09 September 2024

Ukraine: The Antimonopoly Committee of Ukraine (AMCU) has approved CRH Ukraine's acquisition of over 50% of the voting shares in Dyckerhoff Cement Ukraine. This move is part of a broader agreement that includes anti-competitive measures to be implemented within 24 months post-transaction. CRH Ukraine will acquire a 99.9775% stake in Dyckerhoff, with expectations for the European Bank for Reconstruction and Development to potentially join as an investor following a mandate signed in December 2023. 

India: RHI Magnesita India plans to invest approximately €442m to expand and upgrade its production capacity by the end of the financial year 2025, according to The Hindu newspaper. This follows a €331m investment over the past two years, which increased the company's refractory production capacity in India to over 0.5Mt/yr.

India: Star Cement has announced the formation of Ri Pnar Cement in Meghalaya as a wholly-owned subsidiary. The incorporation was approved by the Ministry of Corporate Affairs on 5 September 2024, and involves an authorised capital of US$11,911, divided into 100,000 equity shares valued at US$0.12 each.

Egypt: Egypt's cement consumption is expected to drop to 45Mt in 2024, a decrease of 4% from 47Mt in 2023, reports Arab Finance newspaper. According to Ahmed Shireen, head of the cement division at the Federation of Egyptian Industries, the country is also projected to export 15Mt of cement. Local production capacity stands at 92Mt/yr. Recent reductions in transport availability have reportedly been exacerbated by exports, particularly to Libya, causing a significant cement shortage. This has reportedly impacted local construction projects and contributed to a 20% price increase since 1 August 2024.

Vietnam: Vietnam produced 119Mt of cement between January and August 2024, up by 1.3% year-on-year, according to data released by the General Statistics Office. In August 2024, production was 15.6Mt, up by 6.3% compared to August 2023. In 2023, the country recorded a cement output of 120Mt, a decline of 4.5% year-on-year.