Cement News tagged under: international
Yuchengco’s P12-b cement plant cleared, Philippines20 November 2006, Published under Cement NewsThe Board of Investments has approved the P12.128bn new cement facility of South Western Cement Corp, which is partly owned by the Yuchengco group. The board registered the project under the pioneer status but with non-pioneer incentives and no income tax holiday bonus year based on the guidelines of the 2006 Investment Priorities Plan. The new facility will have a capacity of 1.6Mta equivalent to 39.175 million bags annually. The facility will be located in Barangay Looc, Malabuyoc in Ceb... |
HeidelbergCement and Holcim in the race for Indian cement co17 November 2006, Published under Cement NewsHeidelbergCement AG, which took a controlling stake in the Indian firm Mysore Cements four months ago, and the Swiss cement company Holcim Ltd are in seperate talks to pick up a 15-20 per cent stake in a mid-tier Indian cement manufacturer, ’The Economic Times’ of India reported quoting industry sources. The report said both companies have completed due diligence on Gujarat Sidhee Cement, but Heidelberg’s offer is likely to be preferred to that of the Swiss firm and a deal is likely to ... |
Cement retail prices up in Zambia17 November 2006, Published under Cement NewsThe retail price of cement in most parts of Lusaka has gone up by almost 8,000 kwacha (approx US$2) a bag/50kg due to increasing demand by booming construction in the capital city. The price has been increased to 45,000 kwacha (about US$11.54 dollars) per bag from 37,000 kwacha (about 9.49 dollars), according to local media reports on Friday. Most cement traders are selling between 40,000 kwacha (US$10) to 45,000 kwacha a bag. In June this year retail price of cement was 32,000 kwac... |
Shree Cement advances expansion deadline17 November 2006, Published under Cement NewsIndia’s Shree Cement Ltd. has speeded up its expansion project and will complete it two years ahead of schedule to meet the widening demand-supply gap in northern India, a senior official said. The expansion to 10Mt from the present 4.1Mt would be executed by March 2008 instead of 2010, Managing Director Hari Mohan Bangur told Reuters on Friday. Three additional captive power plants of 18 megawatts each would also be operational by then, he added. This would take the company’s power... |
Natal Portland Cement Gets Empowerment Partner17 November 2006, Published under Cement NewsCimpor, owner of Natal Portland Cement, said yesterday that it would sell a 26% stake in the South African operation to a black economic empowerment entity. By selling a stake to a local consortium, Natal Portland Cement will be following a trend that has been set by other industry players. Swiss cement maker Holcim and French group Lafarge earlier this year sold stakes in local operations to black economic empowerment groups. Cimpor-Cimentos, majority shareholder in Natal Portland C... |
Cement sales soar as new projects come on line, South Africa17 November 2006, Published under Cement NewsDemand for cement in SA has continued to soar as sales last month increased 10,9%, compared with the corresponding month last year, according to the cement sales monitor of the Cement and Concrete Institute. Growth in cement demand has caught the local industry by surprise and has prompted local players to invest in expansion projects to ramp up capacity. The institute, which tracks cement sales in SA and neighbouring countries Botswana, Namibia, Lesotho and Swaziland, showed that al... |
Circle Cement’s pricing reprieve, Zimbabwe17 November 2006, Published under Cement NewsCircle Cement has won a reprieve as a court ruled the company had the right to increase its prices in line with input costs. The immediate reaction was for the share price to rise dramatically. The company has been in limbo in the past with the government regarding its product as equivalent to bread, hence the price controls. On the other hand the producer was not liked by investors because it is seen as a single product play and so investors thought it was too risky to invest in the co... |
Vicat eyes stake in MyHome Cement16 November 2006, Published under Cement NewsFrench cement major, the Vicat Group, is close to acquiring a large stake in the Hyderabad-based unlisted company, MyHome Cement Industries, for about Rs 800 crore. MyHome, which has an annual capacity of about 3Mt, is one of the leading cement makers of Andhra Pradesh. The company could be an entry point for the French major to access India. Sources close to the development said the promoters of MyHome were likely to sell less than 51% of the total equity to Vicat. The price negotiat... |
Lafarge’s China JV sees surge in domestic demand16 November 2006, Published under Cement NewsChina’s cement consumption is seen rising 30 per cent by 2010, but keen competition should send 40 per cent of the nation’s roughly 5000 plants into the red this year, a senior executive of Lafarge Shui On said. But profitable Lafarge Shui On, the joint venture between global cement leader Lafarge and Shui On Construction and Materials Ltd. , plans to double its annual production capacity to 40Mt in the next few years. "We are seeing a good prospect," said Cyrille Ragoucy, chief exec... |
Work on JK Cement’s Karnataka unit to commence in December16 November 2006, Published under Cement NewsWork on JK Cement’s 3Mte greenfield cement plant in Karnataka will commence in December this year and the company has already signed contracts for machinery. The company, according to a release, is targeting the markets of Maharashtra, Karnataka and some pockets of Andhra Pradesh. While most of the factory land has been acquired at Mudhol in District Bagalkot, the entire factory and mining land will be acquired by March 2007. The plant is expected to go on stream in the second half of 2008.... |