30 October 2023

Qatar: The board of directors of Qatar National Cement has approved the proposed sale of the company’s Cement Plant No. 1 in Umm Bab, Al-Shahaniya Municipality. Reuters has reported the plant’s buyer as Arab International Metal Trading.

India: UltraTech Cement announced planned new capital expenditure (CAPEX) investments worth US$1.56bn to grow its production capacity, beginning in the 2026 financial year (1 April 2025 – 31 March 2026). The Telegraph newspaper has reported that the growth will expand UltraTech Cement’s capacity by 13% to 187Mt. 33.8Mt-worth of this (18%) will be in its native West India, 40.4Mt-worth (22%) in East India, 36.2Mt-worth (19%) in North India, 35.7Mt-worth (19%) in Central India and 35.5Mt-worth (19%) in Central India, with the remainder situated overseas. The new capacity consists of four new production facilities and four upgrades to existing facilities, supported by four new cement terminals. The producer says that it will come online in a phased manner, up to an unspecified end date.

Kumar Mangalam Birla, chair of parent company Aditya Birla, said "Over the past seven years, UltraTech has strategically invested over US$6bn to support India's rapidly changing infrastructure landscape. Our fresh commitment of US$1.56bn underscores our deep-rooted belief in India's economic potential. With each investment, we have not only expanded our footprint, but also empowered India in meeting its need for housing, roads and other vital infrastructure."

US: Holcim US will invest US$100m in an expansion to raise its Ste. Genevieve cement plant’s capacity by 15% to 4.6Mt/yr. The expansion will involve the installation of a fifth vertical roller mill (VRM) for cement grinding and a new mineral component addition system, alongside a rail-loadout expansion. The producer says that the expanded plant will have lower net CO₂ emissions than before. Construction is set to commence in 2024.

Toufic Tabbara, head of Holcim’s North America region, said “With an emphasis on achieving the highest levels of environmental performance and operational efficiency, Ste. Genevieve has been the leader in US cement manufacturing since it was built in 2009. This investment will ensure we maintain that leadership in supporting the sustainable growth of our nation’s infrastructure and residential construction while accelerating net carbon reduction across the built environment.”

China: Tangshan Jidong Cement recorded US$3.05bn in sales during the first nine months of 2023, down by 18% year-on-year from US$3.74bn during the first nine months of 2022. Its nine-month net loss was US$44m, against a profit of US$223m one year previously.

Nigeria: Dangote Cement recorded sales of US$1.9bn during the first nine months of 2023, up by 29% year-on-year from nine-month 2022 levels. The group’s sales volumes of cement and clinker both dropped. The Premium Times newspaper has reported that Dangote Cement’s costs rose by 33%, primarily due to increased spending on electricity and fuel. Nonetheless, its profit after tax grew by 30%, to US$351m.

India: The Supreme Court will hear the case against Adani Group over its alleged financial misrepresentation and stock manipulation on 24 November 2023, 24 days after the previous deferred date of 30 October 2023. BusinessWorld News has reported that the National Financial Reporting Authority (NFRA) is currently ‘scrutinising’ the group's auditors, S.R. Batliboi, while the Securities and Exchange Board of India (SEBI) is investigating British Virgin Islands-based investment fund Gulf Asia Trade & Investment for possible violations of share ownership regulations in connection with the Adani Group.

Adani Group says that it has committed no wrongdoing.

India: Andhra Cements has commenced work to dispose of grinding mills from its Visakha grinding plant in Andhra Pradesh’s Visakhapatnam District, Reuters has reported. The plant previously had a capacity of 600,000t/yr.

Sagar Cements concluded a deal to acquire Andhra Cements in January 2023.