Cement News tagged under: international
Shree Cement plans Rajasthan clinker unit10 March 2010, Published under Cement NewsShree Cement is planning to set up a clinker unit in Rajasthan with an investment of INR3.50bn, a senior offical said. The clinker is expected to start production by November-December 2010, Shree Cement Managing Director HM Bangur, told Reuters. "It will be near our existing unit in Pali district of Rajasthan," he said. “By the end of the financial year (FY11) our capacity is expected to be around 13Mt, at present capacity 10Mt," he added. On Wednesday, Shree announced it had commissioned... |
Brazil: CSN to set up three cement plants10 March 2010, Published under Cement NewsCSN Cimentos, the cement arm of the steel major CSN, plans to set up three plants in Brazil each with a 1Mta capacity, to be based in the Northeast, Centre West and South regions. CEO Benjamin Steinbruch believes the move would give CSN a size similar to Cimpor in Brazil. This translates to a 6Mt and a 10% share of the national cement market. |
India Cements in fund raising mode for expansion09 March 2010, Published under Cement NewsWith buoyancy back in the market and cement prices looking up, South India’s largest cement player, India Cements (ICL) is in a fund raising mode. Sticking to its capex of over INR1100 crore, the company said it will require funds for expansion and to set up captive power plants. To start with, Indo-Zinc (IZL), which was recently acquired by ICL has tied up a Rs 300 crore credit from Yes bank at an interest rate of 10%, for which ICL has provided corporate guarantee. This will be used to p... |
Ethiopia not bringing in any imports09 March 2010, Published under Cement NewsThe government of Ethiopia is not importing any cement despite rising prices in recent days because of power cuts that have forced factories to reduce production, Arkebe Okubay, state minister of Works and Urban Development (MoWUD) told Fortune. Twelve million quintals of cement, worth US$90m, was imported by the ministry during the past year. This came to an end on February 8, 2010, because the state and private cement factories were expected to meet the local demand by producing at full c... |
Sephaku signs mandate with Nedbank Capital09 March 2010, Published under Cement NewsNew entrant in the South African cement market, Sephaku Cement, has appointed Nedbank Capital as lead arranger of the ZAR1.8bn project finance facilities required for the development of the company’s new Aganang and Delmas cement projects. The company, in which JSE-listed Sephaku Holdings owned a 80.2% interest, would be spending R3,3-billion on the construction of a 2.2Mta cement facility, near Lichtenburg, in North West province, and a 1.2Mta grinding facility in Delmas, in Mpumalanga pro... |
Semen Gresik 2009 net profit up09 March 2010, Published under Cement NewsPT Semen Gresik’s 2009 net profit rose 28% because of an increase in sales, its chief executive said Tuesday. "Net profit for the full year of 2009 rose to IDR3.2trn, supported by strong sales," Dwi Sutjipto told Dow Jones Newswires Sales rose to IDR14trn from IDR12.2trn in the previous year. Sutjipto expects net profit in 2010 to increase by at least 10% and sales to rise by 19%. |
EAPCC privatisation begins to take shape, Kenya09 March 2010, Published under Cement NewsThe planned privatisation of East Africa Portland Cement Company (EAPCC) and electricity generating company, KenGen, began to take shape with the invitation of advisers, pointing to a scramble for the contracts among legal and financial advisory firms. The Privatisation Commission said Friday that it’s looking for specialists to carry out valuations and offer counsel on the best way for the government to sell part of its stakes in the firms. It’s not certain whether EAPCC and KenGen will b... |
Binani moves into real estate market, India09 March 2010, Published under Cement NewsBinani Cement — the flagship company of the Binani Group — is getting into commercial real estate development in order to cash in on its idle land bank and to reduce dependence on the cyclical nature of the cement business. The company has decided to develop an information technology park jointly with a partner on 56 acres of land it has in Thane near Mumbai. The construction work will start in a few months and the project is expected to be completed by next year, said a person close to the... |
Lafarge reaches a deal to strengthen position in Brazil08 March 2010, Published under Cement NewsLafarge agreed on Friday to swap a stake in Portuguese rival Cimpor for plants in Brazil, a move that will help it become the third-largest producer of the material in the South American nation. Lafarge gave up its 17.3 per cent stake in Cimpor in exchange for the three facilities, which were owned by Votorantim Cimentos, it said in a statement. Cimpor was the target of a takeover battle between Votorantim and Brazilian rivals Camargo Correa and CSN. In addition to the plants, Votorantim... |
Vietnam: Bim Son starts new production lines08 March 2010, Published under Cement NewsBim Son Cement Company started early this week operation of new production lines with cement capacities of 2Mta and 5500tpd of clinker The new production lines, with a total investment of VND4.39trn (US$231m), used advanced and modern equipment, technology and operation systems imported from Japan and Europe. The production lines would raise the company’s total capacity to 4Mta of cement. |