Displaying items by tag: GCW201

India: Prism Cement's net profit rose by 463% to US$9.73m in the fourth quarter of its 2015 financial year, which ended on 31 March 2015, compared to US$1.73m during the prior year quarter. Sales rose by 0.55% to US$240m in the fourth quarter of the 2015 fiscal year compared to US$239m in the same quarter a year earlier.

For the full year that ended on 31 March 2015, Prism Cement's net profit was US$2.31m compared to a net loss of US$12.9m during the full 2014 financial year. Sales rose by 12.7% year-on-year to US$877m in the 2015 financial year.

Saudi Arabia: The Chinese General Contractor Chengdu Design & Research Institute of Bldg Materials Industry Co Ltd in Chengdu has placed an order with Gebr. Pfeiffer SE for the supply of an MPS 3070 BC cement mill for Readymix in Saudi Arabia. The 1100kW drive power mill will grind 30t/hr of granulated blast-furnace slag and 46t/hr of Ordinary Portland Cement to a fineness of 4000cm²/g and 3600cm²/g, respectively. Delivery of the equipment is scheduled for 2015.

Egypt: Investments worth US$30bn in the coal industry are expected to be conducted within the next five years, according to Egypt's investment minister Ashraf Salman.

Salman said that there is 'full coordination' between the ministries of environment, electricity and investment to adhere to international environmental standards when using coal. Egypt's cabinet announced new rules on coal use in April 2015, which stipulate that coal imports can only take place after approval from the ministry of environment. The new rules are an amendment to a law on environmental affairs and allow the use of coal for cement, iron and steel, coke and aluminium production and in power plants.

Salman said that using coal as an energy source would decrease the dependency on natural gas as a primary energy source and petroleum products in steel and cement production. Despite the energy crisis, which has caused frequent and numerous power outages for years, the cabinet's approval of new coal use has caused controversy both within the government and outside.