29 May 2015
India: Anjani Portland Cement has reported a net profit of US$2.48m in the quarter that ended on 31 March 2015 compared to a net loss of US$2.21m during the same quarter of 2015. Sales rose by 12.3% year-on-year to US$12.9m.
For the full year that ended on 31 March 2015, its net profit was US$2.62m compared to a net loss of US$3.04m during the previous year. Sales declined by 6.25% to US$4.06m in the 2015 financial year.
Ghana: The Ghana Cement Manufacturers Association (GCMA), which comprises Ghacem Ltd, Diamond Cement Company Ltd and Savannah Diamond Company Ltd, has appealed to the Ministry of Finance to urgently commence investigation into what it described as the tax liabilities of certain importers of bagged cement into the country.
In a letter dated 26 May 2015 and addressed to the director of taxes at the Finance Ministry, the GCMA said that it had gathered that two importers, SOL Ghana Ltd and Fujiman Sentuo, had allegedly declared cost, insurance, freight (CIF) values of about US$27/t and US$30/t respectively. The letter, jointly signed by George Dawson-Ahmoah, chairman and N Venketash, vice chairman / secretary, stated, 'The alleged values to us as seasoned manufacturers in the cement industry are unbelievable and call for the attention of the tax authorities. Such values, when confirmed, are under-valued leading to huge financial loss to the nation."
Egypt: Lafarge Industrial Ecology (Ecocem) has signed two major contracts to manage and operate existing refuse-derived fuel (RDF) platforms in Suez and Qalyubeya in Egypt.
In an effort to continue its efficient waste management processes, the company has signed a year agreement to renovate and upgrade the platforms in Suez and another separate 10-year agreement to manage and operate the existing platforms in Qalyubeya. Lafarge Ecocem has already added a new production line to the Suez platform and plans an additional line within one year of signing its contract with the governorate. The plant will produce 42,000t/yr of RDF and the investment will total US$1.66m.
Ecocem has also already added an extra line to the Qalyubea plant, in addition to renovating one production line. The company's future investments in the governorate will increase the RDF production capacity by 32,000t/yr to 280,000t/yr. Both investments at the Qalyubeya plant were funded by GIZ and the Bill and Melinda Gates Foundation with a total Investment of US$1m.
"In line with our 'Building Egypt 2030' campaign, Lafarge is committed to help solve the issue of waste in Egypt and to continue taking the necessary steps towards sustainable development," said Hussein Mansi, CEO of Lafarge Egypt. "At Lafarge Egypt, we feel it is our responsibility as a leader in building solutions to be the major proponents in waste management and plan to continue finding many opportunities to make a difference."
Building on its waste management strategy, Lafarge Ecocem is committing to several additional long-term contracts with different governorates to help convert municipal solid wastes to alternative fuels. In addition, in March 2015, Lafarge Egypt and Orascom Telecom Media and Technology Holding S A E signed a memorandum of understanding to develop a waste management framework of municipal and agricultural waste.
Lafarge Egypt and Ecocem have implemented many projects over the past three years in order to increase the use of alternative fuels and aim to achieve an average fuel substitution rate of 25% by the end of 2015. More than 260,000t of waste have been processed and fired in Lafarge's Sokhna plant since 2013, an equivalent of 100,000t of fossil fuels.
Turkey: Votorantim Cimentos has announced a Euro140m investment in the expansion of its cement plant in Sivas, Turkey. The investment is the largest carried out in Sivas' history and will increase the plant's current production capacity by three times, from 0.6Mt/yr to 1.8Mt/yr.
The investment will allow Votorantim Cimentos, which currently operates in the country at full capacity, to increase its market share in Turkey. The Sivas plant currently accounts for about 19% of Votorantim Cimentos' 3Mt/yr production capacity in Turkey. After the expansion, it will account for 42% of the company's total production capacity in the country.
"Votorantim Cimentos sees the potential of Turkey's construction sector and this investment shows our commitment to reinforcing our presence in Turkey. Sivas' expansion will bring a crucial dynamism and competitiveness to the company in the Turkish cement market," said Mustafa Şefik Tüzün, CEO of Votorantim Cimentos in Turkey.
Groundbreaking at the plant will take place in June 2015 and construction work will employ around 700 people. Cement production will begin in 2017. The plant will supply the market with CEM I and CEM II, the most in-demand products in the Turkish cement market.
Votorantim Cimentos recently announced a Euro1.61bn investment package for 2015 - 2018. The company will invest in five new plants in Brazil, one in Bolivia, as well as in the expansion and modernisation of existing units, such as the one in Sivas.