05 August 2024

India: Ambuja Cements will invest US$190m to establish a 6Mt/yr grinding plant in Warisaliganj, Bihar. The project is scheduled in three phases, with the first phase of 2.4Mt/yr costing US$131m, according to the company. The plant has secured environmental clearance and land allocation for potential future expansions, The Telegraph India reports. The project will reportedly create 250 direct jobs and 1000 indirect jobs and will contribute US$30m/yr to Bihar’s economy. It is targeted for completion by December 2025.

Pranav Adani, director of Adani Enterprises, said “This investment aligns with the state government’s development programmes and our growth plans. The cement industry is witnessing healthy volumes due to the government’s infrastructure thrust, and Ambuja Cements is well positioned to support sustainable infrastructure development in the country.”

Italy: Buzzi has disclosed its financial results for the first half of 2024. It reported a decrease in cement sales volumes by 8%, mainly due to weak demand in Central Europe and increased rainfall in Italy and the US. Despite this, the company achieved a consolidated turnover of €2.05bn, down by 4.5%. After taxes, the net profit stood at €422m, a 2.1% decrease from €431m in the first half of 2023. The net financial position closed at €898m, compared to €798m at the end of 2023.

Namibia: The Namibian Competition Commission (NaCC) has imposed a US$269m fine on two companies for completing a merger without prior approval. The acquisition of Hong Xiang Holdings’ shares by Wang Zhongke from Fan Qingmei led to the companies being fined after an investigation found that the merger would create a monopoly in the cement market. NaCC spokesperson Dina Gowases stated that the merger failed to meet the notification requirements under the Competition Act, aimed at safeguarding competitive markets crucial for the construction industry and the national economy. The settlement also requires the companies to implement a competition law compliance programme in Namibia.

Philippines: Alsons Power has signed a retail electricity supply agreement with Holcim Philippines, committing to provide 80% of the energy needs for Holcim's facilities in Davao and Lugait, Misamis Oriental.

Edwin Villas, senior vice president and head of supply chain at Holcim Philippines, said “We are confident that our partnership with Alsons Power will help us achieve our business goals and sustainability aspirations. Partnering with Alsons Power is the right choice given its strong and trusted reputation for providing reliable and affordable electricity in its three decades in the energy industry.”

Pakistan: The cement industry reported a decline in overall despatches from 3.23Mt in July 2023 to 3.01Mt in July 2024, marking a 7% year-on-year fall. Domestic despatches decreased by 11%, while exports rose by 22%, according to The News International.  

A spokesperson for the All Pakistan Cement Manufacturers Association said "Higher taxes and increased input costs are affecting the country's cement sector. This is the 11th straight month during which domestic despatches are showing a declining trend due to sluggish economic activity in the country. The cement industry urges the government to review its taxation policies to reduce the burden of heavy taxes on this important sector of the economy."