Cement News tagged under: infrastructure
Malaysia: Tasek Corp full-year profit ahead18 February 2015, Published under Cement NewsTasek Corporation Bhd's net profit rose 11.86 per cent to MYR105.4m (US$29.1m) compared to MYR93.90m a year earlier despite heightened competition. Revenue rose to MYR656.06m compared to MYR121.04m in 2013. The Malaysia based cement producer attributed the better to performance to higher domestic cement demand and improved ready-mix concrete prices. “The ongoing mass rapid transit projects and light rail transit line extensions are expected to continue leading the construction sector’s gro... |
Raysut full-year profit dips, Oman09 February 2015, Published under Cement NewsRaysut Cement reported full-year net profit of OMR27.42m (US$71.22m), 0.4 per cent lower than the OMR27.52m posted in the previous year. Revenue rose 1.1 per cent to OMR94,29m from OMR93.29m, according to a company filing with the Muscat Securities Market on Thursday. A research note by Gulf Baader Capital Markets (GBCM) said the company’s revenue was in line with estimates but earnings was below its forecast of OMR28.8m. According to GBCM, group sales volumes came in at 3.8Mt but ... |
PCA applauds Obama for included infrastructure spend in proposed budget04 February 2015, Published under Cement NewsThe Portland Cement Association (PCA) applauds President Barack Obama for including substantial funding for the nation's 'crumbling' infrastructure in his 2016 proposed budget plan. In a statement released yesterday the Association said it has long supported a nationwide plan that would address highways and transportation structures, which are vital to the daily lives of the American public. Key to taking on this large construction project is utilising resilient construction techniques that... |
Indonesia: a return to higher ground?16 January 2015, Published under Cement NewsAs Indonesia’s cement sales growth disappointed last year, the industry is hoping a revival of government infrastructure spending will help overcome recent challenges and return demand levels to higher ground. From strong double-digit growth rates experienced in the 2011-12 period, Indonesian cement volume expansion has been slowing over the past two years. Latest industry figures show that Indonesian cement sales increased by just 3.6 per cent in 2014, dragged down by higher interest rat... |
India: NHAI supported highways to use cement02 January 2015, Published under Cement NewsUnion Transport Minister Nitin Gadkari said all new highway projects supported by National Highway Authority of India (NHAI) will use cement concrete. Gadkari said that the current rate of cement per bag is about INR350 (US$5.53), but his Ministry has located a supplier who will sell cement at INR120/bag (US$1.89/bag), excluding taxes and transport. The Maharashtra Government and local municipal bodies have also been advised to use the cheaper cement, he said. Gadkari said that the planned... |
Lafarge Malaysia contract win and new mill purchase positive30 December 2014, Published under Cement NewsLafarge Malaysia’s recently-awarded MYR254m (US$72.6m) concrete supply contract and its purchase of a cement mill from Lafarge Ciment (Romania) are being viewed as positive for the company by Hong Leong Investment Bank (HLIB). The research house said the five-year contract to supply the Refinery and Petrochemicals Integrated Development project and other Petronas-related projects in Pengerang, Johor, is in line with its positive outlook on the company. Meanwhile, the mill and ancillari... |
Cement Association of Canada applauds government's renewed Gas Tax Fund20 November 2014, Published under Cement NewsThe Cement Association of Canada (CAC) applauds the Government of Canada and the Minister of Infrastructure, Communities and Intergovernmental Affairs and Minister of the Economic Development Agency of Canada for the Regions of Quebec, the Honourable Denis Lebel, for delivering on the government's commitment to support local infrastructure priorities with the renewed Gas Tax Fund. The CAC commends the Fund's focus on core civic infrastructure projects, as this will contribute to the social ... |
Cemex: helping to build a Greater Britain19 November 2014, Published under Cement NewsIn the past 18 months, Cemex has been an integral part of some of the most important infrastructure projects in the UK with a direct impact on its residents’ quality of life, from an airport terminal, to upgrading London’s 150-year-old sewage system, to a remote onshore energy plant. “Cemex focuses on markets where we can sustain long-term profitable growth, and fulfill our responsibilities as a corporate citizen,” said Cemex CEO Fernando A Gonzalez. “We are pleased to be able to make a pos... |
India: cement producers target government road projects20 October 2014, Published under Cement NewsHigh-ranking representatives of 17 cement manufacturers promised road transport minister, Nitin Gadkari, that their companies would put in lower bids to encourage development projects, according to the Times of India Group. The ministry has now invited bids asking manufacturers to quote the lowest price ex-factory price that they can offer to road developers. Soon after taking charge of the ministry, Gadkari had proposed long-term contracts with cement majors across the country to purchase... |
Tasek 2Q revenue lifted by domestic cement sales07 August 2014, Published under Cement NewsTasek Corp Bhd reported a 20.78 per cent rise in revenue for the second quarter, driven by higher demand for cement in its domestic market of Malaysia. Revenue for the three months to the end of June 2014 reached MYR171.5m, compared with MYR142m a year earlier. The company said that the higher revenue was mainly due to higher domestic demand, while its concrete unit recorded an operating loss due to lower sales volumes which were partly offset by higher average selling prices. "Sales v... |