Cement News tagged under: international
India: cement companies to add 31Mt capacity in second half20 October 2009, Published under Cement NewsAdditional cement capacities of nearly 31Mt (across 33 projects) are expected to be commissioned in the second half of this fiscal at an investment of INR7963 crore (US$172.5m). These projections have been made by ProjectToday, which tracks ongoing investment activities in diverse sectors. Mr Shashikant Hegde, Chief Executive Officer, ProjectsToday, said the first half had seen investments of INR2080 crore for an additional 10.99Mta. Of the 45 projects scheduled for commissioning this fis... |
Vietnam: demand for cement and steel to increase20 October 2009, Published under Cement NewsThe demand for cement, steel and other construction materials will surge sharply in the fourth quarter, but prices will remain unchanged or even drop, forecast industry insiders. The Vietnam Cement Association had previously warned that cement producers might lift prices due to a 25 per cent hike in the cost of coal, a main fuel for the industry. But, so far, cement prices have remained stable. Vietnam Cement Corporation deputy director Tran Viet Thang said that cement producers may hold t... |
Nigeria: Lafarge acknowledges government’s support20 October 2009, Published under Cement NewsLarfage Cement WAPCO Plc on Wednesday admitted that the Ogun State government has contributed immensely to the progress made so far on the ongoing Lakatabu Expansion Project. Jean-Christophe Barbant, the Country Manager of the company, made the disclosure during a visit to the state governor, Gabenga Daniel at the Government House, Abeokuta. Mr. Barbant said the project has recorded appreciable progress, adding that his company would continue to count on the support of the government to br... |
India: cement firm accused of illegal mining in Junagadh19 October 2009, Published under Cement NewsThe Gujarat-based company was served notice for unauthorised quarrying of limestone on 320ha, worth as much as INR640 crore (US$13.8m) in government royalty. A leading cement company has been accused of illegal limestone quarrying in Junagadh district over three years. The Junagadh collector recently issued notices to the cement company as also farmers who had leased the land for the purpose without permission. According to the notice, the Gujarat-based company quarried lime... |
India: Roongta Mines plans cement plant in Orissa19 October 2009, Published under Cement NewsIt is reported that iron ore mining firm Rungta Mines Limited, the flagship company of SR Rungta Group, has announced its plans to set up 1Mt cement plant in the Indian state of Orissa. The company will invest around INR600 crore (US$12.9m) in the setting up of the plant. Mr Siddharth Rungta president of Rungta Mines said that “Cement project is currently in the evaluation stage and if finalised, will be established in Orissa.” Rungta Mines plans to fund this grand project through ... |
Investors look to Mozambique16 October 2009, Published under Cement NewsAn unspecified number of investors have submitted applications to the government’s Investment Promotion Centre (CPI) to build cement factories in Mozambique. The National Director of Industry, Fernando Santos, cited in Thursday’s issue of the Maputo daily "Noticias", said that one of the proposals was submitted by Indian investors, who are planning to install two factories , one in Salamanga, in Maputo province, and the second in the northern port of Nacala. Another group of business peopl... |
China reportedly to trim loans to some sectors, cement16 October 2009, Published under Cement NewsChinese authorities plan to curb lending to industries seen to have too much production capacity, such as steel and cement, while expanding loans for technology firms, according to a report Thursday. The People’s Bank of China and the China Banking Regulatory Commission will likely provide instruction to banks, the Nikkei business daily reported. Beijing has ordered financial institutions to tighten lending for firms seeking to expand production capacity unless the project for which the fu... |
Lafarge plans cement plant in Sudan16 October 2009, Published under Cement NewsLafarge SA plans to set up a cement factory in Sudan, the African country’s state-run news agency SUNA reported, citing Industry Minister Jalal Al-Diqair. The minister “welcomed” the French company’s plan to set up the plant, which will cost US$800m and have an annual production capacity of 4Mt, the Khartoum-based news agency said yesterday. Construction in Sudan, especially in the capital Khartoum, has expanded since the north and south of the country signed a peace agreement in 2005 whic... |
Capital markets back Heidelberg strategy - ratings improve16 October 2009, Published under Cement NewsHeidelbergCement continues to refinance borrowing with the successful sale of Eurobonds amounting to EUR2.5bn. The bonds were placed with institutional investors, mainly in Europe, comprising three tranches of EUR1bn 5 year, a EUR1bn 7 year as well as a EUR500m 10-year transaction, the company reported. The Eurobonds received lively investor interest and were several times oversubscribed. Initially, HC had hoped to sell at least EUR1bn (US$1.47bn) bonds in what was its first note issue in... |
Pakistan companies yet to pay CCP fines15 October 2009, Published under Cement NewsNone of the 22 cement producers, who have been fined a total of Rs6.35 billion (or equivalent to 7.5 per cent of each company’s net revenues in the financial year 2008) by the Competition Commission of Pakistan (CCP) for fixing prices, has so far paid the fine or challenged the commission’s decision, sources in the CCP told Dawn on Tuesday. The All Pakistan Cement Manufacturers Association (APCMA) and its members were allowed 60 days to file an appeal before the Supreme Court under the prov... |