Cement News tagged under: corporate
Mindanao region poised for higher cement demand12 July 2018, Published under Cement NewsCurrently in the Philippines, there are about 60 nationwide infrastructure development projects related to Build, Build, Build scheme and about 14 of these are in Mindanao. Most of those in Mindanao are still in the feasibility study stages and may start construction by next year. Mindanao Development Authority (Minda) Assistant Secretary, Romeo Montenegro, said as there are no apparent shortages yet, there is also a continuing rise in the demand for cement and steel. They have yet ... |
ARM negotiating US$120m loan deal with IFC12 July 2018, Published under Cement NewsARM Cement Ltd of Kenya is trying to reach an agreement with the International Finance Corp about a capital injection of US$120m in loans, acccording to ARM's Chief Executive Officer, Pradeep Paunrana. "Nobody just gives you US$120m without conditions," Mr Paunrana said. "We are in discussions, it is not a facility, it is a term sheet. There are conditions attached to this." The main conditions include a return to profitability and getting an equity investor during the next nine to 12 mont... |
Former Vicem general director dismissed from executive comittees12 July 2018, Published under Cement NewsTran Viet Thang, former general director of the Vietnam Cement Industry Corporation (Vicem), has been dismissed as member of the Executive Committee of the Central Businesses’s Party Unit and member of the Executive Committee of Vicem's Party unit. Thang has been found guilty of several legal violations as well as breaking Party rules. Tran Viet Thang took control of Vicem, the country's leading cement producer, in September 2013, but the state-owned company had built up VND4trn (US$175.2m)... |
Steppe Cement 1H18 volumes rise by 14%11 July 2018, Published under Cement NewsIn the 1H18 Steppe Cement Ltd sold 738,228t of cement for KZT10,539m (US$30.7m), compared with 650,333t of cement for KZT8553m in 1H17. This represents an increase of 14 per cent in volume and an increase of 23 per cent in turnover over the same period in 2017. The average price for the current period for delivered cement was KZT14,276/t (ex VAT), compared with KZT13,151/t in the corresponding period of 2017. The ex-factory price for the current period was KZT11,560/t, compared with KZT11,... |
Thayet cement plant to become PPP11 July 2018, Published under Cement NewsThe Ministry of Industry (MoI) in Myanmar is inviting 'expressions of interest (EoIs)' from both local and foreign investors to jointly run the state-owned Thayet cement plant in Magwe region under a public-private partnership (PPP), said U Zaw Lin Tun, deputy director of No 2 Heavy Industrial Enterprise under the MoI. Operations have been suspended at the Thayet works, which has been a loss-making plant due to poor technology and its reliance on gas for power has also been an issue, said U... |
Chinese producers expect significant rise in 1H18 net profit10 July 2018, Published under Cement NewsChina’s Huaxin Cement has announced that it expects 1H18 net profit to rise 179-192 per cent YoY, compared to CNY728m (US$109.94m) of the year-ago period, according to Reuters. Elsewhere in the country, Jiangxi Wannianqing Cement has also announced that it expects a significant surge of 440-490 per cent YoY in net profit for the period. |
ARM asks for time after missing bond payment10 July 2018, Published under Cement NewsThe Nairobi Securities Exchange-listed that the ARM Cement missed its June 2018 interest payment on a privately placed bond worth tens of millions of Kenyan shillings. The bond was issued in 2015 with the medium-term notes (MTN) maturing in November 2020 and expected to pay interest each June and December, according to the Business Daily. "We're asking our lenders to give us some time so that we can recapitalise the business, we're in negotiation for injection of between US$15m and US$20... |
CEO of Hail Cement resigns10 July 2018, Published under Cement NewsSaudi Arabia's Hail Cement Co has announced that its CEO, Matar Alahrani, has resigned from his position with effect from 30 August 2018, due to moving to a new position. The company's board of directors have noted their appreciation for Mr Alahrani's efforts since the company’s inception, according to a press release. |
Birla White to increase exports09 July 2018, Published under Cement NewsIndia’s Birla White, a division of UltraTech Cement Ltd, has announced plans to increase exports over the coming years. "Currently, the volume is just about three per cent of our total volumes but over the next three to five years, we are targeting 10 per cent of the total volume," said Anurag Angrish, joint executive president (marketing), Birla White. Furthermore, the company expects to release four new products within two years. "The new products will again induce demand for white ... |
Pokot Cement still waiting to get off the ground09 July 2018, Published under Cement NewsThe continued delay in establishing the Pokot Cement factory in Kenya, is infuriating local residents who expect to benefit from new job opprotunities. Today, prime land in the area whose value had risen, no longer attracts the interest of potential buyers, with the township remaining largely inactive. West Pokot County Executive Committee member for trade, Monges Lotodo, said the authorities sought audience with the Ministry of Mining a month ago concerning the delayed plant. "We have co... |