Cement News tagged under: international
India: Shree Cement’s MP plant delayed over land issue25 February 2008, Published under Cement NewsKolkata-based Shree Cement Ltd’s (SCL) upcoming cement project in Madhya Pradesh is being delayed due to land procurement issues. Shree Cement, the Rs 1,500 crore company, has acquired almost 90% of the required 1,200 acres in Katni in Madhya Pradesh for the plant, but is facing problems over the acquisition of around one acre land in the middle of the project area, which the farmers do not want to sell, a source close to the development said. The company is talking with the Madhya... |
Complaints as cement price hits N2,200, Nigeria25 February 2008, Published under Cement NewsBarely one month after the lifting of the ban on importation of cement by the Federal Government, the price of cement has increased from N1,300 to N2,200. According to a market survey carried out by the Nigerian Tribune in Lagos at the weekend, the price of a bag of cement has increased progressively from N1,300 to N1,600, N1,800 and now N2,200 less than 30 days after the granting of licences for importation. In some of suburbs of Lagos such as Ajah, Ayobo, Ipaja, Ikotun, Berger and Ibafo ... |
Azerbaijan Investment Company becomes shareholder of cement plant25 February 2008, Published under Cement NewsThe Azerbaijan Investment Company (AIC) signed an agreement on Feb. 13 with Holcim after purchasing a 10 per cent participation share in the capital of Garadagh Cement plant, where Holcim is the key shareholder. The participation totaled US$20m (EUR13.7m). Shareholders of the cement plant include: Holcim - 69.4 per cent, Azerbaijan Investment Company - 10 per cent, the European Bank for Reconstruction and Development - 10 per cent, and individual shareholders - 10.6 per cent. Azerbaijan’s ... |
Cement shortage still haunts Tanzanian construction sector25 February 2008, Published under Cement NewsPerceived as a problem that would end shortly, it’s almost seven months now since consumers started experiencing the scarcity of cement across the country, yet little seems to have been achieved to get rid of the shortage and many still can’t afford to carry on their projects. Cement shortage has pushed prices high as demand increases due to a booming construction industry, but a significant number of potential consumers have stopped their projects as a result of increased costs. Retails p... |
PPC upbeat on Zimbabwe subsidiary25 February 2008, Published under Cement NewsPretoria Portland Cement (PPC) said its Zimbabwean subsidiary had surpassed market expectations despite operating under price controls which were imposed by government in July last year. "To offset losses, the company focused on exports to sustain operations. During the year under review, 140,000t of cement were exported from the Bulawayo factory to meet the unprecedented demand for cement in South Africa," said PPC. "Whilst there has been some relaxation to the harsh pricing measu... |
Cimpor investment projects in Tunisia and Jordan25 February 2008, Published under Cement NewsCimpor is planning a 50% increase in clinker capacity at Ciments de Jbel Oust in two stages. On the final completion of the project, expected in 2010 or thereabout, the cement capacity, using own clinker, should be raised from the present 1.6Mt to 2.4Mta. The timing of this project is very similar to the EUR100m investment in a 0.75Mta greenfield plant being built in the Meknès region of Morocco. Cimpor is currently at an advanced stage in investigating the possibilities of building an i... |
Japan’s IHI to sell cement plant business to Kawasaki Heavy25 February 2008, Published under Cement NewsJapanese heavy machinery maker IHI Corp said Monday it will sell its loss-making cement plant business to industry peer Kawasaki Heavy Industries Ltd as it refocuses its attention on the liquefied natural gas storage facility business. The cement plant business accounted for 8.7 billion yen or half of IHI’s overall operating loss, and 4.1 billion yen or 0.6 percent of IHI’s overall revenues last fiscal year. IHI said it expects "minor" earnings impact from the deal which it expects to compl... |
YTL Corp: 1H profit after tax +24% YoY22 February 2008, Published under Cement NewsMalaysian conglomerate YTL Corp. Bhd Friday said its first-half profit after tax rose 24% on year as all its main business divisions - including utilities and cement - turned in better figures. In the six months to Dec. 31, profit after tax climbed to MYR688.4m from MYR553.7m. YTL Cement Bhd posted a 39% growth in first-half profit after tax to MYR104.2 million on improved cement demand and higher selling prices. YTL Corp declared a second interim dividend of 7.5 sen, payable ... |
Egypt’s National Cement 6-mth profit down 33 per cent22 February 2008, Published under Cement NewsEgypt’s National Cement posted a 33 per cent drop in net profit in the six months to the end of 2007 to E£101.37m (US$18.46m). The company made £E151.16m in the same period a year earlier, the first half of its financial year. A statement on the stock exchange website gave no further details. |
SAIL signs JV pact with Jaiprakash Associates22 February 2008, Published under Cement NewsSteel Authority of India Ltd today said it has entered into an agreement with Jaiprakash Associates to form a joint venture company to set up a cement plant in Jharkhand. The firm along with Jaiprakash Associates would float a joint venture company to set up a cement plant for producing 2Mt of cement at Bokaro in Jharkhand, it said in a filing to the Bombay Stock Exchange. SAIL would have a 26 per cent stake in the joint venture company while the remaining 74 per cent would be wi... |