 earnings of City Cement. |
East Africa Portland Cement appoint new Chairman and Director18 December 2018, Published under Cement NewsThe East African Portland Cement Company (EAPCC) (LafargeHolcim group) has appointed Edwin Kinyua as its new Chairman and Director. Mr Kinyua replaces William Lay who had served as the Non-Executive Chairman since November 2014. Mr Kinyua was made chairman and director on 20 September 2018, but his appointment was only announced through local media this week. He previously worked as the Managing Director and Chief Executive of the Kenya Wine Agencies Ltd (KWAL). He has the challenge to tur... |
Ramco Cements to build a 3.15Mta plant in Andhra Pradesh17 December 2018, Published under Cement NewsIndia’s Ramco Cements has laid the foundation stone for a new 3.15Mta greenfield cement plant at Kalavatala, Kolimigundla Mandal, Andhra Pradesh. The environmental clearance has been received for the INR15bn (US$209.3m) project and the required mining lease is in place. Alongside the facility, the project will see the construction of a waste heat recovery system, thermal power plant and a 25km railway line from Sanjamala station. The plant is expected to be completed within 15 months of ... |
MI Cement sees 33% revenue rise in FY17-1817 December 2018, Published under Cement NewsBangladesh's MI Cement Factory reported a 33 per cent rise in revenue in FY17-18, compared to the previous financial year, supported by new capacity and market expansion. The company's total revenue reached BDT12.56bn (US$150m) in FY17-18, up from BDT9.44bn in the previous financial year. However, MI Cement's net profit fell by more than 52 per cent YoY to BDT315.6m on the back of rising administrative costs of selling and distribution. "The cost of goods sold (COGS) has increased by 39.... |
Domicem celebrates sustainable growth in 201814 December 2018, Published under Cement NewsDomicem highlighted its sustainable growth in 2018 as the company’s Managing Director, Adriano Brunetti looked back on the year during the company’s Christmas dinner. "I would like to remind you that in this year we have achieved important goals such as the construction of a photovoltaic energy park, whose work started at the end of 2017 and which we recently inaugurated," Mr Brunetti said. "This new facility is a structure conceived with the most advanced technology currently available, w... |
No reprieve for National Cement Company14 December 2018, Published under Cement NewsHisham Tawfik, Egypt's Minister of Public Business Sector, confirmed that the state-run National Cement Company (NCC) of Egypt will be shut down. NCC had closed after the public business sector ministry confirmed the difficulty of reforming the company's financial condition as it required investments of EGP1.5bn (US$873.5m). The cement producer's workers have been compensated with 180 per cent of their legal rights, added Mr Tawfik. |
Binani Cement changes name following acquisition14 December 2018, Published under Cement NewsBinani Cement has announced that it will be changing its name to UltraTech Nathdwara Cement Ltd, following the company’s acquisition by UltraTech on 20 November. UltraTech Cement’s capacity in the northern region will be enhanced to 24Mta, with the producer expected to become one of the strongest in the market. |
Ambuja Cement announces greenfield investment and CEO resignation13 December 2018, Published under Cement NewsThe Board of Directors of Ambuja Cements Ltd (LafargeHolcim group) has approved an initial investment of INR3,900m (US$54.1m) for the first phase of the 1.7Mta greenfield clinker line project at Marwar Mundwa in the State of Rajasthan, India. The Board of Directors of the company has also approved an additional clinker capacity of 1.4Mta (taking the total clinker capacity to 3.1Mta), additional cement grinding capacity of 1.8Mt and a captive power plan and waste heat recovery system at Ma... |
APO Cement resumes operation of kiln lines13 December 2018, Published under Cement NewsAPO Cement (Cemex) has resumed operation of its two kilns at its cement plant in the Philippines, two weeks after they were closed due to the unavailability of raw materials. The manufacturer will therefore reinstate the employees who were temporarily suspended, according to BusinessWorld. In addition, the company will no longer close its terminal in Davao City. |
Holcim Philippines contracts Huaxin for US$245m project13 December 2018, Published under Cement NewsChina’s Huaxin Cement has announced that it has been contracted to build and renovate cement production lines and supporting facilities for Holcim Philippines. The US$245m engineering, procurement and construction contract is expected to be fulfilled over a two-year period. It will see Huaxin build a 6000tpd production line, renovate an existing 3000tpd line and erect a 7MW waste heat power generation project. Huaxin will design, provide equipment, build civil works, install and debug equ... |