Displaying items by tag: Finance
Raysut Cement to raise up to US$600m
10 March 2022Oman: Raysut Cement has announced plans to issue a secured rated debt instrument to raise up to US$600m. Reuters News has reported the instrument will raise funds for the company’s growth initiatives and existing bilateral debt repayments. Raysut Cement plans to carry it out in two tranches.
Novo Holdings invests US$65m in Biomason
01 March 2022US: Denmark-based life sciences investment company Novo Holdings says that it has invested US$65m in bio-based clinker-free cement producer Biomason. Biomason uses microorganisms to grow its Biocement cement, without heating or CO2 emissions. The producer is in its Series C round of financing. Novo Holdings previously invested in its Series B financing round.
Titan Cement completes buyback of 2.2% of shares
22 February 2022Greece: Titan Cement has advised the Athens Stock Exchange (ATHEX) that it has bought back a total of 2.2% of its shares under its share buyback scheme between 14 and 18 February 2022. It made the purchases both through the ATHEX and the Euronext Brussels exchange.
Innovate UK awards First Graphene consortium Euro228,000 in funding
18 February 2022UK: A consortium led by Australia-based First Graphene dedicated to developing graphene-enhanced cement has won Euro228,000 in UK government funding. Innovation agency Innovation UK selected the consortium for its work’s potential to contribute towards cement and concrete’s carbon footprint reduction of 25% by 2030. UK-based Breedon Cement represents the cement industry within the consortium.
Thai Securities and Exchange Commission approves issuance of debenture by Siam Cement Group
15 February 2022Thailand: The Securities and Exchange Commission has approved Siam Cement Group (SCG)’s planned debenture issuance. Reuters News has reported that the value of the debenture is US$926m.
CP Concrete Consortium receives US$80m funding for Carbon Pool Concrete technology development
31 January 2022Japan: The CP Concrete Consortium has received US$80m in funding under the New Energy and Industrial Technology Development Organisation (NEDO)’s Green Innovation Funding Programme. The funding will support the consortium’s development of its Carbon Pool Concrete reduced-CO2 concrete production technology until 2032. Hazama Ando Corporation leads the consortium along with 14 other members of the Japanese Ready-Mixed and Returned Concrete Solution Association.
Carbon Pool Concrete technology can be used in the construction of pavements, buildings and other civil engineering structures. Through comprehensive carbon life cycle evaluation, the consortium is attempting to robustly link the use of its technology with carbon market instruments and environmental and social governance infrastructure funding. Its aim is to redefine concrete as a carbon neutral material.
Savannah Cement announces upcoming Kitui clinker plant
21 January 2022Kenya: Savannah Cement plans to build an 2.5Mt/yr clinker plant in Kitui, Kitui County. The Standard newspaper has reported that the company has announced a US$352m bond issuance in order to raise funds for the project.
Holcim issues sustainability-linked bonds
20 January 2022Switzerland: Holcim has successfully issued two sustainability-linked bonds worth US$355m and US$109m in the Swiss market. The group says that the issuances are another way in which it keeps climate action at the heart of its financing strategy. It brings the total sum raised by Holcim through sustainable financing agreements to US$7.33bn. Investors will be entitled to a higher coupon if the company does not achieve its climate objective.
Chief finance officer (CFO) Géraldine Picaud said “We are proud to be the first company to launch a sustainability-linked bond on the Swiss franc market. The bond attracted new environmental and social governance investors, demonstrating their confidence in Holcim’s financial strength, strategy and ability to deliver our sustainability targets.”
Fauji Cement takes US$212m loan for cement plant expansions
06 January 2022Pakistan: Fauji Cement has taken out a loan of US$212m from a consortium lead by Habib Bank Limited. The Business Recorder newspaper has reported that the funding will go towards cement plant expansion projects with a total cost of US$339m. Fauji Cement plans to expand its plant in Dera Ghazi Khan, Punjab, while its subsidiary Askari Cement plans to expand its plant in Nizampur, Khyber Pakhtunkhwa. The company says that the projects will together increase its installed cement production capacity to 10Mt/yr.
Xinjiang Tianshan Cement to launch US$2.36bn bonds issue
10 December 2021China: Xinjiang Tianshan Cement plans to launch an issuance of bonds. Reuters has reported the value of the issuance as US$2.36bn.