Cement News tagged under: corporate
India: UltraTech commissions Pataliputra plant06 June 2016, Published under Cement NewsUltraTech Cement has commissioned its 15th cement grinding unit at Pataliputra cement works, Maksudpur Pargana, dist. Patna, Bihar in 1Q16. The unit will cater to the markets of Eastern India. After commissioning of this unit, the company’s cement capacity stands at 69.3Mta, including the overseas operations. The completion of this project and others during the year ended March 2016 has seen the company adding 6.1Mta through greenfield expansions. Meanwhile, UltraTech Cement is plannin... |
Nigeria: Dangote begins construction of Itori-Ibese road06 June 2016, Published under Cement NewsDangote has begun construction of a network of concrete roads in Nigeria, beginning with a 24km stretch linking Itori and Ibese in Ogun state, Leadership reports. Speaking at the inauguration of the first road, Aliko Dangote said that concrete roads offered a means to address the infrastructural challenges faced by African nations. Dangote said: “We have also recently been finally awarded the contract to reconstruct the 42km Obajana-Kabba Road in Kogi State, in concrete. The estimated ... |
India: Ambuja Cement to expand Rupnagar grinding plant06 June 2016, Published under Cement NewsAmbuja Cement has announced that it plans to upgrade the capacity of its grinding plant in Rupnagar in Punjab by 0.9Mta, taking its output to 3.4Mta. The project, which is estimated to cost just INR10.5m (US$156,071), is to be achieved through process optimisation and it is not anticipated that the upgrade plant will require more power than the 15.8MW it currently has access to. In March Ambuja Cement announced that it would spend US$599m building a new integrated works and two new gri... |
India: Talavadi Cement plans new plant06 June 2016, Published under Cement NewsTalavadi Cements, a subsidiary of Birla Corporation, is planning an integrated cement plant at Bari village, district, Satna, Madhya Pradesh. The plant will manufacture 2Mta of clinker and 3Mta of cement and will have a 35MW captive power plant and an 8MW waste heat recovery system. JM Environet is the environmental consultant. The project is waiting for environmental clearance, but land acquisition is in progress. The estimated cost of the project is INR29.55bn (US$440.8m). |
Cemex Holdings Philippines set for record IPO03 June 2016, Published under Cement NewsCemex Holdings Philippines Inc has obtained regulatory approval to launch an initial public offering (IPO) worth PHP39.74bn (US$854.3m), which could be the largest stock market debut in the country. Cemex intends to use proceeds for repayment of up to US$504m of short-term loan from a related party. The debt was incurred in connection with the acquisition of operating subsidiaries—Apo Cement Corp and Solid Cement Corp —as part of a reorganisation. The Securities and Exchange Commi... |
Sri Lanka: LafargeHolcim to exit market03 June 2016, Published under Cement NewsLafargeHolcim is to sell its operations in Sri Lanka - a bagging plant, a grinding plant and the island's only integrated facility - as part of its wider divestment strategy, EconomyNext reports. At least three local firms are though to be interested in bidding for Holcim Lanka, which generated 1.7Mt of sales in 2015 with revenues of LKR23.4bn (US$158m). |
Burkina Faso: CIMAF begins construction of second plant03 June 2016, Published under Cement NewsCiment d’Afrique (CIMAF), a subsidiary of Morocco’s Addoha Group, has begun the construction of its second cement plant in Burkina Faso, the North Africa Post reports. The grinding plant, located in Bobo-Dioulasso, is being constructed for a cost of around €25m (US$28m) and will have a capacity of 0.7Mta when it is completed, in about 18 months’ time. CIMAF has an existing 0.5Mta plant in the capital, Ouagadougou. The new plant will mainly produce for the local market, but the company ... |
Saudi Arabia: Hail Cement resumes production02 June 2016, Published under Cement NewsHail Cement Company has resumed production after a stoppage for scheduled maintenance. According to the company's statement on the Saudi Stock Exchange Tadawul,” the financial impact of the stoppage will be reflected on the results of the second quarter of 2016. The cement firm previously announced that the production line was going to stop for annual maintenance for the furnace and the cement raw-materials' mill, between 23 and 31 May 2016. |
Hong Kong: Allied cement proposes name change02 June 2016, Published under Cement NewsAllied Cement aims to improve its core competitiveness and the Board believes that the proposed change of company name to Tongfang Kontafarma Holdings Ltd would better reflect the expansion of the group’s business scope and diversified operations. The Board is of the view that the proposed name change is in the best interests of the company and the shareholders as a whole, and provide the company a new image. |
Falling profits in South America, Egypt and Portugal hit Cimpor results01 June 2016, Published under Cement NewsCimpor has reported a first-quarter turnover 28.7 per cent lower at EUR454.1m and EBITDA fell by 35.1 per cent to EUR80.1m. The trading profit (EBIT) dropped by 51.9 per cent to EUR35.6m. The net financial charge edged ahead by 0.7 per cent to EUR75.8m to give a pretax loss of EUR40.3m, compared with EUR1.3m a year earlier. At the net attributable level there was a loss of EUR40.7m, compared with a loss of EUR17.2m a year earlier. The net debt was 10 per cent lower at EUR3,170m, but the gear... |