Displaying items by tag: China

China: Anhui Conch Cement has recorded a profit of US$2.33bn in the first half of 2020, up by 5.3% year-on-year from US$2.21bn in the first half of 2019. Revenues rose by 3.3% to US$10.7bn from US$10.4bn. The company attributed the increases to the resumption of construction across Asia after the coronavirus lockdown and increase sales in western China throughout the period.

China: China Resources Cement (CRC)’s first-half net profit increased by 11% year-on-year to US$541m in 2020 from US$481m in 2019. This was in spite of a 3% fall in revenues to US$2.18bn from US$2.25m. CRC said, “The gradual stabilisation of infrastructure construction and the real-estate market - as well as the steady progress of urbanisation and rural construction - will be conducive to the stable development of the cement industry."

Mozambique: China-based International Cement Group has confined builders working on the construction of its integrated Salamanga cement plant in Maputo Province to the site of the upcoming plant since March 2020. BBC news has reported that 60 Mozambicans have been living in temporary accommodation without being able to leave the site “in order to prevent possible transmission of coronavirus from workers,” according to the company. The group agreed to permit workers to leave from 23 August 2020 following action by a local lawyer.

Democratic Republic of Congo: Police are investigating the murder of a Chinese worker at the quarry of a cement plant that is being built near Kolwezi, the capital of Lualaba province. The employee of Carrilu was killed in an attack on the site by ‘bandits,’ according to the Agence France Presse. Two other people were also assaulted in the incident. Armed attacks against businesses and residents have been reported regularly in the region.

The Lualaba Carrilu cement and lime plant is a project being managed by China-based Zijin Mining Group. It is expected to start operation in autumn 2020.

China: Tangshan Jidong’s net profit in the first half of 2020 was US$140m, down by 33% year-on-year from US$210m to US$246m. Cement sales fell by 14% to US$1.58bn from US$1.83bn, while clinker sales fell by 11% to US$218m from US$246m. The Hebei Province-based group attributed the sales fall to the effects of the coronavirus lockdown in early 2020.

Vietnam: Producers have reported a 5.4% fall in value of cement and clinker exports to US$732m in the first seven months of 2020 from US$774m in the corresponding period of 2019. Volumes increased by 11% to 19.5Mt from 17.6Mt. Dautu Online News has reported that Bangladesh, China and the Philippines were among import markets for Vietnamese cement.

The Ministry of Construction maintains its 2019 projection of 32Mt – 33Mt of cement and clinker exports in 2020.

China: China Tianrui Group Cement says that it has secured a loan worth US$14.4m. Reuters has reported that a Chinese bank granted the loan, which will support capital expenditure projects in the current fiscal year.

South Africa: PPC has said that it may issue a rights offer for US$68.7m-worth of shares in order to raise funds to ‘repay and restructure debt locally and in other African markets, and to refinance after the economic effects of the Covid-19 pandemic.’ Pretoria News has reported that PPC has forecasted a 20% year-on-year drop in earnings in the year to 31 March 2020 due to ‘a slump in domestic demand and an influx of cheaper Chinese imports, even prior to lockdown.’

China: Anhui Conch has announced the start of production at its subsidiary Basu Conch’s 0.9Mt/yr-capacity clinker production line, its first in the Tibet Autonomous Region. Anhui Conch Sichuan and Chongqing regional director Zhang Laihui said, “Thanks to its mature corporate management, Basu Conch has built an industrial plant in the wilderness in 468 days – that’s ’Conch speed.’ Our group mission of ’industrial aid to Tibet’ stands as an example of good management, development and efficiency in public-private cooperation.”

Bangladesh: Cement producers imported US$760,000-worth of raw materials in the 2020 financial year which ended on 30 June 2020, down by 13% year-on-year from US$874,000 in the 2019 financial year. Clinker, calcareous stone, granulated blast furnace slag (GBFS) and gypsum imports totalled 18.6Mt, down by 11% from 21.0Mt, compared to annual growth of 15 - 20% since 2010.

The Daily Star newspaper has reported that this was due to decreased cement demand, with sales falling to 65,000t in April 2020 from 125,000t in March 2020 on account of the start of the nationwide coronavirus lockdown. Premier Cement managing director Amirul Islam said, “We are not getting the benefits we expected from the government. The sector’s capital is gradually running out, so all kinds of discretionary tax cuts are needed to save this industry.”

Bangladeshi cement producers import raw materials from Thailand, Vietnam and China.