14 August 2015
Jaypee Cement wins major coal block 14 August 2015
India: The third tranche of coal auctions that came to an end on 13 August 2015 included the successful US$281m bid for the Majra mine in Maharashtra by Jaypee Cement. This translates to US$18.89/t.
Misr Beni Suef profit up in first half 14 August 2015
Egypt: Misr Beni Suef Cement has announced a net profit of US$6.9m for the first half of 2015, compared to a net profit of US$2.2m in the same period of 2014.
Attock Cement reveals results and expansion plans 14 August 2015
Pakistan: Attock Cement has released its results for the 2015 Pakistani fiscal year, which ended on 30 June 2015. The company earned a net profit of US$21.7m, a 9.5% increase on the US$19.6m that it made in the year to 30 June 2014. Its revenue rose by 4.3%, from US$122.7m to US$127.6m.
The results were released at the same time as an announcement of the company's expansion plans. In a notice sent to the Karachi Stock Exchange, Attock Cement announced the expansion of its production capacity by installing a US$120m cement kiln line at its existing facility in Hub, Balochistan.
Attock Cement is the third cement manufacturer to announce an expansion after DG Khan Cement and Cherat. There is anticipation that the government will shortly ramp up infrastructure developments, leading to anticipation that there will be higher demand for cement in the coming years.