Cement News tagged under: investment
Ambuja Cements announces green power investment18 December 2023, Published under Cement NewsAmbuja Cements has announced plans to invest INR60,000m (US$723m) in renewable energy, resulting in green power accounting for 60 per cent of its energy requirements. According to the company, 1000MW of solar and wind power projects are planned, including a 600MW solar power project and a 150MW wind project in Gujarat, along with a 250MW solar power project in Rajasthan. This will be achieved by FY25-26 in addition to the company’s existing 84MW of solar and wind power. Ambuja is also ... |
Adani Group commits to investment in Bihar15 December 2023, Published under Cement NewsThe Adani Group has announced plans to invest an additional INR87,000m (US$1046m) in the Indian state of Bihar. The money will be spent across a number of sectors, including its cement business. So far Adani has invested around INR8500m in the Bihar region but plans to create an additional 10,000 jobs in the state through its spending plans, according to The Telegraph. “Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribu... |
Taiheiyo to build new terminal in Philippines22 August 2023, Published under Cement NewsJapan-based Taiheiyo Cement Corp (TCC) will build a new cement terminal in Calaca, Batangas, Philippines, to enable the company to serve the Luzon market from its pant in San Fernando, Cebu. Taiheiyo Cement Philippines Inc (TCPI) will build and operate the planned hub to distribute its Grand-branded cement products, according to TCC President and Representative Director, Masafumi Fushihara. The 0.7Mta project is the next step in serving a market that TCPI has estimated to have increase... |
CRH attracts new investors prior to US move17 August 2023, Published under Cement NewsCRH is attracting new investment prior to its move to the New York Stock Exchange in September this year. According to the Irish Independent, at least 26 hedge funds have announced new or expanded American depository receipts (ADRs) in CRH. In total, hedge funds bought a net 7.53m ADRs in CRH in the three months up to 30 June 2023, reports Bloomberg. Among the investors are Soros Fund Management, owned by billionaire George Soros, which now holds ADRs worth around US$20m, and Seth Klarma... |
Fitch B+ rating for United Cement Group01 June 2023, Published under Cement NewsFitch Ratings has awarded a B+ rating to United Cement Group (UCG) . The positive outlook by the rating agency is due UCG’s large-scale modernisation as well as with an increase in profitability. The recent acquisition of construction glass producer Kvarts by UCG is also expected to lead to ongoing improvements in product diversifiaction and strengthening of financial stability. Moreover, the integration of Kyzylkumcement is anticipated to increase operating profitability. According to F... |
Spain’s cement industry raises local social investments to EUR5.2m in 2021-2201 July 2022, Published under Cement NewsThe cement industry in Spain has increased its social investments in the communities where it operates its 32 plants by 79 per cent to EUR5.2m in the last two years, reports the Spanish cement association, OFICEMEN. The findings were published in the latest Study on corporate social responsibility (CSR) in the cement sector, which has been carried out on alternate years since 2014 by the Cement Labour Foundation and the Environment (CEMA Foundation), in collaboration with Forética. Given t... |
Building a better Australia13 June 2022, Published under Cement NewsAdbri has been integral to the use of slag cements in Australia since the 1970s. Here, the company looks at how the role of slag cements in the Australian cement industry has progressed and the importance of strong partnerships with local and foreign suppliers. By Michael Miller, Adbri Ltd, Australia. ABCL’s Birkenhead site Adbri Ltd, formerly known as Adelaide Brighton Ltd, is a pioneering construction materials and industrial mineral manufacturing company in Australia. With... |
Steppe Cement increases capex for 2022-2313 June 2022, Published under Cement NewsKazahstan’s Steppe Cement plans to invest US$7m in capex in 2022 and the first half of 2023. Among the projects outlined is the completion of the new separator for cement mill 1 to increase slag content and cement production, and reduce electricity consumption, as well as starting the new separator for cement mill 2. The raw mill 3 separator will be revamped to increase production on Line 6, along with modifications to the Line 6 preheater. Bag filters are to be updated, software for the con... |
Ramco Cements announces capex and price rise09 June 2022, Published under Cement NewsRamco Cements has announced capex of INR12-13bn (US$154-167m) to expand its production capacity over the next two years. At its Kurnool plant, trial production of clinker is now underway and with this, clinker capacity has expanded to 13.65Mta. The cement grinding facility, 6MW waste heat recovery system (WHRS), and an 18MW thermal power plant (TPP) are due to be commissioned during 2QFY23, according to the Financial Express. An additional 1-1.5Mta of grinding capacity is also planned in K... |
Carbon Clean raises US$150m in latest round of funding12 May 2022, Published under Cement NewsCarbon Clean has closed the largest-ever equity funding round for a point source carbon capture company with US$150m raised from existing investor Chevron. Chevron led the round alongside Cemex Ventures, Marubeni Corp and WAVE Equity Partners, as well as new investors, including AXA IM Alts, Samsung Ventures, Saudi Aramco Energy Ventures and TC Energy. So far, Carbon Clean has raised US$195m, having closed its US$30m Series B investment round in August last year. This new funding will h... |