Cement News tagged under: international
Shiva Cement to invest in capacity expansion02 December 2009, Published under Cement NewsOrissa-based Shiva Cement is planning to expand its production capacity by 0.66Mt in its existing 2.3Mt at an investment of INR163.5 crore to meet the region’s rising demand. The company proposes to fund the project with a term loan of INR 80 crore while the remaining amount is expected to arrange through internal accruals. The company also proposes to come out with a rights issue or preferential allotment of equity shares in near future. Cement demand in the eastern zone during the quarte... |
Freeport plans to build Papua’s first cement plant02 December 2009, Published under Cement NewsGiant copper and gold miner PT Freeport Indonesia has plans to build Papua’s first cement plant next year. “The new factory would be built as part of the company’s corporate social responsibility program to support infrastructure development in Papua,” Industry Minister MS Hidayat said on Monday. Half of the factory’s expected annual production capacity of five million tons would be sold on the local market, and Freeport would use the remainder, Hidayat said. The US$150m factory would be b... |
Cemex plans to sell dollar bond as early as next week02 December 2009, Published under Cement NewsCemex plans to sell benchmark dollar bonds in international markets as early as next week after the company was forced to scuttle a US$500m issue in March amid a surge in borrowing costs. Cemex will begin marketing the seven-year bond to investors on Dec. 3, said a person familiar with the offering who declined to be identified because the terms aren’t set. Citigroup Inc., Barclays Plc, Bank of America Corp. and JPMorgan Chase & Co. are arranging the transaction, which will be callable afte... |
Siam Cement says 18 operations halted by court02 December 2009, Published under Cement NewsSiam Cement, Thailand’s top industrial conglomerate, said 18 of its 20 industrial projects at the Map Ta Phut industrial estate would be suspended after a court ruling on environmental concerns. The 18 projects, mostly petrochemical operations, involved a total investment of THB57.5bn (US$1.74bn), Siam Cement said in a statement late on Wednesday. A court halted the bulk of new projects at the estate, home to the world’s eighth-biggest petrochemicals hub, on Wednesday due to environmental ... |
Finance officials may block Hanson sale to Dankner02 December 2009, Published under Cement NewsNochi Dankner may not be able to buy the building materials giant Hanson Israel after all. The IDB group, which is controlled by Dankner and the Livnat family, sought to buy Hanson for NIS 450 million. Hanson is Israel’s second-biggest source of building materials. In an official opinion, Udi Nissan - the budget director at the Finance Ministry - wrote to Antitrust Commissioner Ronit Kan that the acquisition could be anticompetitive. Allowing IDB, which owns a number of construction and in... |
India: Shiva Cement to invest INR163cr on capacity expansion01 December 2009, Published under Cement NewsOrissa-based Shiva Cement is planning to expand its production capacity by 0.66Mt in its existing 2.3Mt at an investment of INR163.5 crore to meet the region’s rising demand. The company proposes to fund the project with a term loan of INR80 crore while the remaining amount is expected to arrange through internal accruals. The company also proposes to come out with a rights issue or preferential allotment of equity shares in near future. Cement demand in the eastern zone during the quarter... |
India: JSW to restart work on two projects01 December 2009, Published under Cement NewsThe JSW Group, which was among the first conglomerates last year to hold back most of its major capital expenditure and greenfield projects due to the global financial crisis, has decided to revive two projects estimated to over INR2000 crore together, encouraged by an improvement in the overall manufacturing sector. The Mumbai-based group will resume work on a INR1500 crore, 5Mt cement plant that it had put on the backburner after doubts were raised last year about cement consumption, af... |
USA: Rapid City cement plant to cut 21 positions01 December 2009, Published under Cement NewsGCC Dacotah is reducing its work force by 21 employees at the Rapid City cement plant, workers were told Wednesday. Three of those positions will be lost through attrition, and the rest in a layoff, said one of the laid-off workers, who declined to give his name, saying talking to Rapid City Journal could affect the terms of a severance package. The loss represents about a fifth of the plant’s work force, the employee said. The plant also laid off workers in August 2008, shortly after GCC ... |
Semen Gresik aims to generate IDR3.28 trillion profits30 November 2009, Published under Cement NewsPT Semen Gresik Tbk targets to grow net profit this year by 30 percent or into IDr3.28 trillion as from the IDR2.52 trillion achievement last year. President Director of Semen Gresik Dwi Sutjipto said the target is expected to reach by bolstering the cost efficiency and operational performance amidst the robust position of the company in national cement markets. "Semen Gresik now possesses 45 percent national cement markets. This year, our net profit is targeted to increase by 30 percent a... |
Andhra Pradesh cement prices hit rock bottom, India30 November 2009, Published under Cement NewsCement prices have hit a low in Andhra Pradesh, one of the largest markets in the country, and some other States due to slackening demand and entry of new players. The price range of cement now ranges between Rs 140 and Rs 170 (ex-godown price) across States and in some regions (like Andhra Pradesh), it even dipped to Rs 125-135 band, according to the industry sources. “The fall in the prices is unprecedented and compared to same period last year, the price is down by over 20 per cent, eve... |