Cement News tagged under: international
Holcim to invest EUR22m to raise Bulgarian output05 March 2007, Published under Cement NewsHolcim plans to invest EUR22m to expand the output capacity of one of its Bulgarian plants by the end of 2008 in view of fast growing domestic demand, Holcim Bulgaria CEO Todor Kostov said. "We are currently in the stage of designing and getting building permits," Kostov told SeeNews. Last year Holcim Bulgaria completed a EUR32m investment in raising the clinker output capaciy of its Beli Izvor cement plant to 2500tpd from 1500tpd. "In view of the speedy growth of the market, th... |
Foreign investment in KZN on the rise05 March 2007, Published under Cement NewsForeign direct investment into KwaZulu-Natal is increasing exponentially, with more than R27 billion invested in South Africa’s second- largest economic hub between 2000 and 2005 alone, Finance MEC Zweli Mkhize said in his budget speech in Pietermaritzburg yesterday. He highlighted the successes of KZN in luring foreign investment, promoting economic development and fostering the growth of the small and medium enterprises (SME) sector in delivering the province’s R43.5 billion budget. ... |
FM warns cement firms on price hike, India05 March 2007, Published under Cement Newsn a veiled warning to cement companies which have raised prices after the Budget, Finance Minister P Chidambaram today cautioned cement companies against acting as a cartel. The companies had raised prices a day after the Budget, which reduced the excise duty on cement by Rs 50 on cement sold at Rs190 per bag. The duty was, however, raised for cement sold at Rs 200/t. In the process, they ignored the minister’s plea to hold the price line. "I hope they are not acting as a cartel. But if ... |
Pakistan cement sector’s first-half profits down 62 per cent05 March 2007, Published under Cement NewsAfter receiving 32 percent downward revision in profitability during the first quarter of the current financial year, the profitability of the local cement sector remained under pressure for the second quarter, leading to an overall 62 per cent decline in profits during the first six months of the financial year 2007. With cement prices further falling in the October-December 2006 period, it was expected that the second quarter of the financial year 2007 would be worse for the cement sector... |
Orascom Construction Industries expands aggregates operations in Europe05 March 2007, Published under Cement NewsOrascom Construction Industries announced that Group GLA - 50% owned by OCI - has signed an agreement for a total value of EUR 17.4m for a 100% stake of Minas Nieves in Corrales de Buelna and for the acquisition of Minas Cau, a quarry operation in Yecla. Combined, the two quarry operations are expected to produce close to 0.8 million tons after the take-over is complete. Group GLA is the largest independent aggregates and ready-mix concrete producer in Spain. OCI acquired 50% of the Gro... |
Heidelberg open offer falls through02 March 2007, Published under Cement NewsThe open offer made by the German cement major HeidelbergCement to the shareholders of Mysore Cements Ltd has fallen through. The company, which made an open offer to acquire a little over 22% stake, could able to muster only 4.33% for its offer price of Rs 58 a share. Despite its revised public announcements and repeated corrigendum to the open offer, the German major failed to evince necessary response from the individual shareholders, who preferred to sell at much more better price than... |
Morocco to increase investments in cement industry02 March 2007, Published under Cement NewsThe Moroccan cement industry has planned to invest 10 billion dirhams (US$1.18bn) for the period 2006-2010 to keep pace with the "extraordinary development" in the construction sector, according to a statement issued on Thursday by Morocco’s professional association of cement manufacturers. Following this investment, Moroccan cement industry is expected to register an additional production of 5.5Mt, which will push the production to 18Mt and thus meet a national consumption of approximately ... |
Cementir unveils 2007-2009 targets02 March 2007, Published under Cement NewsCementir, the Italian cement group, has set respective revenue and gross operating margin targets of 1.2bn and more than EUR300m in its 2007-2009 business plan, which it will today present to the stock market. The group will invest 140m euros over the next three years in order to boost production capacity in countries of strategic interest. |
Construction investment to increase 70 per cent , Vietnam02 March 2007, Published under Cement NewsEnterprises under the Construction Ministry will implement 493 investment development projects capitalised at over 35.7 trillion VND (US$2.2bn) in 2007, a 70 percent increase over 2006. Investment will be focused on cement plants, housing and urban development, power plants, and infrastructure facilities for transport. Among them, the Song Da Corporation will carry out hydro-power plant projects, the Machinery Installation Corporation (Lilama), thermal-power plants, the Viet Nam Co... |
India cement prices harden by Rs 12 per bag02 March 2007, Published under Cement NewsRetail prices of cement have risen Rs12 per bag with effect from Thursday nullifying the finance minister’s move to curb prices by linking excise duty to a higher rate. Prices of cement hovered around Rs 250-255 per bag (Mumbai) at the retail level compared with Rs 240-245 on Wednesday, confirmed city-based cement stockists. Excise duty on cement, which was Rs 408/tonne irrespective of the retail price of the commodity, has now been linked to the retail price. Duty has been hiked 50% to Rs ... |