12 May 2017
Federal Antimonopoly Service approves deals between SibCem with Angarskcement and Iskitimcement 12 May 2017
Russia: The Federal Antimonopoly Service (FAS) has approved Siberian Cement Holding Company (SibCem) to acquire executive body rights in Angarskcement and Iskitimcement. In the case of the transactions, the charter capital structure of Angarskcement and Iskitimcement will not change, the companies will sign management contracts, according to the Kommersant newspaper. Sibcem holds a 49.9% stake in Iskitimcement, via Topkinsky Cement, and a 43.33% stake in Angarskcement.
Kazakhstan: Karaganda cement plant has secured a US$3m loan from VTB Bank Kazakhstan to finance production growth at the unit. The Bank and Karcement JSC, which owns the cement plant, signed a corresponding agreement within the state program aimed at the development of domestic producers, according to the Trend News Agency. The plant has a production capacity of 3.6Mt/yr and it had been in operation since 1953.
India: UltraTech Cement has commissioned 0.3Mt/yr slag cement grinding mill at its grinding plant at Patliputra in Bihar. The new capacity is intended to meet demand for slag cement in eastern India. With the expansion of the plant the cement producer has a production capacity of 70.6Mt/yr.