Items filtered by date: 13 November 2019

Bangladesh: UltraTech Cement Middle East Investments (UCMEI) has announced that it has entered into a binding agreement by which it will sell its entire shareholding in Emirates Cement Bangladesh and Emirates Power Company to HeidelbergCement Bangladesh.

Under the terms of the agreement, UCMEI will divest its entire shareholding at an enterprise value of US$29.5m. The deal is subject to regulatory approvals in compliance with the laws of Bangladesh.

Zimbabwe: PPC Zimbabwe is looking to enter into a partnership with investors to build a solar energy plant of up to 16MW to supply its two plants in Bulawayo and Colleen Bawn. It also intends to have a 28hr battery back-up facility.

The company said that the move to solar would ensure uninterrupted power supplies to its plants, which have been badly affected by the prevailing power shortages in the country. Power utility Zesa Holdings has been forced to ration power in mid 2019 as production at its main hydro-power plant dwindled due to water shortages. Its main thermal power station experiences constant breakdowns due to its old age.

Turkmenistan: Lebap Cement plant produced nearly 0.74Mt of cement in the first half of 2019, exporting around 0.24Mt (32.5%). The plant has a capacity of 1.5Mt/yr but only made 0.94Mt in 2018, giving it a capacity utilisation rate of 63%. However, if Lebap continues to produce cement at the rate seen in the first half of 2019, it will have operated at nearly 100% of its capacity across the calendar year.

Spain: Pedro Carranza, the CEO of Cementos Portland Valderrivas (CPV), has sought to reassure his company with regards to the future of the Alcalá de Guadaíara plant in Andalusia following a dispute with local authorities.

“The future of the Alcalá de Guadaíra cement plant is assured,” he said. “It is an efficient, low-cost and very well located plant in a very attractive economic environment where construction growth is above the national average. The Alcalá plant is here to stay.” Carranza added that only ‘distortion of international markets’ could compromise the plant’s future. He called for a surge in public infrastructure investment as soon as possible.

The plant has been involved in a long-running dispute with local authorities regarding co-processing of alternative fuels. A project is now underway. The plant is also exploring long-term renewable energy purchase contracts and the installation of solar panels on its site.