Cement News tagged under: international
Gamesa to supply G80-2MW wind turbines to Lafarge Ciments17 October 2008, Published under Cement NewsThe wind turbines will be installed in the third phase of the Tetouan wind farm in Morocco. In addition to the supply of the wind turbine generators, the contract also includes their installation and start-up, the turn-key expansion of the wind farm, as well as its operation and maintenance between 2009 and 2012. The closure of this deal reportedly consolidates Gamesa’s position in Morocco, where it has entered into agreements for the installation of wind turbines with a total capacity of 2... |
Holcim Vietnam buys local cement plant from Cotec Group17 October 2008, Published under Cement NewsHolcim Vietnam Ltd. has purchased a cement factory from Vietnam’s Cotec Group to expand its production in the country, a Cotec official said Friday. The factory, located in Ho Chi Minh City, has a production capacity of 1Mta and employs more than 200 workers, said Vu Minh Hieu, a senior official of Cotec Group. Hieu declined to say how much the factory was sold for, but the Ministry of Planning and Investment said in its Dau Tu newspaper Friday that the price was $45m. "We had to sell the... |
US Cement capacity reductions17 October 2008, Published under Cement NewsThe US Portland Cement Association (PCA) in the US has issued its latest update on new US cement capacity which indicates that the planned commencement of a new phase in the US cement capacity cycle has been halted and two planned new plants being postponed indefinitely. They were both greenfield plants. Houston American Cement had planned to open a new 810,000tpa plant in Perry, Georgia in mid-2010 and Sumter Cement Company had planned to open a 1.35Mta plant in Center Hill, Florida early i... |
Cemex halts investment projects17 October 2008, Published under Cement NewsWithin hours of announcing its 3Q results, Cemex has brought out a statement that saying that almost US$500m of annual savings were to be implemented before the end of this year. The capital expenditure programme is being cut to the extent that only projects far enough advanced to be completed by early in 2009 will continue and all other investments in new capacity will be halted. In Mexico, a 1.8Mta increase in capacity at the Yaqui works should to come on stream later this year, but the ... |
Belarus Government set to get US$529.3m loan from Chinese bank for expansion16 October 2008, Published under Cement NewsThe Belarusian government wants to obtain a US$529.3m loan on easy terms from a Chinese bank for the expansion of the country’s three cement plants. Under a directive issued by the Council of Ministers on October 10, Andrey Kharkavets, minister of architecture and construction, will hold talks with the Chinese Export and Import Bank about the possibility of the two loans, one totaling US$29.3m and the other $500m. The Belarusian government wants to increase the domestic output of cement to 1... |
Yamama Cement Jan-Sep ’08 net profit down 13%16 October 2008, Published under Cement NewsThe net profit of Saudi cement producer Yamama Cement Company (YCC) (SAU:3020) dropped to SAR526m (US$139.8m) in the first nine months of 2008 from SAR 604m in the same period of 2007, or a decrease of 13%, the company said in a filing to the Saudi Stock Exchange on October 15. YCC attributed the decrease to lower sales and higher maintenance costs but did not give exact figures. The earnings per share (EPS) stood at SAR 3.89 for January to September 2008, down from SAR 4.48 a year ago. T... |
Russian co to build RUB10.5bn cement plant near Novosibirsk16 October 2008, Published under Cement NewsRussian industrial and construction concern Sibir (Siberia) plans to build a 10.5 billion ruble cement plant in the Novosibirsk Region, the regional government’ department for strategic management and planning said Wednesday. The plant will be built in the region’ Toguchinsky district. It is expected to annually produce 1.3 million tonnes of cement. Construction of the plant is slated to start in 2009 and finish in 2012. |
Kikwete lays stone for new cement plant, Kenya16 October 2008, Published under Cement NewsThe cement factory, owned by Maweni Limestone Limited, a subsidiary of the Kenya-based Athi River Mining Company, would be the largest of its kind in the Eastern African zone with a production capacity of 1.5Mt of cement. Assuring investors of support, he said Tanzania would protect their investments because it had signed an international accord to protect investments. The country was a member of the Multilateral Investment Guarantee Agency (MIGA) and International Centre for Settlement of... |
Cemex’s pre-tax profit drops by 43%16 October 2008, Published under Cement NewsIn the first nine months 2008 Cemex produced a 12.1% advance in turnover to US$17,479.6m, helped by the inclusion of Rinker for the full period, compared with just three months last year. Margins have suffered and the EBITDA was up by a more modest 5.5% to US$3,610.0m and the higher interest costs and losses on foreign exchange and financial instruments led to a 42.9% drop in the pre-tax profit to US$1,245.8m. A lower minorities charge resulted in a 38.8% reduction in the net attributable ... |
Shree Cement sees realty slowdown hitting margins15 October 2008, Published under Cement NewsShree Cement Ltd expects the slowdown in the real estate sector to hit margins in the coming quarters, Managing Director HM Bangur told television channel NDTV Profit on Tuesday. "The earnings will be hit in the coming quarters, our per-tonne realisation is coming down with the increase in cost," he said. Despite these pressures, Shree Cement will continue with its expansion plans and will invest INR2bn in the current financial year to expand capacity to 8Mt by March 2009, Bangur added. |