Cement News tagged under: international
Five year tax holiday to new cement units, India20 March 2007, Published under Cement NewsUnable to put pressure on cement manufacturers to slash prices, the government is planning to offer them a five-year tax holiday to set up more capacity to end the current demand-supply mismatch and consequently soften prices. According to a source in the Department of Industrial Policy and Promotion, the government may give a five-year tax holiday to cement units announced on or after April 1 with a caveat that they have to commence production within three years. Cement makers and... |
Rinker acquires more quarries as Cemex bid lingers20 March 2007, Published under Cement NewsRinker Group Ltd said it has acquired three hard rock quarries and two sand mines in the northeastern Australian state of Queensland from private interests for an undisclosed sum. The acquisitions, aimed at bolstering the group’s position as a supplier to construction industry in Australia’s fastest growing state, comes as a hostile US$11.7bn bid for the construction materials group by Mexican cement group Cemex SA is showing signs of not succeeding. Rinker has rejected the bid, p... |
Row Over Sh470m tender increases Portland’s Woes20 March 2007, Published under Cement NewsSuccession, two key vacancies and a Sh470m deal are at the centre of problems bedevilling East African Portland Cement Company. The firm is said to have lost business estimated at Sh300m last month alone due to its inability to operate at optimum capacity. And with the problems still far from resolved, a loss of another Sh300 million is anticipated this month. At the centre of the storm is acting managing director Ndegwa Kagio and the chairman of the board, Mr Benson Ndeta, both of... |
Russian co to build cement plant in Uzbekistan 2007-201020 March 2007, Published under Cement NewsRussia’s Moscow-based TKB-Invest plans to build a cement producing plant in Uzbekistan between 2007-2010, Uzbekistan’s Uzstroymateriali, the project’s customer, said Monday. A spokesman with the Uzbek company said that the two companies had already signed a memorandum of intent to set up a joint venture for the plant’s construction. The production capacity of the plant is expected to amount to 3Mta the spokesman said. The spokesman added that a feasibility study for the constru... |
Germany’s HeidelbergCement to raise Indian capacity19 March 2007, Published under Cement NewsHeidelbergCement said on Sunday it will set up a 2Mta year cement plant in western India to tap rising demand in the world’s second-largest cement producing market. Heidelberg, the world’s fourth-largest cement maker, said in a statement it would build the plant in Gujarat state but did not disclose any investment numbers. The company already makes 3.5Mt of cement a year in India. "Heidelberg wants to achieve the stated objective of 10 to 15Mt capacity in India over the next three to... |
Chinese company to set up new cement factory in Hodeidah, Yemen19 March 2007, Published under Cement NewsA Chinese company is to start works in setting up a new cement factory in Bajal district, Hodeidah, at a total cost of $ 113m. Ismail al-Shibani, board chairman of Cement Industry and Marketing Cooperation stated to Saba that the SMK Chinese Company would set up the factory this year after the company and the corporation singed recently the agreement of the implementation. The Chinese government will offer 80 per cent of the cost as loan and the Yemeni government would offer rest of sum. ... |
Price control mechanism for cement, steel sought19 March 2007, Published under Cement NewsThe Federation of Tamil Nadu Flat and Housing Promoters’ Association has urged the Centre to put in place a price control mechanism for cement and steel. The housing sector has been completely neglected in the Union Budget and the rise in prices of cement and steel has added to the burden of the industry. The middle class segment was already feeling the pinch owing to the rise in interest rates on home loans. The government should take measures to encourage the housing sector, the Vice-... |
Stalled Cemex bid stirs Rinker pot19 March 2007, Published under Cement NewsCemex is not expected to raise its US$12bn ($15.3bn) bid for Australian rival Rinker Group when the offer expires at the end of the month, even if that means walking away empty-handed. But both companies could enjoy an enhanced reputation if the four-month takeover battle fails to provide a deal, with investors applauding Cemex for not overpaying for the purchase, and Rinker being approached by other suitors, analysts say. "Judging by the signals Cemex has been sending, it won’t i... |
Asia Cement China investment19 March 2007, Published under Cement NewsAsia Cement Corp announced its board of directors has approved a proposal to invest a further US$38.18m in China, according to Chinese media reports. The Taiwan-based cement provider said the investment will be channeled into two of its subsidiaries in Hubei province and one in Jiangxi province |
Fujian Tapai Cement Company’s 4500tpd cement project approved19 March 2007, Published under Cement NewsAccording to the news released today by Fujian Tapai Cement Company, the company plans to establish two new 4500tpd dry-processed cement and clinker production lines in Yanqian Town, Wuping County of Longyan City, Fujian Province. Construction of the project’s first phase has been approved. The two production lines will be funded by Guangdong Tapai Group’s subsidiary, Fujian Tapai Cement Company. |