Cement News tagged under: international
CeMAP warns of undervalued clinker cement imports18 May 2010, Published under Cement NewsCement makers in the Philippines fear the influx of undervalued imported clinker cement once the Board of Investments grants tax and fiscal incentives to cement projects based on imported clinker, a move that would kill the country’s lone integrated manufacturing industry. Ernesto M. Ordonez, president of the Cement Manufacturers Association of the Philippines (CeMAP), said in an interview that the move of the BoI to allow the registration of clinker based cement would spell doom to the lo... |
New Laos plant breaks ground17 May 2010, Published under Cement NewsTwo Chinese companies have made a joint investment to construct a cement plant with a production capacity of 200,000tpa in Nathong village, Namor district, Oudomsay province in Laos. A ground breaking ceremony for the plant was held on 9 May. The two companies invested US$16.3m in the construction of the plant, expected to be completed this year. Oudomsay province is characterised as base of industrial development for northern provinces. The new factory will supply the northern provinces... |
Tanga Cement posts profit, Tanzania17 May 2010, Published under Cement NewsTanzanian cement producer Tanga Cement Company, part of the Holcim group, posted a TZS30bn (US$21m) profit after tax last year. “Despite facing many challenges, we made a net profit after tax of TZS30bn which the same as in 2008,” board chairman Charles Naude told the company’s 16th annual general meeting in Dar es Salaam at the weekend. The board has recommended a dividend of KES179 per share to be paid at the end of this month. The TZS11.4bn to be paid to shareholders is 50 per cent mor... |
India: prices may fall 10% on excess capacity, monsoon17 May 2010, Published under Cement NewsIndia cement prices are expected to soften by 7-10 per cent in June due to the twin effect of over supply and lower demand due to the monsoon season, industry officials and dealers have warned. Cement companies have already taken steps by alerting dealers to prepare for the slow season which typically runs from June to September, as rain slows down construction activity and cement sales fall. The Economic Times spoke with industry executives and sector analysts who said cement prices are ... |
Vietnam unlikely to reach cement export of 1Mt this year17 May 2010, Published under Cement NewsVietnam Cement Industry Corp (Vicem) targets to reach 1Mt of cement export in 2010 but according to a report by IntellAsia this target is not achievable due to competition from Thai supplies. According to Nguyen Ngoc Anh, general director of Vicem said that the corporation now has 97 cement production lines with total designed capacity of 57.4Mt. By the end of 2010, a further 13 new lines with a capacity of 11.7Mt will be put into operation, Over the past five years, some cement companie... |
Alexandria Cement posts 17 per cent rise17 May 2010, Published under Cement NewsEgypt’s Alexandria Cement posted a 17 per cent rise in net profit to E£77.9m (US$13.90m) for the first quarter of 2010, the stock exchange said on Sunday. Government stimulus spending on infrastructure and growing demand for housing helped fuel a 25 per cent rise in cement demand in 2009, with total production topping 50Mt. The company, a subsidiary of Greek cement maker Titan Cement, says it plans to buy a 99.9 per cent stake in another Egyptian cement maker, Beni Suef Cement Co, whic... |
Surya Group to set up 5Mta plant in Gujarat17 May 2010, Published under Cement NewsHaving commenced production of its first factory in Gujarat of GI and API pipes with an investment of INR400 crore, the Surya Group plans to sign a memorandum of understanding (MoU) with the state government for a mega cement plant in Kutch district at the forthcoming Vibrant Gujarat Global Investors’ Summit (VGGIS) 2011. "We have already written a request letter to the Gujarat government for setting up of a 5Mt cement plant in Kutch district. We may also be signing an MoU in this regard ... |
Four banks extend loan to Modern Cement, Jordan17 May 2010, Published under Cement NewsA banking consortium, led by Arab Bank, on Saturday extended a JOD30m (US$42m) loan to Modern Cement and Mining Company (MCMC). Taking part in the consortium are Union Bank, Jordan Kuwait Bank and the Arab Banking Corporation. Arab Bank said in a statement that the financing, which coincides with another EUR50m loan provided by an international consortium led by HSBC Bank in London with the participation of Arab Bank in Europe, seeks to fund 65 per cent of machinery equipment for the cemen... |
ASCOM signs Saudi deal17 May 2010, Published under Cement NewsAsec Company for Mining, or ASCOM, said late Sunday it signed a deal worth SAR3m (US$800,000) with Hail Cement Co of Saudi Arabia. The deal requires ASCOM to carry out geological research for the Saudi company, ASCOM said in a statement on the Egypt stock exchange website. |
East Africa seeks higher tariffs for cement imports17 May 2010, Published under Cement NewsEast Africa’s cement producers are pushing for higher tariffs on imported brands, in a campaign that could spark off yet another diplomatic spat with Pakistan, a crucial partner in the tea and rice trade. The push for higher tariffs is in response to Pakistan’s decision to offer transport cost subsidies to its exporters, making it possible for bulky imports such as cement to favourably compete in East African markets. East Africa Cement Producers Association (EACPA), the manufacturers’ lo... |