15 December 2020
Norway: The Norwegian Parliament has voted in favour of the government’s proposed grant of funding for industrial scale implementation of full-scale carbon capture and storage (CCS) at HeidelbergCement subsidiary Norcem’s Brevik cement plant. Work on the project is expected to start immediately, with the goal of starting CO2 separation from the cement production process by 2024. The end result will be a 50% cut of emissions from the cement produced at the plant. The group said that the installation will contribute to its CO2 emissions reduction target of 30% between 1990 and 2025.
Norcem chair and HeidelbergCement Northern Europe regional general manager Giv Brantenberg said, “HeidelbergCement highly appreciates the successful cooperation with the Norwegian authorities. The Brevik CCS project clearly shows the importance of industry and public sector to find common solutions in the fight against climate change.”
HeidelbergCement chair Dominik von Achten said, “We are delighted about the final approval of the Norwegian parliament for our breakthrough CCS project in Norway.” He added, “To meet national and international climate targets, CO2 separation is an important cornerstone. Our CCS project in Brevik will pave the way for our industry and other sectors.”
Brazil: Companhia Siderúrgica Nacional (CSN) plans to launch an initial public offering (IPO) for shares in its cement division in early 2021. The Valor Econômico newspaper reported that the company will reorganise its shareholding when it creates a publically-traded subsidiary for the business. In October 2020 the group filed an IPO with the Securities and Exchange Commission of Brazil for the sale of its mining division by mid-February 2021.
Chief financial Officer Marcelo Ribeiro said, “The opportunity to expand the unit is materialising more and more, but the truth is the decision to expand will be made once the market firms up, which is expected to happen.”
Cementos La Unión loses Arabian Cement Company arbitration case against Egyptian government 15 December 2020
Egypt: The US-based International Centre for Settlement of Investment Disputes (ICSID) has ruled in favour of the Egyptian government in a compensation case raised by Spain-based Cementos La Unión concerning its Arabian Cement Company (ACC) subsidiary. The El Economista newspaper has reported that the company sought US$286m in compensation, due to the Egyptian government’s decision to retroactively impose new activity and electricity licences shortly after ACC built a new integrated cement plant in Suez Governorate. Cementos La Unión argued that the additional licences breached a bilateral agreement between Spain and Egypt covering investments that were already in place.
The company said that it will continue to pursue its claim, which is also progressing in Egypt.
Cemex Ventures names 50 most promising start-ups 2020 15 December 2020
Mexico: Cemex subsidiary Cemex Ventures has named its 50 most promising construction and technology start-ups for 2020. The year’s list included 14 suppliers of solutions to increase productivity, 12 developers of new materials and construction methods, 13 innovators in the fields of safety and sustainability and 11 suppliers of supply chain-improving applications.
The company said, “The investment ecosystem in construction startups gained traction and closes the year 2020 surpassing US$1.3bn.” It added, “In 2020, Cemex Ventures is one of the companies that leads investment efforts in the ConTech ecosystem, positioning itself as one of the leaders in the industry.”
Cimerwa publishes 2020 financial year full-year report 15 December 2020
Rwanda: PPC subsidiary Cimerwa’s sales grew by 1% year-on-year in the 2020 financial year, in which it recorded earnings before interest, depreciation, taxation and amortisation (EBITDA) of US$16.7m. The producer says that it recovered strongly from a 40-day shutdown of cement production due to a national coronavirus lockdown that started on 22 March 2020, with cement production of 55,000t in July 2020. It also diversified its product range during the period with the launch of its new Sure Range cements.
Chief executive officer (CEO) Albert Sige said, “These results demonstrate Cimerwa’s strong foundation, resilience and great potential. In response to the exceptional situation of the Covid-19 pandemic, the team stepped up to the challenge by putting in place measures to ensure business continuity and protect performance. As the market opened up, we were more than ready to continue supplying our customers and stay on the course of Strengthening Rwanda. We undertook various initiatives that will have long-term positive impact on the business. This includes cost savings initiatives, strengthening the organisation and applying innovation to face new challenges. Cimerwa will emerge from this situation even stronger than before.”
Caribbean Cement signs collective labour agreement with union 15 December 2020
Jamaica: Caribbean Cement has signed a new retroactive three-year collective labour agreement with the Union of Clerical Administrative and Supervisory Employees (UCASE). Under the agreement, employees will receive an 18% pay rise over the three-year period ending on 30 June 2021. The Jamaica Observer newspaper has reported that the deal will also provide a 10% raise in call-out pay, a transportation allowance and scholarships for employees’ children. It also alters the existing profit sharing scheme, housing benefits and loan programmes.