Cement News tagged under: corporate
Al Wusta’s Duqm cement plant requires project finance15 August 2018, Published under Cement NewsOman’s Al Wusta Cement is currently looking for project finance from international for its Duqm cement plant project. Total project investment is estimated to be US$85m. Al Wusta, a joint venture between Oman Cement Co and Raysut Cement Co, is analysing project feasibility studies with the EPC process expected to start in the 4Q18. Procurement talks will begin soon after with equipment likely to be purchased from foreign equipment suppliers, according to Anil, project engineer at Raysut Ce... |
Gulf Cement Q2 profit falls 38%15 August 2018, Published under Cement NewsUAE cement producer Gulf Cement reported a 38.2 per cent fall in net profit attributable to shareholders to AED8.4m (US$2.29m) in the 2Q18 when compared with AED13.6m in the year-ago quarter. Total operating revenues during the second quarter decreased to AED108.8m, down 25.9 per cent from AED146.9m in 2Q17. |
Lucky Cement wins corporate award15 August 2018, Published under Cement NewsPakistan’s Lucky Cement Ltd has won the Best Corporate Award in the Sugar & Cement category at the Best Corporate and Sustainability Report Awards. The award ceremony was jointly organized by the Institute of Chartered Accountants of Pakistan (ICAP) & Institute of Cost and Management Accountants of Pakistan (ICMAP). The award represents the Company’s commitment to having the best corporate practices and governance, reflected by stringent policies for IT, whistle-blowing, social responsibilit... |
CCNN appoints new managing director15 August 2018, Published under Cement NewsCement Company of Northern Nigeria has named Yusuf Binji as its new managing director, with effect from 1 September 2018. He succeeds Ibrahim Aminu who joins the larger BUA group as an executive director. Mr Binji is currently managing director of Obu Cement Co, a subsidiary of BUA Cement in Okpella, Edo state, Nigeria – a position he has heard since February 2017. “As managing director at BUA Obu Cement, he was responsible for overseeing extensive growth in production volumes and sales, ... |
Argos sees 2Q profit slide but notes improved 1H net income14 August 2018, Published under Cement NewsColombia's cement market leader, Cementos Argos, saw revenues advance by 1.4 per cent to COP2.184trn (US$727m) in the 2Q18 from COP2.154trn in the year-ago period. Operating EBITDA fell by 11.2 per cent to COP328.3bn in 2Q18 when compared with COPCOP369.7bn in April-June 2017. In addition, Cementos Argos reported a 59.7 per cent drop in net profit to COP29.4bn in the April-June 2018 quarter, when compared to 2Q17. The company attributed the decline to a deceleration of construction markets... |
Shree Cement to set up 3Mta grinding plant in Cuttack14 August 2018, Published under Cement NewsShree Cement is setting up a 3Mta cement grinding unit at Chandrabali village, Shyampura, in Cuttack district of Odisha. The INR452,550m (US$2m) facility is being constructed by Petron Engineering Construction. The scope of the contract includes civil work of plant building, silos and miscellaneous work for the project. Chief Minister of Odisha, Naveen Patnaik, performed the ground breaking ceremony in 2017. The project is expected to generate employment opportunity for 243 people Comm... |
Arabian Cement profit soars 197% in 1H1814 August 2018, Published under Cement NewsEgypt's Arabian Cement posted a 196.6 per cent hike in consolidated profits to EGP212.76m (US$11.89m) in 1H18 from EGP71.71m in 1H17, the company said in a filing to the Egyptian Exchange. Revenues advanced to EGP1.64bn at the end of June, compared with EGP1.22bn in 1H17. Standalone profits surged to EGP213.3m in the first half of 2018, up from EGP71.51m in the year-ago period. |
Hsing Ta Cement reports stable net profit14 August 2018, Published under Cement NewsTaiwanese cement producer Hsing Ta Cement saw its revenues advance 29.7 per cent to TWD1.748bn (US$56.8m) in the 2Q18 from TWD1.348bn in the year-ago period. Pretax profit more than doubled from TWD206.304m in the 2Q17 to TWD440.058m one year later. The company’s net profit remained largely stable at TWD125.366m (2Q17: TWD126.441m). |
Chettinad Cement to be evicted off government land14 August 2018, Published under Cement NewsChettinad Cement Corp Ltd has been ordered to vacate government land that it encroached upon to construct a railway track to its Ariyalur railway track. The Madras High Court passed the judgement with Justice SM Subramaniam also ordering a probe into government officials involved in colluding with factory management to use the land. "Such industries cannot encroach upon government land, which is not only a water body, but also used as a pathway by the villagers and the people of that loca... |
Asia Cement Corp sees 167% rise in 2Q net profit14 August 2018, Published under Cement NewsTaiwan's Asia Cement reported a 37.6 per cent increase in revenues to TWD22.425bn (US$728.2m) in the April-June 2018 quarter from TWD16.298bn in 2Q17. Pretax profit was up by 174.9 per cent from TWD2.469bn in the 2Q17 to TWD6.788bn in 2Q18 while net profit surged by 167.9 per cent to TWD4.33bn in the 2Q18 from TWD1.616bn in the year-ago period. |