Displaying items by tag: Investment

Egypt: Arabian Cement Company (ACC) has signed an amendment to its 2019 contract with Amarenco SolarizEgypt (ASE) to establish a solar photovoltaic (PV) unit at its Suez plant. The amendment to the agreement aligns with updated regulations recently issued by the Egyptian Electric Utility and Consumer Protection Regulatory Agency (EgyptERA) to encourage and support self-built solar energy projects as Egypt hosts the United Nations Climate Change Conference (COP27) in Sharm El Sheikh.

ACC already generates 20.6MW of power from a solar PV plant, representing 3% of its total power needs and saving 5500t/yr of CO₂. Construction of a second site, capable of saving 13,000t/yr of CO₂, will now begin in early 2023. The actual commissioning and start-up of operations is expected in September 2023.

“As part of our sustainable development strategy, we are continually assessing opportunities to develop Egypt’s cement industry with projects that integrate sustainable and environment-friendly solutions and renewable energy resources given their significant environmental, social impact and on the economy at large,” said Sergio Alcantarilla, the chief executive officer of ACC.

Taiwan: South Korea-based Hana Technology has won a contract to supply US$33.4m-worth of equipment to Taiwan Cement. Local press has reported that the order will supply a cement plant upgrade by the producer.

India: Adani Group plans to invest US$12.1bn across the various sectors in which it operates in the state of Karnataka before 2030. Press Trust of India News has reported that the company has confirmed that expansions to its cement operations will be included under the investment package.

Adani Group's four cement facilities in Karnataka share a cement production capacity of 7Mt/yr.

Egypt: Suez Cement has partnered with Intro Power and Utilities for the construction of a 20MW solar power plant at its Suez cement plant. From its commissioning in early-mid-2023, the installation will provide the plant with 45GWh of energy annually, 20% of its annual consumption. Suez Cement says that this will eliminate 22,000t/yr-worth of CO₂ emissions. Construction is expected to cost US$350m and commence in 2023.

Suez cement aims to achieve specific CO₂ emissions of 400kg/t of cementitious product by 2030, down by 47% from 1990 levels.

Managing director Mohamed Hegazy said “Through transitioning to renewable solar energy, we are looking at long-term economic benefits, laying the foundation for a low-carbon business and energy security, without jeopardising the health of our environment. We are proud about this new milestone and to be one of the few cement players in Egypt taking this step towards using a more affordable and cleaner energy."

Saudi Arabia: Yamama Cement has commissioned its second cement plant, with 20,000t/day in capacity across two clinker lines. The producer invested US$1.25bn in the plant's construction, which was carried out by Germany-based ThyssenKrupp. The facility is equipped with seven raw materials crushers, a 3.7km-long limestone conveyor belt, 110,000t of storage capacity, four Quadropol roller mills, two Dopol preheater towers, two Polro rotary kilns, two Polytrack clinker coolers, three 100,000t clinker silos, four Polycom high-pressure roller mills, six 22,590t and 25,000t cement silos and 22,000m³
in water storage basins. The new plant is situated in the eastern Arabian Desert, 80km from Riyadh.

Yamama Cement also operates the 6.4Mt/yr Al Karj Cement plant, 70km from Riyadh.

India: UltraTech Cement has projected six-month cement capacity growth of 8.2% to 131Mt/yr by 31 March 2023, the end of the 2023 financial year. At the end of the first half of the 2023 financial year on 30 September 2022, its capacity was 121Mt/yr. In the third quarter of the 2023 financial year, UltraTech Cement expects to commence commercial operations at its upcoming 3.5Mt/yr Pali, Rajasthan, cement plant and upgraded Dhar, Madhya Pradesh, cement plant, to which it is adding 4.2Mt/yr in new capacity. The remaining new capacity consists of smaller capital expenditure investments in various sites across India. UltraTech Cement's chief financial officer Atul Daga forecast that the producer will invest a total of US$731 - 853m in capacity expenditure throughout the 2023 financial year.

The Business Standard newspaper has reported that UltraTech Cement expects to further increase its cement production capacity by 22% over the three years up to the 2026 financial year, to reach 160Mt/yr.

Nepal: Udayapur Cement has urged the Nepalese government's Ministry of Finance to process its application for a loan of US$3.82m. The Kathmandu Post newspaper has reported that the producer plans to invest in an upgrade to its 800t/day-capacity Gaighat cement plant in Province No.1. The plant is reportedly unable to meet its capacity due to frequent issues with its 33-year-old equipment. The producer hopes that an upgrade will increase the plant's production capacity by 41% to 2.5m bags/yr. It also expects its expenditure on coal to fall by 25% as a result.

Director general Gopi Neupane noted the Gaighat cement plant's access to high quality limestone not available elsewhere in the country. He said "We will turn the factory into a profit-making enterprise if the additional investment is provided. We have huge scope for exporting cement to Uttar Pradesh and Bihar (in India)."

Pakistan: Fauji Cement has recorded first-quarter sales of US$67.2m in its 2023 financial year, up by 27% year-on-year from US$52.9m during the first quarter of the previous financial year. The producer's cost of sales was US$47.9m, up by 29% from US$37.3m, and it recorded a profit for the period of US$10.6m, up by 10% from US$9.62m.

Fauji Cement is currently undergoing a transition into the third largest cement producer in Pakistan, through a US$122m 2.05Mt/yr expansion to its Nizampur, Khyber Pakhtunkhwa, cement plant and a US$148m 2.05Mt/yr expansion to its Dera Ghazi Khan cement plant. Together, Fauji Cement will fund the projects through US$171m-worth of debt, US$54.9m-worth of internal cash generation and US$45.7m-worth of equity.

Pakistan: Askari Cement has ignited the newly installed 6500t/day kiln at its Nizampur cement plant in Khyber Pakhtunkhwa province. The kiln increases the plant's capacity by 73% to 4.85Mt/yr. The project, along with parent company Fauji Cement's construction of a new 2.05Mt/yr integrated cement plant in Dera Ghazi Khan, cost US$339m. Fauji Cement took a US$212m loan to support the works in January 2022. The group expects both projects to raise its capacity by 56% to 10.5Mt/yr and to increase its market share to 13%.

Fauji Cement's upcoming Dera Ghazi Khan cement plant is scheduled for commissioning in mid-late 2024.

Spain: Brazil-based Votorantim Cimentos' Córdoba, Niebla and La Araña cement plants in Andalusia are at the centre of a planned Euro1bn decarbonisation project by the company. Votorantim Cimentos will publish details of its plans, which include renewably powered green hydrogen and biofuels production, in early 2023.

Votorantim Cimentos Europe, Asia and Africa CEO Jorge Wagner said "We need agility with the administration, because the investments are stratospheric and long-term. We want to obtain subsidies, taking advantage of European funds." He concluded "We have the opportunity to carry out a very beautiful project in Andalusia and beat the Americans."