08 June 2017
French Guiana: Colombia’s Cementos Argos plans to supply 21,000t of cement for a launch pad for the Ariane 6 launcher being built by the European Space Agency. Argos is providing three difference types of cement for the project that is scheduled for completion in 2018 and inauguration in 2020. The project has a budget of Euro600m and around 800 personnel are working on the construction site.
Ohorongo Cement preparing to build solar plant 08 June 2017
Namibia: Ohorongo Cement has held a ground breaking ceremony for a 5MW solar plant at its Sargberg cement plant in North Otavi. The site is being developed and built by Germany’s SunEQ and its local partner Hungileni. The US$7.8m project is scheduled to start operation by the end of 2017.
“Electricity is of paramount importance to our operations and constitutes 25% of our production requirements. We are aware of the country’s precarious energy situation and hence took the decision to tap into the renewable energy resource which our country is endowed with,” said Hans-Wilhelm Schutte, Ohorongo Cement’s managing director.
Ohorongo Cement has signed a 15-year power purchase agreement with SunEQ. Construction of the plant will start once SunEQ has obtained a generation license from the Electricity Control Board.
Iraq: China North Industries Corporation (Norinco) has signed a US$445m deal with Jabal Bazian Co for General Trading to build a cement plant. The contract includes the plant's production line design, purchasing, construction management, operational work as well as assorted administration buildings, dormitories, dining halls and other facilities, according to the Global Times newspaper. The plant is scheduled for completion in the second half of 2019.
South Africa: PPC has blamed its poor performance in its financial year to 31 March 2017 on a poor credit rating from S&P Global Ratings. Its chief executive officer Darryll Castle complained about a liquidity crisis caused by the downgrading of PPC’s credit ratings to junk status by S&P Global Ratings in May 2016. He also attributed the result to falling cement prices in South Africa and poor weather in early 2017.
The cement producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 13% year-on-year to US$160m for its financial year that ended on 31 March 2017 from US$184m in the same period in 2016. Despite this its sales revenue rose by 5% to US$745m from US$711m and its cement sales volumes rose by 1.6% to 5.54Mt from 5.45Mt.
PPC reported that its 1Mt/yr production line at PPC Slurry is on schedule for commissioning in the first half of 2018. Its 1.4Mt/yr plant in Ethiopia started selling cement in May 2017 and sales are expected to rise as the plant ramps up production.