Cement News tagged under: international
Afrimat Construction Index reports 1.3% YoY decline14 June 2024, Published under Cement NewsAfrimat has released the findings of its Afrimat Construction Index (ACI) for the 1Q24 in South Africa. According to Dr Roelof Botha, the weak economic growth during the first quarter of the year was evident in the construction sector, with eight of the 10 constituent indicators of the ACI recording YoY declines and the ACI growth rate slipping to just below zero. The index recorded a level of 103.7 in the first quarter, compared to 117.3 in the previous quarter, and 105 in the 1Q23. He ... |
National Budget FY24-25 offers no direct incentive for the cement sector14 June 2024, Published under Cement NewsBangladesh’s National Budget for FY24-25 was presented by Abul Hassan Mahmood Ali, Minister of Finance, in parliament on 6 June 2024. A cursory look at budget documents reveals no direct tax measures/proposals for the cement sector, which encounters financial challenges due to the high cost of raw materials. However, some indirect tax proposals may positively impact the cement industry. The corporate tax rate, including unlisted cement firms, was lowered by 2.5 percentage points. While form... |
Argentina's cement demand down 27% in May13 June 2024, Published under Cement NewsArgentina's cement market contracted by 27.2 per cent YoY to 780,541t in May 2024 from 1,071,951t, but compared with April 2024, dispatches were up 19 per cent, reports the country's cement association, AFCP. Domestic production was down 27.1 per cent YoY to 785,211t in May 2024 from 1,077,128t, but up 18.7 per cent MoM. Of this total, cement producers exported 4930t, representing a drop of 4.8 per cent YoY and 16.6 per cent MoM. To supplement domestic output, 260t of cement were importe... |
Canada and UNIDO join forces to decarbonise Thailand cement sector13 June 2024, Published under Cement NewsThe United Nations Industrial Development Organization (UNIDO) is joining forces with the Canadian government to help decarbonise Thailand’s cement and concrete sector. A combination of technical assistance and investment support will be given to Thailand to help develop decarbonisation-centric policies, a regulatory framework, and a country-driven national and industrial net-zero roadmap. In addition, the project will support effective monitoring, as well as review and verification syste... |
Kenya's cabinet approves sales of its share in East African Portland Cement13 June 2024, Published under Cement NewsKenya's cabinet has approved a government proposal to offload the 25.3 per cent share it holds in Kenya-based cement manufacturer, East African Portland Cement Co . This comes as part of a wider plan by the Kenyan government to offload shares in a number of state-owned companies. In November, the country’s President, William Ruto, announced plans to privatise 35 state-controlled companies after enacting legislation in October guiding this process. However, this plan did run into issue... |
Robust cement sales growth for Indonesia in May12 June 2024, Published under Cement NewsCement sales in Indonesia amounted to 5.678Mt in May. This is an increase of 11.2 per cent YoY compared to the 5.008Mt reported a year earlier. Regional sales reported growth across all areas led by Kalimantan where the development of Indonesia’s new capital, Nusantara, is ongoing. Sales there rose 32.2 per cent YoY in May to 475,672t up from 359,758t. Local dispatches in Bali-Nustra rose 23.9 per cent YoY to 346,822t from 280,184t. Java, the country’s largest market, saw sales rise 12.4 ... |
China announces carbon reduction targets for cement production11 June 2024, Published under Cement NewsChinese government agencies have set specific carbon emission reduction goals for the cement industry, as the country shifts toward a low-carbon economy. China plans to cut CO 2 emissions by around 13Mt between 2024 and 2025. According to multiple government agencies, including the National Development and Reform Commission, this will be achieved through industrial renovation and equipment renewal at cement plants. Over the period, China also aims to save the energy equivalent of 5Mt of ... |
Dalmia Bharat Acquires 26% stake in Solarcraft Power India11 June 2024, Published under Cement NewsDalmia Bharat Ltd agreed on 8 June to purchase a 26 per cent equity share in Solarcraft Power India 23 (a Karnataka-based solar power firm) for INR103.18m (US$1.24m). The cement company also signed an agreement to buy 8.4m compulsory convertible debentures, amounting to 26 per cent additional equity in Solarcraft, for INR84.38m. Additionally, Dalmia Bharat has signed a power purchase agreement with the energy company. The company said the aim of this was to “source solar power ad a capt... |
Senegal market expands 7% in April10 June 2024, Published under Cement NewsCement sales in Senegal were up seven per cent from 525,000t in April 2023 to 562,000t in April 2024, according to Senegal’s Ministry of Planned Economy and Co-operation. Cement producers produced 702,800t in April 2024, up 1.3 per cent YoY, from 693,500t in the equivalent period in 2023. Of this total, they exported 147,400t, which represents a 7.4 per cent drop from 159,200t in April 2024. January-April 2024 In the first four months of 2024, Senegal’s cement market expanded by 1.6 per ... |
Hoffman Green announces the construction of first Saudi unit07 June 2024, Published under Cement NewsHoffman Green Cement Technologies, a global cement company committed to the decarbonisation of the construction sector, has announced the construction of its first unit in Saudi Arabia. Ground was broken on the new ‘ H-KSA 1’ unit in Rabigh, following the company’s signing of a licensing agreement with Saudi conglomerate the Shurfah Group. The 22-year agreement allows for the construction of four Hoffman Green facilities in Saudi Arabia to support the use of low-carbon and cli... |