Displaying items by tag: Grupo Gloria
Yura to establish solar photovoltaic plant in Arequipa
22 March 2024Peru: Grupo Gloria subsidiary Yura plans to build a solar power plant in Yura, Arequipa. The plant will have a peak power of 31MWp and a nominal power of 27MW. The installation involves a 1.3km-long, 30kV transmission line. Gestión News has reported that the project is intended to reduce the costs associated with the company’s cement production.
Yura announces Arequipa expansion
29 September 2023Peru: Cemento Yura has announced plans to expand its cement plant in Arequipa. Luis Diaz, vice-president of the Cement, Concrete and Lime Division of Gloria Group, the parent company of Cemento Yura, announced the plans during the Perumin 36 Mining Convention, which also took place in Arequipa on 26 - 29 September 2023.
Speaking to the Gestión newspaper, Diaz revealed that Yura is finalising a project to double its capacity. The plant currently has a capacity of 3Mt/yr, most of which is produced by its largest line, Line 3. The new line will cost US$132m and have a capacity of 3Mt/yr.
Diaz reported that engineering studies were complete and that environmental impact permits were in the process of being acquired. No additional area will be required for the new line, which is expected to be operational in 2027.
Peruvian cement demand to decline in 2023
21 September 2023Peru: The Central Reserve Bank of Peru expects national cement consumption to fall by 3.7% in 2023. The Gestión newspaper has reported that demand declined month-on-month over seven successive months up to August 2023. It fell by a double-digit figure year-on-year in the first half of 2023. In August 2023, imports of cement declined by 95% month-on-month, to 2000t from 38,000t.
Peruvian Chamber of Construction executive director Guido Valdivia said "The first factor to consider is El Niño. If it starts in November 2023, it will affect construction output in 2023; if it is postponed to 2024, we expect a drop of only 3.3% in 2023.″ The Peruvian Property Developers’ Association (ASEI) forecast a 4% drop in construction output in 2023, followed by growth of 3.2% in 2024.
Grupo Gloria’s vice president, cement, concrete and lime, Luis Díaz told investors that the gap between Peruvian cement production and consumption will close ‘substantially’ during the remaining months of 2023, due to raised demand from infrastructure projects.
Peruvian competition authority fines Yura and Raciemsa
01 March 2023Peru: The Peruvian National Institute for the Defence of Free Competition and the Protection of Intellectual Property (Indecopi) has fined Yura and fellow Grupo Gloria subsidiary, transport company Racionalización Empresarial (Raciemsa), US$15.7m for abuse of their dominant position. Local press has reported that the companies conducted anti-competitive practices in Arequipa, Cusco, Moquegua, Puno and Tacna, where Yura holds an over 90% market share, between October 2014 and April 2019. Alleged practices included threatening to restrict the supply of Yura cement to enforce exclusive supply contracts and restricting access to Yura cement plants for trucks transporting cement from other producers.
Yura considering cement capacity growth
03 October 2022Peru: Grupo Gloria subsidiary Yura says that it is contemplating a cement production capacity expansion. The producer says that process optimisation across its Arequipa and Southern Peruvian cement footprint might go some way towards achieving the envisioned growth. It added that any such projects would go hand in hand with a reform of its customer service practices. Yura is also evaluating possible new limestone mining projects at Pampas del Pongo and Zafranal, and an expansion of its lime production.
DF Sud News has reported that Yura expects to increase its Peruvian cement deliveries by 8 – 10% year-on-year in 2022. Its cement, concrete and lime director for Peru, Chile and Bolivia, Julio Cáceres, forecasts that Peru’s construction demand will continue to grow at twice the rate of gross domestic product. He acknowledged that the company’s 2023 results will likely reflect the country’s expected muted growth compared to 2022. Cáceres said that US$700m-worth of private investment across 30 residential projects in Arequipa is currently suspended, pending the publication of the city’s revised metropolitan development plan.
Bolivia/Mexico/US: The US District Court of Colorado has confirmed compensation of US$36.1m awarded to Bolivian investment company Compania de Inversiones Mercantiles (CIMSA) from Mexico’s Grupo Cementos de Chihuahua (GCC). The arbitration follows a dispute that started in 2011 between CIMSA and GCC about the sales of shares in the Sociedad Boliviana de Cemento (SOBOCE) to Consorcio Cemento del Sur de Perú.
GCC said that it will continue to dispute the ruling and that it would continue to fight the legal case in Bolivia. In 2015 local courts in Bolivia overturned damages imposed by the Inter-American Commercial Arbitration Commission (CIAC) upon GCC.
Grupo Gloria expands Cal & Cemento Sur lime plant
12 June 2017Peru: Grupo Gloria says that a US$80m upgrade project at its Cal & Cemento Sur lime plant at Caracoto-Juliaca near Puno is underway. Construction of a sixth line at the site scheduled for completion for the end of 2017, according to the Gestión newspaper. The new line will increase production by 1000t/day to 2000t/day. The investment follows a US$120m investment since 2012 that will see the plant’s production capacity rise to 1Mt/yr by the end of 2017 from 0.13Mt/yr in 2013.
US: The GCC (Grupo Cementos de Chihuahua) Dacotah cement plant in Rapid City has started a US$90m upgrade. The project will include new kiln equipment, provision for co-processing alternative fuels and improvements to the plant’s shipping operations, according to the Rapid City Journal. The upgrade will increase the plant’s cement production capacity to 1.3Mt/yr.
The plant was founded by the South Dakota state in the 1920s and sold into private ownership in 2001. It employs 130 full-time employees. The upgrade is expected to create 13 new full-time jobs.
Grupo Gloria to spend US$217m on Yura upgrade
17 July 2013Peru: Peruvian industrial conglomerate Grupo Gloria plans to invest US$217m towards upgrading production at its Yura cement plant near Arequipa. The plant currently has a cement production capacity of 3.5Mt/yr and the upgrade is expected to double production by 2016.
The project will include the installation of a new clinker line with a capacity of over 4500t/day, a new cement mill and bagging, pallet and loading equipment. The work will create more than 3000 direct jobs and over 9000 indirect ones.
Construction is set to start in 2013 with the mill complete by mid-2014 and the new clinker line ready by the end of 2016. Grupo Gloria is targeting the additional cement capacity at the south of Peru and Bolivia.
Chihuahua to sell Soboce stake to Peruvian group
22 August 2011Bolivia/Peru: The Mexican cement maker Grupo Cementos de Chihuahua (GCC) has announced that it has finalised the sale of its 47% stake in Bolivian peer Sociedad Boliviana de Cementos (Soboce) to a unit of a major Peruvian conglomerate. GCC said that its stake in Bolivia's top cement maker would go to Consorcio Cementero del Sur, S.A., a subsidiary of the agroindustrial Grupo Gloria. It gave no details regarding the value of the deal.
"Proceeds from the transaction will be used primarily for debt reduction, in line with the company's goal of improving its financial profile and strengthening its core businesses in the US and Mexico," said GCC in a statement.
Previously, in April 2011, a judge in Bolivia ordered a freeze on assets held by Soboce, 53% of which is owned by a group controlled by Samuel Doria Medina, who is a political rival of the country's President Evo Morales.