Cement News tagged under: international
Asia Cement to double production capacity18 June 2009, Published under Cement NewsAsia Cement (China) Holdings will spend US$500m to US$600m doubling production capacity this year and next to meet growing demand driven by the stimulus package and post-earthquake reconstruction in Sichuan province. The Taiwan-invested firm will build four cement kilns, which will be operational by the end of next year. Each kiln would require about US$150m, chairman Hsu Shu-tong said. That would double the firm’s annual production capacity from 10Mt last year to 20Mt by the end of next y... |
Indonesia: cement consumption hit record low18 June 2009, Published under Cement NewsThe national cement market in May was still sluggish, slumping for five months in a row this year. In May, cement consumption fell 14.4 per cent to 3.05Mt from 3.57Mt in May 2008. Such a YoY decline was the highest so far this year. In April, the domestic cement market dropped 7.4 per cent to 2.8Mt from 3.1Mt in April 2008. Demand for cement in March also slumped 11 per cent to 2.67Mt from 2.99Mt in March 2008. Slow loan disbursement to property projects and high housing loan interest ra... |
HeidelbergCement: refinancing completed18 June 2009, Published under Cement NewsHeidelbergCement AG said Thursday it has successfully completed the refinancing of its debts involving more than 50 international lenders. The term of the new syndicated loan agreement totalling €8.7bn runs until 15 December 2011. Acquisition facilities for the acquisition of Hanson in 2007 and other bilateral credit lines and loans have been rolled in under a new facility, and the existing covenants have been adjusted to a level reflecting the change in the economic environment. "With th... |
Deripaska urges Russia to ‘Fix Economy’ after Putin criticism17 June 2009, Published under Cement NewsOleg Deripaska, the Russian billionaire rebuked by Prime Minister Vladimir Putin for wage arrears, said the government should do more to improve the economy if it wants businesses to succeed. The onus is on state officials to help revive demand as the economy shrinks for the first time in a decade, Deripaska told Associated Press Television in an interview yesterday. Russian industrial production contracted a record 17.1 percent in May from a year earlier. “The government better focus” on ... |
Dangote sees Nigeria cement demand rising 10 per cent17 June 2009, Published under Cement NewsDangote Cement expects Nigeria demand to rise by 10 per cent this year from 13Mt due to a real estate boom and government road building projects. Wole Adeleke, finance director for the cement unit of private conglomerate Dangote Group, told Reuters there was strong demand for construction projects in the commercial capital Lagos and in southeastern states. Total cement production in sub-Saharan Africa’s second biggest economy is less than eight million tonnes annually, with the shortfall m... |
Cement consumption in Spain dips 43.7% YoY17 June 2009, Published under Cement NewsCement consumption in Spain plunged by 43.7 per cent YoY to 11.7Mt for January to May 2009, the Spanish cement makers association Oficemen said today. The fall in demand resulted in local producers producing only 12Mt from January to May compared to 20Mt produced a year ago. The cement sector is awaiting the Government to start promised public work orders in order to boost the construction sector and the cement industry, Oficemen said. Cement exports increased 88.4 per cent to 1.2Mt in th... |
EBRD announces a tender for loan supervisor on largest non-oil investment in Azerbaijan17 June 2009, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD or the Bank) has announced the first tender within the support of the major cement producer in Azerbaijan, Garadagh Cement (GC) OJSC, on construction of Kiln No 6 for cement production by dry method. The Bank has reported of announcement of the process of Expression of Interest since 17 June for consulting services on supervision over loan borrower GC by the lender. “EOI receipt deadline is 27 June 2009,” the EBRD says. The EBRD i... |
Sinoma buys Qilianshan Cement stake for Rmb501m16 June 2009, Published under Cement NewsChina National Materials (Sinoma) said it has agreed to subscribe 55 million A shares of Qilianshan Cement at Rmb9.11 per share for a total amount of of Rmb501.05m. Upon completion of the share subscription agreement, Sinoma will hold 11.58% stake in Qilianshan Cement, and will become the second largest shareholder of the firm. |
Lafarge Places a EUR750m Bond16 June 2009, Published under Cement NewsLafarge placed, under its EMTN1 program, a EUR750 million bond with a seven-year and five-month maturity and fixed annual coupon of 7.625%. With this transaction, the Group pursues its optimization of the maturity profile of the Group’s debt, refinancing shorter term bank facilities. The settlement and issue of the bond is expected on June 24. BNP Paribas, Calyon, Citi, HSBC, Morgan Stanley and Société Générale acted as joint-lead managers and bookrunners for this bond issue. |
China production rises16 June 2009, Published under Cement NewsChina’s cement sector has led the rally among the building material industry since the second quarter of this year, Zhang Renwei, head of China Building Materials Federation (CBMF), said at a cement forum on June 9. According to calculations, industry profits increased thanks to strong demand, compared to the first quarter when average profits fell a minor five per cent YoY to CNY2.28bn, pushed down by supply outpacing demand. In the first four months, China’s cement output was up 13.05 pe... |