Cement News tagged under: international
China to buld US$90m cement factory in Mozambique20 May 2010, Published under Cement NewsChina will build a US$90m (Euro72m) cement factory in Mozambique, a spokesman said on Wednesday, the latest in a string of investments around Africa. The China Development Bank is financing the factory in Beluluane, outside the capital Maputo, the spokesman for the Mozambican Centre for Investment Promotion, Evaristo Cumbane, told AFP. "Construction on the factory will start in the next few days and produce 500,000t of cement a year," Cumbane said. China is the number one investor in Afri... |
Work begins on Vietnam’s biggest cement project20 May 2010, Published under Cement NewsKinh Bac Urban Development Corp and its affiliate Sai Gon – Tan Ky Cement Joint Stock Co began construction of a US$1.5bn cement industrial zone on May 19 in the central province of Nghe An. Occupying a 600ha area in Tan Long Commune, the Sai Gon – Tan Ky cement industrial zone will be the country’s largest of its kind and is expected to churn out 14Mta of cement when fully operational. The zone’s first phase, costing VND1.5trn (US$78.9m), will take six years to complete. "The new zone wi... |
HeidelbergCement expands in Africa20 May 2010, Published under Cement NewsHeidelbergCement and IFC, a member of the World Bank Group, signed an agreement to support the development of local infrastructure in Sub-Saharan Africa by increasing the local supply of cement. Eventually, as much as US$180m might be injected in what will remain a minority participation. One of the first uses of the additional funding will be to increase the cement milling capacity in Liberia. Further projects under consideration include additional cement investments in Ghana, Togo and Gabo... |
Philippines: Tondo fire razes cement factory19 May 2010, Published under Cement NewsSome PHP1m worth of properties went up in smoke during a 14-hour fire that struck a cement factory compound at the Manila Harbour Centre in Tondo, Manila last Monday afternoon. Firefighters valiantly fought the fire, which started at 12:58 p.m., Monday, for almost 15 hours as it gobbled up a pile of some 7,000 old vehicular tyres stored at the Taiwan Cement Corporation (TCC) compound inside the Manila Harbour Centre at the North Harbor in Tondo. “It was very difficult because the area... |
Business Council calls for support on imports, East Africa18 May 2010, Published under Cement NewsThe Arusha-based East African Business Council has asked the EAC governments to support local cement manufacturers now that the latter is facing major threats from imports. "Our governments need to support local producers if the industry is to compete favourably with imported cement," read a statement from Mr Godwin Muhwezi Bonge, the EABC communications officer. According to his statement, local cement industry is currently grappling with increased competition from imported cement from co... |
PCA: Collaborative bill addresses many concerns, raises others18 May 2010, Published under Cement NewsThe energy and climate legislation released last week by Senators John Kerry (D-Mass.) and Joe Lieberman (ID-Conn.) addresses several issues important to maintaining a strong domestic manufacturing sector. According to the Portland Cement Association (PCA), however, it does not go far enough to balance protecting the environment and with maintaining American jobs. “We appreciate the Senators’ efforts to work with industry throughout the drafting of the bill, and will continue to express ... |
TCC International plans US$297m rights issue, Taiwan18 May 2010, Published under Cement NewsCement producer and distributor TCC International said it planned to raise HK$2.307bn (US$297.3m) by way of a rights issue, raising capital to repay debt financing in a bid to enhance its financial position. The company said it would issue 1.098 million rights shares in the proportion of one rights share for every two shares held at HK$2.10 each, a 27.1 percent discount to the previous close. The shares closed at HK$2.88 last Friday prior to a trading suspension on Monday. Trading in the s... |
Titan improves in Egypt & Turkey, domestic market weaker18 May 2010, Published under Cement NewsGreek cement producer Titan saw first quarter turnover decline by 7.1% to EUR286.1m while the EBITDA suffered slightly less, easing by 5.1% to EUR61.2m. At the pre-tax level the profit reduction shrunk by 3.9% drop to EUR21.2m but the net attributable profit actually increased by 16.2% to EUR24.8m, helped by a US tax credit against the period’s losses. With the completion of most of the new production facilities in Egypt and in Albania, capital investment in the period dropped by 63.1% to ... |
Titan appoints new finance director18 May 2010, Published under Cement NewsGreece-based Titan has announced that it ahs appointed Vasilios Zarkalis as its new finance director. Zarkalis previously served as executive director for group business development and has extensive business and cross functional experience both in Greece and abroad. |
Chinese investors to build cement factory in Mozambique18 May 2010, Published under Cement NewsThe China Development Bank is to fund construction of a cement factory in Beluluane, in Mozambique’s Maputo province costing US$100m, the director of the Centre for Investment Promotion said Monday in Maputo. Mohamed Rafique said that construction work on the cement factory, a project promoted by Chinese investors that have obtained funding from the China Development bank via the China-Africa Development Fund, could begin within the next few days and that next week a government team would... |