Cement News tagged under: international
Egypt cancels North Sinai cement licence16 December 2009, Published under Cement NewsEgypt has cancelled the licence of North Sinai Cement because of start-up delays, one of four company licences that were under review, the head of the Industrial Development Authority said on Tuesday. "A final decision to cancel North Sinai’s cement licence was certified today," the authority’s head, Amr Assal, told Reuters, adding that the three other licences were extended. "Necessary capital raising contracts and fundraising was not carried out by the company in a manner satisfying the ... |
Semen Padang to boost production, Indonesia16 December 2009, Published under Cement NewsIndonesian firm PT Semen Padang said it hopes to produce 6.1Mt of cement in 2010, up five per cent from this year’s target of 5.7Mt. The increase in target is based on growing demand by an estimated 6 per cent-8 per cent for cement in the world market in 2010, Widodo Santosa, the marketing director of the subsidiary of state cement maker PT Semen Gresik, said. Widodo said cement requirement in the country is also expected to surge to 40Mt next year from this year’s estimate of 35.2Mt. He ... |
Bamburi expects 2H profit growth to slow, Kenya16 December 2009, Published under Cement NewsBamburi Cement Ltd., the Kenyan unit of Lafarge SA, expects profit to slow in the second half of the year because it will be measured against a higher base period, Lafarge Regional President John Stull said. Annual profit is expected to grow at a slower rate than the first half, which had been compared to a low base after post- election violence in Kenyan in the first two months of 2008 hit the economy, Stull said in an interview in Athi River, south of the capital, Nairobi, today. The com... |
Sanghi hires Chinese firm to set up cement factory16 December 2009, Published under Cement NewsSanghi Cemtech group has contracted a Chinese consortium to put up its cement plant at Pokot and up-scaled its intended investment in Kenya to US$175m (KES13bn). The Chinese group made up of various engineering firms will also install a captive power plant at the Sanghi 650-acre site. The Indian Sanghi group, which holds 80 per cent stake in the Kenyan subsidiary, owns the world’s largest single stream cement plant with capacity of over 20Mt. "The consortium will manufacture, install and ... |
Fitch: China’s property market expected to stabilise in 201015 December 2009, Published under Cement NewsFitch Ratings has today said it is expecting a stable outlook on the Chinese residential property sector in 2010. In a special report published today, entitled ’China Residential Property Market Outlook 2010’, the agency states that heavy-handed policy measures in the sector are not expected in 2010 since any sharp correction in the property market may hamper overall economic growth. "However, Fitch believes there may be some fine tuning actions from mid-2010 when economic conditions are li... |
India: agitation against proposed cement plant continues15 December 2009, Published under Cement NewsLocals have further stepped up their agitation against the proposed INR2500-crore cement plant near Mahuva in Saurashtra region, following Gujarat government’s green signal to the project. "Local people and particularly farmers here are firm that they don’t want a Nirma group’s cement plant in the area. They feel that the State government has given a ’go ahead’ to the project against their wish," BJP MLA Dr Kanubhai Kalsaria, who led the agitation and was yesterday detained along with more ... |
Traders court politicians to back duty-free cement15 December 2009, Published under Cement NewsAgainst a backdrop of a biting cement deficit in East Africa, a clique of traders have their guns pointed at the industry with the intent of shipping in cheap imports. With the help of politicians, they argue the region is facing a major deficit that is hampering the full potential of the building and construction industry thus slowing down economic growth. The importers also say cement manufactured in the region is expensive and allowing imports could drastically reduce the cost of constr... |
India: stimulus withdrawal may impact cement sector in the short term15 December 2009, Published under Cement NewsThe Government’s stimulus package helped the cement industry ride over the challenges smoothly in 2009. But how will the coming year be? Will the new capacity additions hit price upsides and margins for the players? Ms Vinita Singhania, President, Cement Manufacturers Association (CMA) and Managing Director JK Lakshmi Cement, spoke to Hindu Business Line on the issues and outlook for the sector. Cement despatches have reported an over 8 per cent growth in 2008-09. What will be the annuali... |
Cement maker a year early reaching BEE target15 December 2009, Published under Cement NewsSouth Africa’s largest cement maker, Pretoria Portland Cement (PPC), has improved its empowerment status from a level 4 to a level 3 broad-based black economic empowerment contributor rating, beating its target by a year. The cement producer said yesterday that the rating, together with the highest preferential procurement recognition level in the cement industry of 138 per cent, reflected its commitment to transformation in the country. PPC said it had expected to reach the level three ta... |
South Korean firm involved new cement plant and housing project for Ghana15 December 2009, Published under Cement NewsSTX, the South Korean company which is to undertake a 200,000-unit housing project in Ghana, is making another huge foray into the housing sector with a plan to set up a cement factory to complement its real estate investment, estimated to cost US$10bn over a five-year period. Albert Abongo, Ghana’s Minister of Water Resources, Works and Housing, disclosed this to the Ghana News Agency (GNA) here over the weekend after returning from Seoul where he led a government delegation to seal the ho... |