Cement News tagged under: international
ASEC Ready Mix begins operations, Egypt26 May 2010, Published under Cement NewsASEC Cement announced today that it has launched operations at ASEC Ready Mix, which will have points of presence in the Upper Egyptian cities of Minya, Assiut and Qena. ASEC Ready Mix is a joint-venture between ASEC Cement, a Portfolio Company of Citadel Capital’s ASEC Holding, and Misr Qena Cement. It has an annual capacity of more than 200,000m3 of concrete. “This EGP43m project is an outstanding partnership with Misr Qena that will create some 100 new jobs in Upper Egypt while suppl... |
Republic Cement declares cash dividend, Philippines25 May 2010, Published under Cement NewsRepublic Cement, in its disclosure to the Philippine Stock Exchange, declared a P0.12 cash dividend for all shareholders on record as of June 10, 2010. The dividend is payable on July 5, 2010. Republic Cement was incorporated on May 3, 1955 to primarily engage in the manufacture, development, exploitation and sale of cement, marble and all other kinds and classes of building materials, and the processing or manufacture of materials for any industrial or commercial purposes. Its plants ar... |
Bangladesh: SC advises conditional clearance for Lafarge25 May 2010, Published under Cement NewsThe Supreme Court has advised the Ministry of Environment and Forests, Government of India, to consider a conditional clearance to Lafarge, to recommence mining operations in Meghalaya for supply of limestone to its cement plant in Bangladesh. However, the court has not lifted the stay on mining. It is expected that Lafarge may be able to resume mining by consenting to pay INR500crore over the lifetime of the project for the benefit of local tribal communities. |
Galchev receives loan, Russia25 May 2010, Published under Cement NewsSberbank has loaned about US$700m to Filaret Galchev, owner of Russia’s largest cement producer, to pay off debt he used to buy his former partner’s stake in Eurocement Holding, Vedomosti reported Monday, citing sources familiar with the matter. Galchev paid US$600m to Pavel Krotov, who bought Galchev’s debt from Grigory Krasnyansky, his former partner, the newspaper reported. Krasnyansky in 2007 agreed to sell his stake to Galchev for US$1bn, it said. Source: The Moscow Times |
Prosperity Minerals to buy 25% stake in Liaoning Changqing25 May 2010, Published under Cement NewsProsperity Minerals Holdings Ltd,which manufactures and sells cement in China, said Monday it has entered into a conditional sale and purchase agreement with Liaoning Yan Zhou Zhu Xing Cement Co. to purchase a 25% equity interest in Liaoning Changqing Cement Co for a consideration of CNY100m (US$14.64m). Liaoning Changqing, which is presently undergoing production trials for a new cement works, was established as an equity joint venture between Prosperity and the vendor in 2007, holding a ... |
JK Lakshmi Cement eyes acquisition, Egypt - report25 May 2010, Published under Cement NewsJK Lakshmi Cement, a Delhi-based cement manufacturer and the flagship company of Hari Shankar Singhania Group, is in talks with an undisclosed Egyptian cement firm for acquisition. Local press report that the deal, which is believed to be of around INR800 crore, is expected to be closed by the end of this calendar year. The target company has a capacity of 2Mta. The acquisition, if materialises, will help JK Lakshmi tap the growing Middle East market. Source: India Infoline.com |
ASEC & TAQA Arabia inaugurate Sudanese power project25 May 2010, Published under Cement NewsASEC Cement and TAQA Arabia, both companies of Citadel Capital, the leading private equity firm in the Middle East and Africa, announced today the official inauguration of Berber for Electrical Power. Berber for Electrical Power’’s 42MW power generation operation is now providing all of the electricity needs of Takamol, ASEC Cement’’s 1.6Mta greenfield cement plant in Sudan, under a 20-year offtake agreement. Takamol is located 14km west of Fahalb on the west bank of the River Nile. Fift... |
Nepal: Dang cement factories to replace 60 per cent of imports24 May 2010, Published under Cement NewsThe two mega cement factories preparing to commence productions in Nepal within next one and a half years have said that they can replace more than 60 per cent of total cement imports once they start production. Ghorahi Cement Industry (GCI) located in Gogli of Laxmipur VDC is preparing to start productions from June 2011, while Sonapur Cement Factory (SCF) in Dushrash too has declared of commencing operations in three months. Once into operations, the two firms have claimed they will tog... |
Philippines: building materials costly21 May 2010, Published under Cement NewsPrices of select construction materials in the National Capital Region, or Metro Manila, increased at a faster rate last month than in March, the National Statistics Office reported earlier this week. Specifically, the annual growth rate of the retail prices of these materials rose to 2.5 per cent in April from 1.4 per cent in March. Month on month, the retail price index of these materials rose to 0.6 per cent in April from no growth in March. Higher annual price increments were recorded ... |
India: coal shortage slows down cement expansion21 May 2010, Published under Cement NewsExpansion of cement production capacities in the southern states is likely to be slower than expected due to shortage in coal supplies, the main fuel. The backlog demand from cement plants for additional coal has already crossed 2Mt with Singareni Collieries Company Limited (SCCL), the state-owned coal mining company which is the major suppliers to cement plants in the southern states. Various cement plants have written to the coal ministry seeking for more coal from SCCL. However, SCCL, h... |