Cement News tagged under: international
Turkey Cimentas says to sell Alfacem stake23 March 2009, Published under Cement NewsTurkish cement firm Cimentas has decided to sell its stake in Alfacem to Cementir Delta for EUR85m. |
ACC puts ready-mix plans on hold23 March 2009, Published under Cement NewsACC of India has decided to put on hold plans to expand its ready-mix concrete (ready-mix) business due to a slowdown in construction activities across the country. When contacted, Hans Fuchs, managing director of ACC Concrete, said: “With the global financial crisis taking its toll on the domestic construction market, especially in the real estate sector, the extensive expansion plans of ready-mix have been put on hold for 2009.” Though the exact amount of money that the company was suppo... |
JAL new plant to produce from April 200923 March 2009, Published under Cement NewsJaiprakash Associates Ltd’s (JAL), a subsidiary of Jaypee Group, new cement plant in Himachal Pradesh is likely to commence operation from April 2009. The group is setting up a 3Mt capacity cement plant in Baga & Bagheri village of the Solan district. The project cost includes grinding unit at Panipat, Nalagarh and Roorkee) along with a 30MW captive power plant. Also, it has plans to raise the capacity by 1.5Mta with an investment of Rs 700 crore by 2010. Further, the company has signed Mo... |
Indonesia’s Feb demand down 4.5% YoY23 March 2009, Published under Cement NewsIndonesia’s domestic cement consumption fell 4.5 per cent in February to 2.86Mt from a year ago, data from the country’s cement industry association showed on Monday. However, the country’s biggest cement producer, PT Semen Gresik Tbk , recorded a 5.2 per cent rise in total cement sales to 1.32Mt in February, the data showed. The firm, which has market capitalisation of about US$1.8bn, previously said it expected Indonesia’s cement demand would fall this year due to the global economic cri... |
Pope mass in Cimangola square draws one million, Angola23 March 2009, Published under Cement NewsOne million people attended a mass at Cimangola open ground as Pope Benedict XVI marks an end of a week-long trip to continent. While administering mass in the outskirts of Luanda, the pontiff decried the "clouds of evil" of war, greed and tribalism in Africa. Addressing the open-air service at the end of a seven-day trip to Africa, the Pope urged the worshippers to continue rebuilding Angola after decades of conflict. His message followed earlier calls for African leaders to step... |
Holcim initiates arbitration proceedings against Venezuela23 March 2009, Published under Cement NewsHolcim said on Monday it wants full compensation for the assets seized by Venezuela’s government in 2008 during a nationalisation drive. Venezuelan President Hugo Chavez took over Holcim Venezuela and other foreign cement companies as part of his bid in 2008 to run key industries in the South American oil-producing nation. The nationalisation of Holcim Venezuela became effective in June. Holcim and the Venezuelan government signed a memorandum of understanding last August that would grant H... |
Chavez runs short of cash for takeovers as oil slumps20 March 2009, Published under Cement NewsVenezuela is holding up payments to contractors, oil services companies and targets of President Hugo Chavez’s nationalization drive, indicating the country is running short of cash after petroleum prices collapsed, reports Bloomberg. Service providers to the state oil company are idling rigs for non-payment, and Brazil’s Odebrecht SA said last week it’s slowing work on the Caracas metro because the government is past due on its bills. Chavez also owes US$10.2bn for companies he’s taken ove... |
Sen. Boseman’s bill slows plant construction, US20 March 2009, Published under Cement NewsState Senator Julia Boseman introduced S699 Thursday intended to put the brakes on the Titan Cement plant. The bill calls for a moratorium on cement plant production in North Carolina until September of 2010. Titan America wants to build the plant in Castle Hayne and says it would create much needed jobs and boost North Carolina’s struggling economy. But Boseman says she’s concerned the plant’s environmental impact will outweigh any benefits. "I’ve been opposed to this plant from the begin... |
Pakistan producers benefit from declining coal prices20 March 2009, Published under Cement NewsCement producers in Pakistan are expected to witness another increase in their profits as the industry’s basic raw material coal prices have declined by 55 per cent to date (March 2009) from the peak level in July 2008, it was learnt on Wednesday. Prices of coal, the key cost driver of the cement sector have also declined in the international market. The prices of the commodity have come down to US$80/t from US$200 in August 2008. The coal price hike had negatively affected the cement sect... |
Ghana cement prices rise20 March 2009, Published under Cement NewsThe sudden escalating prices of commodities occasioned by the falling of the Ghanaian currency, the cedi, has caught up with cement, with prices of the product skyrocketing. The continuous decline of the cedi has pushed the prices of cement up as a result of high cost of raw materials, especially clinker, dealing a big blow to the Mills Administration. Distributors have therefore increased the prices of the product in the retail market. The prices are said to have gone up from GH¢8.7 to ... |