27 May 2019

India: India Cement net profit fell to US$2.74m in the year to 31 March 2019 from US$9.56m in the same period in 2018. It blamed competition in the south of the country and low prices in the first nine months of the year. Its power and fuel costs also rose during the period. Despite this its income grew by 6% year-on-year to US$836m from US$785m. Its cement sales volumes rose by 11% to 12.4Mt from 11.2Mt.

Iraq: Etihad Al Saqar has entered into a US$260m contract with China Machinery Engineering for a new cement plant. The unit will have a clinker production capacity of 6000t/day and will use a 52.2MW heavy fuel oil power plant, according to ET Net News. China Machinery Engineering, as the general contractor, will be responsible for the design, supply, civil engineering and construction, installation, training, commissioning, warranty and other works of the project. Construction is expected to last 30 months.