Cement News tagged under: international
Arabian Cement makes first move to expand abroad04 June 2007, Published under Cement NewsArabian Cement Co, is eyeing acquisitions in Africa and the Middle East as it prepares to start construction of its first cement plant outside Saudi Arabia – a $400m project in Jordan, its chief executive said on Friday. “We are looking at any opportunity to construct a cement factory and seize the chance by focusing on the Middle East and North Africa region along with Africa,” Arabian Cement President and CEO Muhammad Uthman said. The company, which is investing around $900 million in pr... |
Qatari firms in deal to set up cement factory in Pakistan04 June 2007, Published under Cement NewsQatar National Cement Company (QNCC), along with two other Doha-based entities, is constructing a cement factory in Pakistan. QNCC, Qatar Investment Authority and Qatari Diar Real Estate Investment Company has jointly signed a memorandum of agreement to construct the cement factory at Sind province in Pakistan, according to a communiqué posted on the Doha Securities Market website. However, the communiqué was devoid of other details regarding the construction cost, production capacity, exe... |
Top court clears way for harbour cement facility04 June 2007, Published under Cement NewsA cement-mixing facility will be built in Vancouver’s east harbour area after the Supreme Court of Canada ended a five-year court battle yesterday by giving a green light to the project. Yesterday’s ruling was a defeat for the Burrardview Neighbourhood Association and the provincial government, which had supported the association in its legal challenge to the constitutionality of the project. Once in operation, the Lafarge Canada Inc. facility will barge in aggregate from the Suns... |
Dyckerhoff to build 2Mt greenfield plant in Russia01 June 2007, Published under Cement NewsDyckerhoff (a subsidiary of Buzzi Unicem) plans to build a greenfield cement plant with a cement capacity of about 2Mt in the Orenburg region, located about 35km from the Kazakhstan border. The new plant is expected to be completed and in operations by 2010. Total project cost is estimated up to 250 million euro, to be financed out of existing cash reserves and expected future internal financing. The new plant will benefit from favorable transport links, due to direct access to the main rail... |
BEE group looks offshore for funds to buy Holcim01 June 2007, Published under Cement NewsThe funding for the acquisition of 85 per cent of Holcim South Africa by a black economic empowerment (BEE) consortium for R13.8bn is to be sourced offshore. This was confirmed by Mofasi Lekota, the chairman of Bunker Hills Investment, the lead shareholder in the AfriSam Consortium that is acquiring the controlling stake in Holcim SA. Today is the deadline for the AfriSam Consortium, headed by Eltie Links, the former trade negotiator and South African ambassador to the EU, to have ... |
Cement prices seen declining in coming years, Jordan01 June 2007, Published under Cement NewsCement prices are likely to decline when two new producers enter the local market in the next two years. The production capacity of the Qatrana Cement Factory, 90km south of Amman, is expected to reach 2Mta, according to Mohammad Othman, CEO of the Saudi-based Arabian Cement Company which will operate the Qatrana plant. An expansion plan aims at raising the production level to 4Mta, Othman indicated. He estimated the project will cost $400m and will provide more than 300 job opportunities... |
FAS warns Eurocement Group01 June 2007, Published under Cement NewsThe Russian Antimonopoly Service (FAS) says it will fine the Eurocement Group, if the company raises prices for cement on June 1. The fine could exceed RUR500m. FAS investigated Eurocement activities two years ago after the company doubled cement prices and issued a writ to reduce prices and pay RUR19bn worth of illegal income to the budget. After litigation the parties signed an amicable agreement. The company admitted the fact of the violation of the antimonopoly law and pledged t... |
AIC resumes stake-talks with Garadagh Cement, Azerbaijan01 June 2007, Published under Cement NewsThe Azerbaijan Investments Company (AIC) has resumed stake negotiations with Garadagh Cement, according to deputy executive director of AIC Riyad Gasimov. "Garadagh Cement has been sent an official notification that we are prepared to make the arrangements to acquire the shares. We have had legal complications but we have made every effort to eliminate them. We are waiting for the company to react to our notification so that the negotiations can be resumed," Mr Gasimov said. A prelimi... |
AWU angry cement plant workers forced to change industrial agreement01 June 2007, Published under Cement NewsThe Australian Workers Union (AWU) says workers at the Gladstone cement plant are being forced to abandon their industrial agreement or their company will not be allowed to bid for Federal Government contracts. The national secretary of the union, Bill Shorten, met the company and its workers in Gladstone this week. He says while Cement Australia is being strangled by regulation and red tape, millions of tonnes of foreign cement is being allowed into the country to the detriment of... |
Gresik plans to build new plant, Indonesia31 May 2007, Published under Cement NewsIndonesian cement producer PT Semen Gresik plans to build its third cement plant in Java next year, a senior company official said Thursday. "We need up to around US$570m to finance the development of the plant," Gresik’s Chief Financial Officer Cholil Hasan told reporters. As much as 40% of the funds will be taken from the company’s internal cash, while the remainder will be from "the issuance of either rupiah or dollar bonds or syndicated bank loans," Hasan added. Hasan exp... |