Displaying items by tag: GCW273
Aumund and Sweidan offer spare parts stock in Saudi Arabia
17 October 2016Saudi Arabia: Aumund Fördertechnik and Sweidan Industrial Services have opened new spare parts stock at their Riyadh warehouse. In addition a local Aumund supervisor will be present to support customers.
Elementia to buy 55% stake in Giant Cement Holding
14 October 2016US: Elementia has signed a letter of intent with Cementos Portland Valderrivas to buy 55% of Giant Cement Holding for an undisclosed value. Giant Cement Holding is a US cement producer with operations on the east coast that includes three cement plants, three limestone quarries, two aggregate quarries, six terminals and four waste handling facilities.
In a statement Elementia said that the acquisition would grant it access to the third-largest cement market in the world. The acquisition is subject to obtaining all applicable regulatory approvals and the completion of the internal processes by both companies.
Uzbekistan: Ahangarancement has increased its cement production by 6% year-on-year to 1.42Mt in the first nine months of 2016. Clinker production grew by 3.8% to 1.02Mt and cement sales volumes grew by 6.1% to 1.42Mt, according to the Trend News Agency. Ahangarancement, based at Ahagaran in Tashkent, is the second largest cement producer in the country. It is owned outright by Russia’s Eurocement.
China Machinery Engineering to build cement plant in Iraq
14 October 2016Iraq: China Machinery Engineering Corporation has signed a US$250m deal to build a cement plant at Qarachog. Once operational the unit will produce 6000t/day of clinker. The scope of the contract includes project design, supply, civil construction, installation, training and commissioning. Once construction starts the project will take 22 months to complete.
India: JK Cement’s Chief Financial Officer AK Saraogi has forecast that cement demand will rise by 8% in the 2017 – 2018 financial year due to government spending on infrastructure. JK Cement Special Executive Madhavkrishna Singhania said that demand in the current financial year is likely to be aided by ‘good’ monsoons that will boost spending particular in rural areas, according to the Press Trust of India. The forecasts follow several years of poor demand for cement in the country. Ratings agency ICRA also predicts similar increases in demand.
LafargeHolcim buys stakes in SCB Lafarge Benin and Cimencam
13 October 2016Benin/Cameroon: LafargeHolcim Maroc Afrique has purchased a 50% stake in SCB Lafarge Benin and 54.7% in Cimencam in Cameroon. Amounts for the deals have not been disclosed, according to the Ecofin Agency. LafargeHolcim Maroc Afrique, a joint venture between Lafarge Holcim and the Société nationale d’investissement also bought Socimat in Cote d’Ivoire in July 2016.
SCB Lafarge in Benin produces about 600,000t/yr of cement and Cimencam produces 1.7Mt/yr. The new acquisitions are part of LafargeHolcim’s expansion strategy across Africa. Countries with high growth potential such as Burkina Faso, Gabon, Mali, Mauritania, Congo, DRC and Senegal have also been targeted.
Sagar Cements to raise funds for upgrades
13 October 2016India: Sagar Cements is planning to raise funds to finance expansion of its cement grinding plant at Vizag in Andhra Pradesh as well as to set up a coal-fired power plant at its plant at Nalgonda in Telangana. A directors board meeting has been scheduled on 19 October 2016 to discuss proposals for the financing.
India: The Hynniewtrep Achik National Movement (HANM) has demanded that the state government of Meghalaya cancel a public hearing to discuss the construction of a plant by Dalmia Cement at Thangskai scheduled for 25 October 2016. The group is protesting about mining rights to the site, according to the Meghalaya Times.
"We strongly express our opposition and demand that the proposed public hearing for extraction of limestone from Thangskai village by the Dalmia Cement factory is immediately revoked," said HANM- East Jaintia Hills president Ency Shadap. The group has also asked that the state government give a public clarification on its decision to grant permission to the cement company to extract limestone from the district and cited certification issues with the Ministry of Forest & Environment.