01 August 2024

Nigeria: The Mangal Cement plant in Iluagba, Kogi State has successfully produced its first bag of cement. The plant is capable of producing 6000t/day of cement. The US$1.5bn facility aims to transform the local cement industry and will create 10,000 new direct and indirect jobs, Dateline Nigeria has reported. Mangal Industries has partnered with China-based Sinoma International Engineering for the plant’s construction, with a reported cost of US$600m.

Finland-based Wärtsilä has won a 10-year operations and maintenance agreement for a 50MW captive power plant to power the facility. Initially, the plant will use liquid fuel, but a pipeline will be constructed to allow it to use natural gas.

Chair Alhaji Dahiru Mangal said “This factory will employ the latest technology and adhere to the highest environmental standards. It is part of our ambitious programme to address Nigeria’s infrastructure and housing deficits, while demonstrating our confidence in the region’s economic outlook.”

Spain: Molins has concluded the first half of 2024 with a profit of €105m, up by 31% year-on-year, and revenues of €692m. Earnings before interest, depreciation and amortisation (EBITDA) rose to €189m, marking a 5% increase from 2023.

CEO Marcos Cela said "In the first half of 2024 we have achieved very solid operational results, with relevant progress in our sustainability roadmap."

US: Eagle Materials raised its sales in the first quarter of the 2025 financial year to US$609m, up by 1% year-on-year. Cement revenues rose 3% to $339m. Its adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 5% to US$225m.

CEO Michael Haack said “Our portfolio of businesses continued to perform well, despite adverse weather conditions during the quarter across many of our core markets, which affected sales for our cement business. Underlying fundamentals in our markets continue to be favourable, and we expect demand for our products to remain steady for the balance of the year.”

Australia: The new Geelong grinding plant, situated near Lascelles Wharf in Victoria, has commenced operations. It has the capacity to grind 1.3Mt/yr of granulated blast furnace slag and clinker. It will utilise slag to reduce landfill waste and substitute cement in concrete products. According to Boral’s post on LinkedIn, the plant will provide direct and indirect job opportunities to help boost the Geelong economy.

Nigeria: BUA Cement recorded a decline in profit in the first half of 2024, with post-tax profit falling to US$20.7m, down from US$38.3m in 2023. Profit before tax also decreased, standing at US$24.1m compared to US$46m a year ago.

India: JK Lakshmi Cement board has approved a corporate restructuring to merge three subsidiaries: Udaipur Cement Works, Hansdeep Industries and Trading, and Hidrive Developers and Industries. The merger is due for completion on 1 April 2025.