Cement News tagged under: expansion
Caribbean Cement secures loan to pay US$ debt12 December 2018, Published under Cement NewsJamaica's Caribbean Cement Co Ltd and its mining subsidiary have secured a five-year JMD3bn (US$23.53m) loan from National Commercial Bank Jamaica to pay back a US dollar debt. The amount will be repaid in Jamaican dollars at a rate of 7.45 per cent per annum. The company also has stated that some of the funds will be used for general corporate purposes, according to The Gleaner. Its mining subsidiary, Jamaica Gypsum and Quarries Ltd, a borrowing partner of the loan, is also about to expan... |
JSW Cement to look at inorganic growth11 December 2018, Published under Cement NewsIndia's JSW Cement has announced that it will be looking at inorganic expansion to reach its target of increasing capacity to 20Mta by 2020. The ongoing bad-loan resolution process has opened up opportunities to acquire cement assets in India. The company views the assets of debt-laden companies to have a strong potential to grow, while enabling swift scaling and optimisation of these capacities, according to a statement. "The company views the improving economic growth scenario, continu... |
Ramco Cements to spend INR8.5bn on plant expansion27 November 2018, Published under Cement NewsIndia’s Ramco Cements is investing INR8.5bn (US$120m) to increase capacity at its facility in Jayanthipuram, Andhra Pradesh, by 1.5Mta and construct a 27MW WHR system. The project is part of an overall expansion plan for the company. "Currently, we have cement grinding capacity of 16.5Mta, which we plan to take to 20Mta by March 2020," said A V Dharmakrishnan, CEO of Ramco Cements. The plan would see its Kolaghat, Visakhapatnam and Odisha grinding units each expanded by nearly 1Mta, accord... |
A new wave of Asian overseas expansion?05 November 2018, Published under Cement NewsThis week CemNet reported on the announcement that Taiwan Cement is creating a new subsidiary, Dutch TCC Holdings, investing up to US$1.1bn in the new company. Dutch TCC Holdings is expected to enter a joint venture in Turkey with Ordu Yardimlasma Kurmu (Oyak) Holding, which will hold a 60 per cent share, while Dutch TTC Holdings will account for the balance of shares. TCC has acquired 40 per cent fo the shares of Oyak Çimento for a total value of US$640m. Oyak is reported to be willing t... |
Germany: spending spree ahead?02 November 2018, Published under Cement NewsThe need for Germany to begin spending its accrued budget surplus on infrastructure projects and housing is starting to weigh heavily on the new government. The cement industry has invested and is able to increase output. Will the public purse strings be loosened? HeidelbergCement’s Burglengenfeld plant in Bavaria is just one of several German cement plants that have carried out upgrades to improve production efficiency and reduce the environmental impact of their operations ... |
JSW Cement's growth plans03 October 2018, Published under Cement NewsThis week ICR reported on JSW Cement's project to construct a new 1.2Mta grinding plant in Kalinganagar Industrial Complex in Jajpur, Odisha, India. The Indian cement company has been expanding rapidly in recent years from its start-up in 2009 and this summer it also announced that it will be setting up its first overseas grinding unit in Fujairah, UAE . Both these projects are scheduled to be completed by the end of 2019, by which time the Portland slag cement producer aims to have a ... |
JSW Cement's growth plans28 September 2018, Published under Cement NewsThis week ICR reported on JSW Cement's project to construct a new 1.2Mta grinding plant in Kalinganagar Industrial Complex in Jajpur, Odisha, India. The Indian cement company has been expanding rapidly in recent years from its start-up in 2009 and this summer it also announced that it will be setting up its first overseas grinding unit in Fujairah, UAE . Both these projects are scheduled to be completed by the end of 2019, by which time the Portland slag cement producer aims to have a ... |
Lafarge Africa receives shareholder approval for NGN90bn rights issue27 September 2018, Published under Cement NewsLafarge Africa has received shareholder approval to raise NGN90bn (US$246.93m) of capital through a rights issue and to restructure its short-term shareholder loan. “The additional capital to be raised will further help to deleverage the company’s balance sheet and provide head room for the expansion of our business,” said Mobolaji Balogun, chairman of the board, Lafarge Africa. Michel Puchercos, CEO, stated that the company’s refinancing plan is aimed at preparing for future developme... |
Power Cement secures investment for plant upgrade05 September 2018, Published under Cement NewsArif Habib Corporation Ltd (AHCL) has called extra ordinary general meeting on 26 September to make an additional investment of US$11m in Power Cement Ltd (PCL), an associated undertaking of the corporation. PCL aims to install components/machinery to make its plant more energy efficient, according to a notification on the Pakistan Stock Exchange (PSX) on 4 September . This guarantee amount by AHCL will enable PCL to negotiate a better deal with the potential supplier as AHCL will ens... |
Akhangarancement begins construction of 3Mta kiln line17 August 2018, Published under Cement NewsAkhangarancement, a subsidiary of Eurocement (Russia), has started preliminary stages of the construction of a new dry process 3Mta kiln line in Uzbekistan. Construction is moving into the active phase with the construction site ready for large-scale works. At the same time, cement production at the existing kiln lines will continue at full volume. A new generation substation has been installed for the existing technological line to keep production going, and the construction of a new subs... |