Displaying items by tag: China

China: Xinjiang Tianshan Cement recorded a profit of US$19.5m during the first half of 2023, Reuters has reported. This corresponds to a 96% decline from first-half 2022 levels.

China: Jiangxi Wannianqing Cement recorded a profit of US$36.6m during the first half of 2023, Reuters has reported. This corresponds to a year-on-year decline of 46%.

China: West China Cement recorded sales of US$605m during the first quarter of 2023, up by 5.6% year-on-year from US$573m in the first half of 2022, Reuters has reported. Nonetheless, its net profit dropped by 19% to US$72.9m from US$90.6m.

China: Gansu Qilianshan Cement followed the general downward trend in Chinese cement producers’ results in the first half of 2023. Reuters has reported that the company recorded a net profit of US$32.6m, down by 53% year-on-year from first half of 2022.

China: Anhui Conch Cement is seeking coal suppliers for two of its subsidiaries. The producer has tendered for bids for contracts to supply 410,000t of bituminous coal, high-sulphur coal and lignite to Naiman Banner Hongji Cement and 10,000t of lignite to Chifeng Conch. Online bidding will open on 25 August 2023 and close on 27 August 2023.

China: China Resources Cement’s turnover was US$1.69bn during the first half of 2023, down by 27% from US$2.23bn during the first half of 2022. Reuters has reported that China Resources Cement recorded a net profit of US$86m, down by 66% year-on-year from US$250m.

China: China Tianrui Group recorded sales of US$554m during the first half of 2023, down by 25% year-on-year from US$737m in the first half of 2022. Reuters has reported that the producer’s net profit dropped by 67%, to US$20.9m from US$63.2m.

Iraq: China-based Sinoma International Engineering has won a contract to build a 2.19Mt/yr cement plant in Samawa, Muthanna, for Al-Diyar Company for Cement Industry and Industrial Investment. Yicai Global News has reported that Sinoma International Engineering will carry out engineering, procurement and construction on the project. The value of the contract is US$220m.

China: Asia Cement (China)'s sales were US$569m during the first half of 2023, down by 17% year-on-year from first-half 2022 levels. Reuters has reported that the company's profit also dropped, by 37%, to US$27.2m from US$43.3m.

Asia Cement (China) said that it expects the current decline in Chinese cement demand to slow throughout 2023.

Rwanda: West China Cement subsidiary Anjia Cement has inaugurated its Muhanga grinding plant at the Muhanga Industrial Park in Gitarama. Xinhua News Agency has reported that West China Cement invested US$50m in the plant's construction. It subsequently aims to raise its total investments in Rwanda to US$100m.

Rwanda Development Board chief executive officer Clare Akamanzi said "Over the past five years, we have registered investments from China worth close to US$1bn, which will collectively generate up to 25,000 jobs for Rwandans."