Displaying items by tag: Investment
Equatorial Guinea: A new five-year service agreement has been signed with SSB International Limited (SSBIL) to provide expertise and supervisory support for the operation and maintenance of Abayak Cement’s plant in Akoga. The plant, equipped with key technology including an OK™ Mill and a ROTAX-2® Kiln supplied by FLSmidth, has been largely idle since its installation in 2016 due to power supply issues. With recent investments in a new power plant and the reactivation of equipment, however, commissioning is underway and is expected to co be complete by mid-2024.
Santa Cruz sees record high for cement production
16 April 2024Bolivia: National cement production reached a record 4Mt in 2023, despite a noted decline in exports, according to the Bolivian Institute of Foreign Trade (IBCE). Santa Cruz contributed 27.4% to the total cement output, followed closely by La Paz with 26.8%, and Chuquisaca at 18.3%. According to Noticias Financieras News, this output is largely due to investments by cement companies in Santa Cruz, such as Itacamba's US$220m investment in a new plant in 2016, which has a production capacity of 870,000t/yr. Other firms like Soboce and Fancesa have also invested in the region. The construction industry in Santa Cruz grew by 3% in 2023, although this was a decrease in growth rate compared to previous years.
Philippines: Holcim Philippines will invest US$35m in sustainability initiatives at its four plants over the next three years. The investments will also include US$17.5m for its waste management arm, Geocycle, increasing capacity for local government unit waste processing.
Chief sustainability officer Samuel Manlosa Jr. said "There is also a side where, if we want to take in more volume, we need to increase our capacity to shred and prepare the materials. Our cement plants, even as sophisticated and technologically advanced as they are, were constructed 20 years ago when norms were different, so we had to make changes in the process to make sure that the plants were able to accept more."
The company will further invest between US$8.7m and US$17.5m in renewable energy and electrification of its vehicle fleet. President and CEO Horia Adrian said "We are purchasing electricity right now, but we have plans to put in place solar facilities and we are looking at the possibility of using electricity generated from biowaste here. By the end of 2024, some of them should be ready."
He concluded that investments at the Bulacan and La Union plants are set to start this year, with those in Davao and Lugait scheduled for 2025.
Germany: Heidelberg Materials has begun work on the GeZero project at its Milke plant in Geseke. The €500 million project will implement carbon capture and storage (CCS) technology to prevent the release of CO₂, instead capturing and storing it under the North Sea. According to the Westfälische Rundschau, the project has secured €191m in funding from the EU, with Heidelberg Materials covering the remaining amount. The company anticipates completing the plant conversion by 2029, with interim CO₂ transport via rail and potential future pipeline connections. According to the company, around 700,000t/yr of CO₂ is currently produced by the plant.
There had been potential changes in project partnerships due to the sale of BASF subsidiary Wintershall Dea, which was to provide the transport and storage solutions, to Harbour Energy. However, plant manager Steffen Gajewski expects that planning for the conversion of the plant will be completed in 2025, when the new oxyfuel kilns to capture the CO₂ will be ordered and installed.
Germany: Holcim is investing a three-figure million sum into its cement plant in Lägerdorf, Steinburg, according to the Segeberger Zeitung. The plant will employ a second-generation oxyfuel kiln line to increase the concentration of CO₂ in the flue gas during clinker production. The project aims to capture 1Mt/yr of CO₂. The new kiln line is expected to be operational by 2029.
State Secretary for Energy, Joschka Knuth, said "The decarbonisation of Holcim is a very important signal for the entire industrial location of Germany."
Holcim US invests in Midwest operations
05 April 2024US: Holcim US has announced an investment of US$20.5m in its Midwest operations. A key component of the investment is the new 35m-high cement storage dome in Fremont, Nebraska, which will increase its production capacity of ECOPlanet low-carbon cement. The dome has the capacity to store 50,000t of cement. Construction of the dome, which began in 2021, has contributed to local economic development and job creation at the terminal.
In line with the Nebraska Department of Transportation's blended cement requirement, the cement blended and distributed at the terminal incorporates natural pozzolan, a binding agent, to produce a lower carbon product compared to ordinary Portland cement.
Neocrete raises US$4m seed round for scaling and plant
26 March 2024New Zealand: Neocrete, a New Zealand start-up that decarbonises concrete production, has raised US$4m in seed funding. Wavemaker Partners, a Singapore-based venture capital firm, led the funding round with a 15% stake for US$2.7m. The funding also included contributions from five other investors, including NZ Green Investment Finance, which acquired a 3.8% share for US$700,000. Neocrete, founded in 2018, has developed an additive that can reduce the cement in concrete by 30-50% without loss in strength, increasing its durability.
Wavemaker Partners' managing partner Paul Santos said "Neocrete is designed to scale rapidly by using a cost-efficient production process that can leverage existing infrastructure."
Zarina Bazoeva, Neocrete co-founder and CEO, said that the funding will enable the company "to scale to meet initial global demand for Neocrete’s additive”. The company plans to complete setting up an Auckland manufacturing facility and scale up a research and development programme, "which is on track to produce cement-free, zero-carbon concrete by 2027,” according to Bazoeva.
Shera invests in Philippine fibre cement board plant
15 March 2024Philippines: Shera is investing US$36m to establish its first production hub in the Philippines. Announced by Thunnop Jumpasri, president and country head for Philippines and Malaysia, the move marks a significant expansion in response to the robust growth in the local construction sector.
The new facility, located in Pampanga, commenced initial operations in 2023 and is anticipated to be fully operational by October 2024. With an initial capacity of 100,000t/yr, expected to double in the coming years, the plant will create 150 jobs. After 15 years of supplying fibre cement boards from Thailand and achieving US$27m in Philippine sales last year, Shera aims for 10-15% growth in 2024.
Thunnop Jumpasri said "This will be our first plant outside of Thailand. We plan to export to other countries from the Philippines to Taiwan, Korea and some parts of China, but we prioritise the Philippines first for now."
India: Adani Group will invest US$603m in the construction of a 4Mt/yr clinker plant at Chorgadi and grinding plants in Dewas and Bhopal. The combined capacity will be 8Mt/yr. The move is part of a US$9bn investment which the company says will create 15,000 jobs across various sectors.
Cementos Argos to invest US$128m in operations in 2024
04 March 2024Colombia: Cementos Argos will benefit from US$128m in new investments in 2024. Reuters has reported that the investments will focus on enhancing operations and quality assurance. Parent company Grupo Argos plans to invest a total of US$509m in its subsidiaries throughout the year.