Displaying items by tag: Deal

India: The Competition Commission of India has approved Ambuja Cements’ acquisition of Orient Cement, months after the Adani Group company announced the US$451m deal, according to The Economic Times.

Ambuja Cements first revealed plans to acquire Orient Cement in October 2024, intensifying its competition with rival UltraTech Cement.

The Indian cement sector has seen increased competition recently, with both UltraTech and Adani Group companies acquiring smaller firms to expand market share. Analysts had questioned whether the acquisition would secure regulatory approval due to industry oversupply concerns.

Egypt: Arabian Cement Company has signed a 30-year power purchase agreement with IRSC for renewable electricity. The deal covers the development, financing, construction, ownership and operation of the second phase of the firm’s solar power plant. The plant will have a total capacity of 17.6MW and is expected to produce 32.5GW/yr of electricity.

Dominican Republic: Cementos Progreso Holdings has acquired Cemex’s operations in the Dominican Republic, as well as the company’s export business in Haiti. The deal was first announced in August 2024, and has now been completed, having met all legal requirements. The company said that it will retain the 500 existing staff, in order to continue ‘offering products and services of the highest quality.’ Cementos Progreso now operates in eight countries in Latin America and the Caribbean.

India: Ambuja Cements has started a strategic partnership with Finland-based Coolbrook to use its RotoDynamic Heater (RDH). The technology uses renewably powered electrical heat to replace or reduce the amount of fossil fuels used for reaching high temperatures in cement kiln pre-calciners. No indication of the price or which cement plants will be upgraded with the equipment has been disclosed. The deal is intended to help Ambuja Cements meet its targets of reaching an alternative fuels thermal substitution rate of 28% and a renewable energy rate of 60% by 2028.

Ajay Kapur, CEO - Cement Business, Adani Group, said, “We continuously seek out innovations which drive efficiency and decarbonisation across our cement manufacturing value chain. Leveraging our Adani Group’s green power generation capabilities, we will be able to reduce fossil fuel dependence, costs, and emissions, ultimately delivering the best value for our stakeholders.”

Saudi Arabia: The crowded cement sector in Saudi Arabia is experiencing tensions due to its varying market shares, according to Majed Al Osailan, vice chair of the National Cement Committee. He noted that despite initial slow demand, renewed spending on construction has led to a shift, with most companies now able to meet market needs. The cement sector saw its first merger between Qassim Cement and Hail Cement, according to Argaam news, with another planned between City Cement and Umm Al-Qura Cement. NCC chair Badr Johar said that demand for cement is expected to strengthen substantially from late September 2024 to February 2025.

India: The Bhubaneswar Municipal Corporation has decided to continue its partnership with Dalmia Cement, allowing the company to receive an additional 70,000t of refuse derived fuel (RDF) from a temporary transit station at Gadakana. This decision comes as part of ongoing efforts to manage the substantial amount of RDF generated from daily waste processing, according to the New Indian Express.

An official from the civic body said "As the waste-handling site receives around 450t/day of garbage, we have agreed to allow Dalmia to take another 70,000t of waste. Previously, we had signed a contract with the company to send 70,000t of RDF to its Rajgangpur factory for co-processing within nine months. In the last six months, around 50,000t of waste has been sent."

Philippines: Cemex has sold its Philippine cement brands to the Consunji family for US$12.55m. Cemex Holdings Philippines revealed that APO Cement and Solid Cement repurchased the brands from Cemex Innovation Holding in Switzerland. APO Cement, based in Naga, Cebu, acquired the ‘Apo Cement’ brand for US$8.2m, while Solid Cement, located in Antipolo, bought the ‘Rizal’ and ‘Island’ trademarks for US$4.53m. This follows Cemex's strategic withdrawal from the Philippines, completing the sale of Apo Cement and Solid Cement to DMCI Holdings, Dacon and Semirara Mining and Power of the Consunji family for US$305.6m in April 2024.

Australia: CRH has won approval from Adbri shareholders to acquire 57% of the company for close to US$1.4bn. The deal was the result of a unanimous vote in favour on 12 June 2024.

Adbri’s lead independent director and chair of its independent board committee Samantha Hogg said “A combined CRH and Adbri will bring growth opportunities, new talent and innovation to continue to strengthen Adbri’s product offering in Australia.”

Nigeria: The government of Bauchi State has signed a deal with Resident Cement and Sinoma Nigeria Company for the construction of their upcoming 10Mt/yr cement plant in the state. The deal stipulates total investments by the companies of US$500m to build the plant, situated in Gwana District.

Governor Bala Abdulkadir Mohammed said "We are reassured in our commitment to maximise the available resources to exploit the natural resources Bauchi State possesses for the economic development of the state.”

Saudi Arabia: Hoffmann Green Cement Technologies has initiated construction of H-KSA 1, its first production unit in Saudi Arabia, located at Rabigh. The foundation stone was laid following a licensing agreement with Shurfah Group, which includes building four Hoffmann units under an exclusive 22-year deal. These units will use Hoffmann's clinker-free cement, aligning with Saudi Arabia's Vision 2030 objectives. Completion is anticipated by end of 2025.

Co-founders Julien Blanchard and David Hoffmann said "We are delighted to participate in the decarbonisation of the Saudi construction sector by building several of our units on their territory and marketing our 0% cement clinker."