04 August 2014
Brazil becomes the fourth-largest global consumer of cement 04 August 2014
Brazil: According to Datamark, the Brazilian cement industry has doubled in size, moving from 10th place to 4th place in terms of global consumption. Currently, Brazil's cement consumption is only behind the US, India and China. It is expected that Brazil's cement consumption will reach 75Mt/yr by 2016 and 85Mt/yr by 2020.
Cementos Yura invests in new cement plant 04 August 2014
Peru: Cementos Yura, a Gloria Group subsidiary, has invested US$50.0m in machinery and equipment for a new cement plant. The company is building capacity to meet the demand of large construction projects in Southern Peru. In the first half of 2014, Yura reported US$39.2m in profit, down from US$39.9m in the same period of 2013. Yura's domestic market share fell from 22% in the first half of 2013 to 21.7% during the same period of 2014.
Cherat Cement to install new production plant 04 August 2014
Pakistan: Cherat Cement Company Limited will invest US$197m to install a new production plant at its existing site in Nowshera, Khyber Pakhtunkhwa Province. The new plant will have a 1.3Mt/yr production capacity and will be commissioned in 30 months, according to Abid A Vazir, executive director of Cherat Cement.
The term-loan for the project has been arranged and Cherat Cement has established a letter of credit for the foreign component of the loan. The plant will be acquired from China's Tianjin Cement Industry Design and Research Institute Company Limited.
Cherat Cement expects domestic cement demand to grow exponentially as the present government has planned spending on major infrastructure projects, with a special focus on constructing highways and hydropower and housing projects. Cherat Cement is also expecting huge spending by the private sector on construction-related activities, fuelled by inflows of remittances from expatriate Pakistanis.