Cement News tagged under: international
Yanbu Cement set to sign deal with Sinoma30 July 2008, Published under Cement NewsYanbu Cement Company (YCC), one of the largest manufacturers of cement in Saudi Arabia, will sign a contract with Sinoma International Engineering Co Ltd of China for setting up a new cement plant with 3Mta of clinker. Signing the contract will be YCC Vice Chairman Sulaiman Al-Rajhi and Sinoma Chairman Liu Zhijiang. The contract is on a turnkey basis and the new plant is expected to be commissioned in 30 months time. Austroplan Austrian Engineering GmbH of Austria is the consultant for the... |
China Customs report suggests tariff hike to curb cement export30 July 2008, Published under Cement NewsChinese Customs have suggested, in a latest report, on levying additional provisional export tariffs on cement in light of the rebound of cement exports in Jan-May. Customs statistics show that China’s cement exports came to 12.81Mt in the first five months this year, valuing US$500m, up 10.5 per cent and 4.5 per cent year on year respectively. In May, China’s cement export reached 2.969Mt, valuing at US$120m, down 3.8 per cent and up 16 per cent year on year respectively. |
Malaysian cement price set to rise further30 July 2008, Published under Cement NewsThe average selling price of local cement is now on par with cement prices in the Asia-Pacific which range from RM273 to RM277 per tonne. On Monday, Lafarge Malayan Cement Bhd, which controls about 40% of the local cement market, said it would raise the prices of its cement products by RM20 per tonne from Aug 1. Industry analysts said the latest price increase would translate into a new average selling price of about RM277 per tonne for cement in Malaysia. They expect further hikes in cem... |
Tanzania cement prices remain high29 July 2008, Published under Cement NewsThe prices of cement have not come down significantly despite Tanzania and other East African Community member states having allowed free movement of the commodity across their borders. A 50kg bag of cement averages between Sh15,000 and Sh18,000 in Dar es Salaam, and sells at higher prices in other parts of the country where consumers pay up to Sh25,000 per bag. The only respite for Tanzanians is to wait for the country’s three cement producers to boost their outputs and add some 900,000t... |
Novoroscement to build cement plant, Russia29 July 2008, Published under Cement NewsNovorossiysk-based cement-supplier Novoroscement has announced US$397m plans to build a cement plant in Novorossiysk, Russia. Oleg Ivaschenko, the company’s financial director, said annual capacity at the plant was projected to be between of 2.4- 3.5Mt of cement, Marchmont Capital Partners said. |
Banque Audi finances Lafarge cement factory in Syria29 July 2008, Published under Cement NewsLebanon’s Banque Audi has arranged a US$380m loan to French conglomerate Lafarge to finance a cement factory in Syria, which suffers from shortage of the product, a bank executive said on Monday, reports Reuters. The 18-month loan issued by a consortium of mostly Arab banks led by Banque Audi will be replaced upon maturity by a longer term loan, Bassel Hamwi, who runs Banque Audi’s Syria operation told Reuters. "This is a bridge loan that will allow the structuring of a longer term projec... |
TPI Polene 2Q08 earnings slightly higher than expected29 July 2008, Published under Cement NewsTPIPL reported 2Q08 net profits of Bt74m, down 91.5% YoY and 92.2% QoQ. Stripping out Bt530m FX losses from its loans, 2Q08 normalised profits were Bt605m, down 20.3% YoY but up 8.8% QoQ. The YoY drop was due to the absence of tax refund like in 2Q07, while the QoQ improvement was from unusually low tax expenses. It was this tax issue that led to TPIPL’s results being above market consensus by 4%. Key highlights for 2Q08 results: Sales. 2Q08 sales were Bt6.6bn, up 11.7% YoY but down 5.4%... |
Indonesia’s Indocement H1 profit more than doubles29 July 2008, Published under Cement NewsIndonesia’s second-largest cement maker, PT Indocement Tunggal Prakarsa Tbk, reported on Monday its first-half net profit more than doubled, led by strong domestic cement sales. Industry data showed cement consumption expanded by 21.1 per cent to 18.89Mt in the first six months of this year. Indocement, controlled by HeidelbergCement , said its net profit climbed to IDR770.74bn in the January-June period from IDR360.145bn a year ago. Its net revenue jumped 42 per cent to IDR4.49trn. ... |
Lafarge to raise cement prices by MYR20/t29 July 2008, Published under Cement NewsLafarge Malayan Cement Bhd, Malaysia’s largest cement producer by volume, is increasing the recommended retail prices for its bagged cement products by MYR1 per 50kg bag, or MYR20 a ton, from August 1 until year-end, the Star newspaper reported Tuesday. The daily quoted Lafarge President and Chief Executive Bi Yong Chungunco as saying the adjustment had to be made to alleviate some of the company’s major cost increases such as coal and fuel. Cement prices in the country rose an average 1... |
Indonesia’s Semen Bosowa to raise capacity28 July 2008, Published under Cement NewsCement maker PT Semen Bosowa Maros in South Sulawesi plans to increase its production capacity to 3Mt in 2009 from 2Mt at present. The plan is to increase the valuation of the subsidiary of the Bosowa Group when it launches an initial public offering expected in mid 2009, Bosowa chief executive officer Erwin Aksa said. The capacity expansion will cost at least US$10m to buy new equipment, Erwin said. The company reported a 15 per cent increase in sales to 1Mt in the first half of this ... |