31 January 2023

China: Anhui Conch Cement has reported a provisional net profit of US$2.07 - 2.46bn. Dow Jones Institutional News has reported that this would correspond to a decline of 50 - 58% year-on-year from 2021 levels.

Finland: Finnsementti and energy provider St1 have selected Norway-based Aker Carbon Capture to carry out a pre-engineering study for a planned carbon capture system at the cement producer's Lappeenranta cement plant in South Karelia. Dow Jones Institutional News has reported that Aker Carbon Capture offers a 40,000t/yr carbon capture system, capable of producing 25,000t/yr of methanol for use as transport fuel. The project is scheduled to deliver commercial synthetic methanol by 2026.

The Lappeenranta cement plant carbon capture project recently received Euro35.4m in additional funding from the Finnish government, subject to European Commission approval.

India: Orient Cement recorded sales of US$89.2m in the third quarter of its 2023 financial year, up by 18% year-on-year from US$75.3m in the third quarter of its 2022 financial year. The producer's profit was US$3.36m, down by 37% year-on-year from US$5.32m.

Costa Rica: Cementos Progreso has launched its brand in Costa Rica, marking its entry into a seventh Central/South American market.

Chief executive officer José Raúl González said “Our company believes in the region, understands its potential and is committed to adding value to all Central Americans. The launch of our flagship brand in the Costa Rican market is key to our growth and investment plans, which seek to generate development and employment in the local and regional cement industry."

India: Market research company CareEdge Research has forecast an 8 - 9% year-on-year rise in all-Indian cement demand to 380 - 390Mt throughout the 2023 financial year, which will end on 31 March 2023. CareEdge Research recorded an 11% year-on-year rise in domestic cement demand during the first eight months of the 2023 financial year, up to 30 November 2022. It attributed the growth to increased urban housing development and infrastructure activity. The market research company expects these factors to continue to drive demand growth into the final quarter of the financial year.

India produced 356Mt of cement in the 2022 financial year, up by 20% year-on-year from 296Mt in the 2021 financial year.