Cement News tagged: Corporate
Lafarge Cement Zimbabwe appoints new Acting CEO
Lafarge Cement Zimbabwe Ltd has appointed Innocent Zulu Chikwata as Acting Chief Executive, effective from 1 December 2022. Mr Chikwata has 16 years experience in the fast-moving consumer goods and construction materials industries and has worked for Colcom, Innscor Africa Group and LafargeHolcim. He has held various positions in sales, marketing and operations with PProfit & Loss oversig...
Yanbu Cement pays out US$31m in dividends
Yanbu Cement Company is to pay out cash dividends worth SAR118.12m (US$31.49m) to shareholders in the second half of 2022. This represents 7.5 per cent of capital. According to the bourse disclosure, the Saudi Arabia-based company will disburse SAR0.75 per share for 157.5m eligible shares. The cement producer reported a 4.38 per cent YoY advance in net profit after zakat and tax to SAR15...
Lafarge Egypt to increase AR rate to 50%
Lafarge Egypt plans to increase its alternative fuel rate to 50 per cent in the near future. Speaking at the Euromoney Egypt Conference 2022 in Cairo last week, Ahmed Khalifa, chief financial officer and IT director at Lafarge Egypt, said the company had already reached 20 per cent alternative fuel use as part of its vision on transition to energy mix, according to Egypt’s 2050 strategy, rep...
Chongqing Sifang resumes operations
China-based cement producer Chongqing Sifang New Materials has resumed operations following the lifting of COVID-19 restrictions in the country, according to Reuters. Prolonged pandemic control measures in China, coupled with the monsoon season in the south, kept demand for construction materials weak in the second quarter of 202s, reported Fitch Ratings. Government stimulus packages pl...
SOCOCIM Industries to arrange IFC loan for Kiln 6 project
Senegal-based SOCOCIM Industries (VICAT group) is organising a debt facility with the International Finance Corporation (IFC) to construct a high fuel-efficient Kiln 6. The total project cost is expected to be up to EUR260m. IFC’s financing consists of up to EUR120m IFC A-loan and up to EUR120m equivalent in parallel loans. The investment includes the equipment for a complete clinker li...
Jaiprakash Associates convenes divestment meeting
Jaiprakash Associates ( Jaypee Group ) has informed that a board meeting has been convened to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives. Jaypee Power Ventures (Jaypee Group) will hold a board meeting on Monday, 12 December to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh. In a ...
Crown Cement commences construction of its 6th line
Crown Cement PLC (formerly MI Cement Factory Ltd) has announced the commencement of construction work on its sixth line at the existing factory premises at West Mukterpur, Munshiganj, Bangladesh, with a capacity of 8000tpd to increase the overall capacity of the company from 11,000tpd to 19,000tpd. The investment amounts to BDT7.07bn (US$8.6m), according to the latest annual report 2021-22,...
Siam Cement Group enters JV for new ACC plant
Thailand-based Siam Cement Group (SCG) has entered into a joint venture (JV) with India’s BigBloc Construction (BCL) to build a greenfield plant to manufacture aerated autoclaved concrete (AAC) blocks and AAC panels. The JV, known as Siam Cement BigBloc Construction Technologies, is 52 per cent controlled by BCL and 48 per cent controlled by SCG. The new works marks an investment of INR6...
Cementa's time-limited extraction permit stands
The Supreme Administrative Court (HFD) has decided that the time-limited extraction permit, which the government announced to Cementa ( Heidelberg Materials ) in the fall of 2021, must stand. HFD made the assessment that the government's decision on a time-limited permit does not contravene any legal rule. This means that limestone quarrying and cement production in Slite can continue a...
Holcim Bulgaria awarded 35-year concession
The Bulgarian government has granted Holcim Bulgaria a concession for the Marudnicite West sand and gravel deposit near Sofia for 35 years. The deposit is located between the villages of Negovan and Chepintsi on the northeastern outskirts of the city. Holcim Bulgaria plans to invest over BGN2.6m (US$1.4m) to ensure extraction and pre-production activities at the site for the duration of t...
CIMERWA posts end of year revenue of RWF92.1bn
CIMERWA Plc 's year-end financial results recorded revenue of RWF92.1bn (US$84.6m) in 2022, 37 per cent above the previous year. “This is mainly attributed to the optimisation of our production processes, cost savings initiatives and the effective execution of our route-to-market strategy for both our domestic and export markets,” said John Bugunya, CFO of CIMERWA Plc. “Our Profit B...
Groundbreaking at JK Cement's Madhya Pradesh grinding plant
JK Cement has performed a groundbreaking ceremony for its 1.5Mta greenfield grinding unit in Madhya Pradesh’s Ujjain district. Construction and installation activities have commenced with an investment of INR4000m (US$48.5m) Currently, JK Cement has two operating units in the state, a greenfield integrated cement plant at Panna and a wall putty plant in the district of Katni. The company...
Adbri reviews Kwinana project as costs escalate
Adbri Limited has issued an update on its Kwinana project to consolidate two existing cement production sites into a single operation serving the Western Australian (WA) market. Following the appointment of Interim CEO Mark Irwin on 17 October 2022, Adbri accelerated its review of the project and engaged an expert engineering firm to undertake an external review. The initial findings ha...
JK Cement begins clinker production at Panna site
JK Cement commenced clinker production at its new site in Panna , Madhya Pradesh, India on 3 December 2022. The new facility has a production capacity of 2.64Mta.
INSEE Vietnam begins construction on new mill
INSEE Vietnam , a subsidiary of Thailand’s Siam City Cement Public Company Ltd (SCCC), has begun construction of its Thi Vai grinding mill No2. The new mill, which marks an investment of over US$35m, will help meet rising cement demand in the Southeast region, according to Vietnam News.
UltraTech Cement commissions 3.6Mta of new grinding capacity
UltraTech Cement Co has announced the commissioning of its 3.6Mta of new grinding capacity in India. Firstly, the 1.8Mta greenfield grinding capacity at the Dhule Grinding Unit , Maharashtra has been commissioned. Secondly, the commissioning of the 1.8Mta brownfield, clinker backed, second line grinding capacity at Dhar Cement Works , Madhya Pradesh, has been completed. This forms pa...