13 September 2022

Egypt: Private investor Sadiq Ahmed Sadiq El Sewedy has enlarged their stake in Arabian Cement to 11% from 9.5%. The investor paid US$1.6m for the additional shares. Al Ahly Pharos and EFG Hermes Holding provided brokerage services for the deal.

Arabian Cement recorded a profit of US$6.17m in the first half of 2022, compared to a US$1.2m loss in the first half of 2021.

Zimbabwe: Part of Lafarge Zimbabwe’s approved US$25m capital expenditure investments will go towards further expanding the company’s cement capacity in order to meet local demand. The company also plans to establish a new dry mortars plant. Lafarge Zimbabwe is on track to commission a new vertical roller mill at its Manresa grinding plant in early 2023. Lafarge Zimbabwe’s chief executive officer Geoffrey Ndugwa said, “The overall market demand continues to grow, driven by the segment of individual home builders as well as the ongoing major government infrastructure development projects. The company is confident that volumes will recover and grow as the availability of cement stabilises.”

Cyprus: Cyprus Cement has informed the Cyprus Stock Exchange that it has reduced its issued share capital by 14% to Euro50.9m from Euro59.2m. The company will return Euro8.26m in cash to investors.

India: Gujarat Sidhee Cement again closed its Sidheegram cement plant on 11 September 2022. The producer says that the temporary suspension of production will last until 1 October 2022.

Philippines: Holcim Philippines has signed a deal to receive 6.5t/yr of shredded waste from Bunawan municipality’s Panacan barangay for co-processing as alternative fuel (AF) in its cement production. SeeNews has reported that Holcim’s waste management subsidiary GeoCycle will process the AF. The partners aim to increase the volume of deliveries in future.

Davao cement plant manager Sam Manlosa said, “We are proud to provide our host barangay Panacan a sustainable waste management solution and thankful for their trust. We hope this partnership will further expand to other communities and the entire city of Davao so we can be a stronger partner in its sustainable progress.”

Panacan is the 28th community throughout the Philippines to enter into a waste management partnership with Holcim Philippines, and its 18th new partner in 2022. In August 2022, the company secured deliveries of waste collected in Bulacan province’s Binangonan, Cainta and Taytay municipalities in Rizal province for co-processing at its Bulacan cement plant.