Cement News tagged under: corporate
Nigeria: Dangote signs US$2bn Chinese bank loans for two cement plants13 April 2016, Published under Cement NewsDangote Group has signed a deal on Tuesday for a US$2bn loan from the Industrial Commercial Bank of China Ltd for two cement plants, according to Reuters. “The interest rate is okay, quite favourable with me,” Dangote said, without elaborating. “It’s for my two cement companies that we are establishing in Nigeria.” The deal included China Export & Credit Insurance Corporation. |
Tanzania: Tanga Cement suffers profit decline12 April 2016, Published under Cement NewsTanga Cement Co Ltd's 2015 profit fell to TZS8.24bn (US$3.774m) compared to TZS28.40bn (US$13m) in 2014, according to the national paper the Daily News. The audited financial results state that the group experienced a decline in sales revenue of 9.9 per cent to TZS209.11bn compared to TZS232.10bn in the preceding year. The fall was mainly attributed to the increased competition from new entrants to the market which put downward pressure on sales prices and volumes. In addition, at the ... |
Breedon Aggregates passes phase 1 of Hope acquisition12 April 2016, Published under Cement NewsBreedon Aggregates acknowledges the announcement today by the Competition and Markets Authority (CMA) that it has completed its Phase 1 review of Breedon’s proposed acquisition of Hope Construction Materials Limited (“Hope”) and that it has concluded there is a realistic prospect of a substantial lessening of competition in a limited number of local ready-mixed concrete markets in England and Scotland. In a company statement the building materials company stated "This outcome is in line wit... |
Kenya: Vipingo facility to make Mombassa Cement more competitive12 April 2016, Published under Cement NewsAfrican cement companies are eyeing the market created by a construction boom in east Africa and other countries in the larger region, according to All Africa news service. At the top of the companies looking to grab a share of an increasing market is Kenya's Mombasa Cement Ltd, which plans to invest KES7.3bn (US$73m) to expand the factory's production capacity. The new clinker and cement unit is expected to ease pressure on prices, which dropped to US$7/50kg bag from US$8 in 2014. The ... |
Paraguay: Vallemi fuel conversion civils to start May12 April 2016, Published under Cement NewsThe civil work related to the fuel conversion of the kiln at the Vallemi plant of Paraguay’s Industria Nacional de Cemento (INC) is scheduled to start in May, said CEO Jorge Méndez. The works will include the construction of a new coal unloading facility, concrete foundations for equipment and electro-mechanical structures. Local firm CIE was awarded the US$15m contract. Around half of the equipment has now arrived in Paraguay, he added. The company purchased some 150,000t to tie over ce... |
Tunisia: Carthage Cement turnover up 43% in 1Q1612 April 2016, Published under Cement NewsTunisian cement producer Carthage Cement posted a 43 per cent rise in turnover to TND53.472m (US$26.78m) in 1Q16 when compared with the equivalent quarter of 2015. Sales were strong in both domestic and export markets. Tunisian deliveries reached TND31.366m, up 33.4 per cent YoY, and increased the company’s market share to just under 18 per cent (2015: 14 per cent). Exports rose by 51 per cent to TND8.605m, increasing its export market share from 12.4 per cent to 18.2 per cent in 1Q16. ... |
Nigeria: Work commences on Dangote’s Okpella plant11 April 2016, Published under Cement NewsA groundbreaking ceremony for the construction of a new cement plant has been held as part of celebrations to mark Aliko Dangote’s 59 th birthday. The News Agency of Nigeria reports that the new plant, in Okpella in southern Nigeria, is projected to cost US$1bn and will have a capacity of 6Mta. In its 2015 annual report Dangote Cement said that the new plant would be half this size, with a still-considerable capacity of 3Mta. The increased capacity plans at Opkella reflect Dangote’s c... |
Thailand: Italcementi to keep ASEAN base11 April 2016, Published under Cement NewsThailand will continue to be Italcementi Group's production base in ASEAN and its base for expanding into Myanmar after HeidelbergCement acquires Italmobiliare's 45 per cent stake in Italcementi in July, group Chief Executive Officer, Carlo Pesenti, said in an interview with The Nation. "Since Italmobiliare and HeidelbergCement signed an agreement regarding the sale to HeidelbergCement of Italmobiliare's 45 per cent stake held in Italcementi in July last year, we have discussed the poli... |
Chinese to build plant in Chhattisgarh11 April 2016, Published under Cement NewsJinyuan Cement Co Ltd, a subsidiary of Hong Kong Jinyuan International Development Ltd, is proposing a new cement plant in Chhattisgarh, India. “The company inked a memorandum of understanding (MoU) with the state government in Shenzhen (China) and announced to invest US$1bn to set up a cement plant in Chhattisgarh,” Subodh Kumar Singh, secretary commerce and industries, said. According to officials, the Chinese firm’s officials would visit the country to complete the remaining formali... |
Qassim Cement profits fall 17% in 1Q1611 April 2016, Published under Cement NewsSaudi Arabia’s Qassim Cement saw its profits drop 16.8 per cent YoY to SAR135.4m (US$36.1m) from SAR162.7m. The fall in profits has been attributed to an increase in cost of sales which was unable to offset the rise in sales value and volume during the first quarter. |