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Hanil Hyundai Cement orders waste heat recovery power unit for Yeongwol cement plant from Kawasaki Heavy Industries 20 July 2021
South Korea: Hanil Hyundai Cement has placed an order with Japan-based Kawasaki Heavy Industries for the design and installation of a 22.6MW waste heat recovery (WHR) unit at its Yeongwol cement plant in Gangwon. The WHR plant will generate power from heat from two of the plant’s production lines when commissioned in December 2022. The supplier says that it will serve 30% of the plant’s energy needs. Kawasaki Heavy Industries says it has previously supplied WHR units to Japan, Germany, South Korea, Turkey, China, Vietnam, India, Pakistan and elsewhere.
Securities and Exchange Board of India approves Nuvoco Vistas’ US$670m initial public offering 20 July 2021
India: Nuvoco Vistas has received approval from the Securities and Exchange Board of India to launch an initial public offering (IPO) of shares worth US$670m. The Hindu newspaper has reported that the offering will consist of a US$201m issuance of shares and a US$469m offer for sale. Around US$180m of the funds will be used to reduce the group’s debts and the remainder will be used for general corporate purposes.
Peru: Cement production in the 12 months ending on 30 June 2021 was 12.2Mt, up by 43% year-on-year from 8.54Mt in the previous 12 months. Data from the Association of Cement Producers (ASOCEM) shows that local dispatches totalled 11.9Mt, up by 42% from 8.41Mt.
Cement exports recorded a drop, down by 7% to 0.16Mt from 0.17Mt, while clinker exports rose by 44% to 0.52Mt from 0.36Mt. High demand led to an increase in imports to 0.94Mt of cement, up by 59% from 0.59Mt, and 1.41Mt of clinker, almost triple the previous year’s volume of 0.48Mt.
CBB slashes Matarani cement grinding plant budget 20 July 2021
Peru: Chile-based CBB, formerly Cementos Bío Bío, has reduced the budget for its planned Matarani cement grinding plant near Arequipa by 79% to US$8.95m from US$42.5m. According to the Gestión newspaper, the producer had previously secured and environmental permit for the unit.
Georgia: HeidelbergCement Georgia plans to invest in additional grinding capacity at both of its cement plants. The subsidiary of Germany-based HeidelbergCement says that it will complete expansion work at both plants by the 2022 production season. It is also contemplating the possibility of clinker capacity expansions.
In early July 2021, Georgia experienced a cement shortage due to the release of pent-up demand from infrastructure projects and reduced imports from Turkey and Azerbaijan.