Cement News tagged under: international
Huaxin Cement positive 1Q profit alert, China16 April 2014, Published under Cement NewsHuaxin Cement Co Ltd anticipates net profit for 1Q14 to increase by 350-400 per cent YoY, compared with a profit of CNY25.74m in the corresponding period of 2013, the company said. The Hubei Province-based company, part of the Holcim group, attributes the profit growth to increasing cement product sales and prices. |
Ambuja to invest internal funds for expansion16 April 2014, Published under Cement NewsAmbuja Cements, part of the Holcim group, plans to spend around INR8bn (US4133m) in 2014 from internal funds to partially finance its ongoing capacity expansion projects. "The year 2014 will see capital expenditure worth INR802 crore over and above INR725 crore investment made in 2013. The entire proposed expenditure will be financed by internal accruals," Ambuja Cements said in its annual report. The company, which has 27.25Mta of capacity, is setting up three greenfield plants, each w... |
Paraguay: INC to expand mill capacity15 April 2014, Published under Cement NewsParaguay’s Industria Nacional de Cemento (INC) plans to launch a bid to expand the production capacity of its mill and therefore, increase the plant’s capacity by more than 8000 bags per day. Although the project has an undisclosed budget, Jorge Mendez, head of the state-owned company, said it would be funded through equity. The increase in the mill’s capacity would complement the new bagging plant in Villeta, which is able to pack around 170,000 bags of cement per day. While the US$7... |
Saudi Cement: first-quarter net profit declines15 April 2014, Published under Cement NewsSaudi Cement Co posted a 16 per cent decline in net profit for the first three months of this year due to lower domestic demand and losses from an associate company. The Saudi-based cement producer reported a profit of SAR286m (US$76.3m) in the three months to 31 March, down from SAR340m in the corresponding period of 2013, the company said in a bourse statement. The decline was attributed to falling local demand. Saudi Cement said it also had exposure to an associated company’s loss after... |
Indonesia 1Q14 sales growth slows14 April 2014, Published under Cement NewsIndonesian cement consumption slowed during the first quarter of this year despite a strong rebound in March sales, latest data by the Indonesia Cement Association (ASI) shows. For the first three months of the year, demand rose by 3.7 per cent YoY to 14.08Mt compared to 13.58Mt in the comparative period of 2013. However, annual growth in the 1Q13 was much higher at 8.6 per cent. According to the data, consumption during the Jan-March 2014 period fell in almost all regions. Consumptio... |
Attock signs Iraq joint venture grinding agreement14 April 2014, Published under Cement NewsPakistan producer Attock Cement on Friday signed an agreement with Al-Keetan Trading and Commercial Agencies Ltd for a new 3000tpd grinding plant in Basra, Iraq. Babar Bashir Nawaz, chief executive of Attock Cement, said the projected cost is estimated at US$35m. Attock will hold a 60 per cent interest and Al-Keetan Trading, the remainder. The plant could become operational in a year’s time, Mr Nawaz added. |
Spain: cautious outlook maintained14 April 2014, Published under Cement NewsCement demand in Spain registered its first monthly growth since the recession started as it reached 875,000t in March, up 16 per cent YoY, according to Oficemen data. However, the increase has been attributed to a weaker comparative period, with the Easter holiday falling in March last year resulting in few working days. Moreover, March 2013 was one of the wettest in history, further hampering building activity last year. March 2014, on the other hand, has experienced much milder weather... |
Titan America's waste-to-fuel initiative, USA14 April 2014, Published under Cement NewsTitan America has begun turning selected wastes into alternative fuel for use at its Pennsuco plant in Medley, Florida. The company works with a unit of Republic Services in Fort Lauderdale that collects refuse from businesses, mostly in Broward County. Initially, Republic Services expects to provide more than 1000t of materials monthly to the Titan plant, according to daily newspaper Sun-Sentinel. By next year, Titan America hopes to replace 30 per cent of the coal at the plant with alte... |
India: Reliance Cement extends its sales reach14 April 2014, Published under Cement NewsReliance Cement Company has expanded its footprint in the domestic Indian market by launching sales of its product in the eastern Indian state of Jharkhand. Commenting on the developments, Arvind Pathak, CEO Reliance Cement, said, "Jharkhand is one of the most important cement markets in the Eastern India. The demand in the state is expected to grow exponentially due to upcoming power and steel plants and other mineral based industries. Reliance Cement is well positioned and equippe... |
Cemex completes financing for wind farm project11 April 2014, Published under Cement NewsCemex has successfully completed the financing of Ventika, a project comprising the construction of two 126MW wind farms each, for a total nominal capacity of 252MW, to be located in General Bravo, Nuevo Leon, Mexico. The investment for the project is approximately US$650m, of which 75 per cent corresponds to debt and 25 per cent to equity. The debt financiers are the North American Development Bank, Banobras, Nafin, Bancomext and Santander. The equity partners are Fisterra Energy, a compa... |