Cement News tagged under: international
Holcim adds 5.6Mt of new capacity this year12 November 2009, Published under Cement NewsHolcim’s turnover for the first nine months fell by 18.4% to SFr15,774m (€10,446m), which represents a 10.3% reduction on a like-for-like basis. The operating EBITDA was down by 17.2% to SFr3,614m (€2,393m), which was less of a percentage reduction than a year ago. The trading profit fell by 24.3% to SFr2,337m (€1,548m) while the net attributable profit dropped by 47.3% to SFr1,200m (€795m). Net debt at the end of September was 14.2% lower at SFr12,905m (€8,546m), giving a gearing level o... |
IFC mulls investment in Vicat-Sagar cement plant12 November 2009, Published under Cement NewsThe International Finance Corporation (IFC), the private financing arm of the World Bank, may invest about INR450 crore in a 5.5Mt Vicat-Sagar Cements project in Chatrasala village, Gulbarga, Karnataka. IFC is looking at an investment, in the form of a combination of debt and equity or quasi-equity, in the range of $75-90m approx INR 345 - 414 crore. Most likely, the investment will be in the form of debt or structured debt. The Rs 2,500 crore-plant is jointly developed by Hyderabad based ... |
TCL, Argos battle for market share12 November 2009, Published under Cement NewsAntigua and Barbuda officials are anticipating lower prices for cement after the Colombian cement giant, Cementos Argos, said it was prepared to battle the regional cement manufacturer, Trinidad Cement Limited (TCL), for control of the market here. Both companies have responded to a government announcement that Antigua had secured permission from the Council for Trade and Economic Development (COTED) to source cement from other external sources, thereby opening the way for competition. At ... |
Vietnam sales set for seasonal surge11 November 2009, Published under Cement NewsCement consumption in Vietnam this month is expected to increase by roughly 10 per cent over October thanks to rising demands during construction season, the Ministry of Finance’s Pricing Management Department forecast. The department said that cement prices were also expected to surge in the wake of a 25 per cent hike in the cost of coal. The coal price hike was estimated to lift cement production costs by roughly 4.2-5 per cent. According to the Viet Nam Cement Association, the country l... |
Shiva Cement’s dispatches rise by 81.4%, India11 November 2009, Published under Cement NewsShiva Cement, a Rourkela-based cement company, today announced the dispatch of cement and clinker during the period Apr -Oct, 2009. Its dispatches grew by 81.4% on YoY basis in comparison to Apr -Oct, 2008. It further informed that the figures are not exactly comparable since the plant was closed during Sept. and Oct, 2008 for undertaking modernization capex. |
East Africa: imported cement threatening local sector11 November 2009, Published under Cement NewsLow cost imported cement is choking the regional industry, according to a report in the Uganda Monitor. The reduction in import tariff on cement has led to an influx of cheap cement from low cost producers such as India, China, and Pakistan sold at 50 - 60 per cent less than the domestic market price since producers in these countries enjoy a lower production cost. The Executive Director of East African Business Council, Mr Charles Mbogori, said the influx of cheap cement imports from coun... |
Jamaica to appeal rejection of cement import request11 November 2009, Published under Cement NewsJamaica will appeal the rejection of its application to the CARICOM Council for Trade and Economic Development (COTED), for a suspension of the Common External Tariff (CET) on 120,000t of cement it is seeking to import from outside the region. Minister of Industry, Investment and Commerce, the Hon. Karl Samuda, made the announcement Tuesday (November 10) at a media briefing at his Ministry, New Kingston. He said that, in addition, the country will be requesting a review of the provisions o... |
My Home plans to raise cement output to 10Mt11 November 2009, Published under Cement NewsAimed at gearing up to next boom in infrastructure and realty sectors in the country, the Hyderabad-based My Home Industries Ltd plans to more than double its capacity to 10Mt in five years, said its chairman and managing director, J. Rameswar Rao. My Home, one of the largest cement manufacturers in Andhra Pradesh, now has a capacity of 4.7-m tons. Rao said the company plans to initially double the capacity of its slag cement facility to 3-m tons at Visakhapatnam to cater to markets in the ... |
GCC likely to face cement glut by 201111 November 2009, Published under Cement NewsThe GCC’s annual cement capacity will cross the 120Mt mark by 2011, glutting the market with the product, according to a recent report from Global Investment House (GIH). The GCC project market, which rose from $300 billion (Dh1.1 trillion) in 2004 to $2.67trn in Q1 of 2009, declined to $2.1trn as of Q3. "Within the planned projects, 25 per cent have been put on hold. As per our calculations, even if 75 per cent projects continue as per plan and of these even if 40 per cent are constructio... |
Slowdown in earnings expected for Indian cement firms11 November 2009, Published under Cement NewsThe robust growth in net profit in the second quarter seems unlikely to be repeated soon for Indian cement companies, as prices in the south and west have been falling since October, with the increase in supply outstripping demand. According to a cement analyst at IIFL Research, price cuts have become a daily occurrence in the southern markets, but are stable in central region. In Gujarat, price declines have accelerated, as supplies originally intended for exports have been diverted to the... |