Displaying items by tag: GCW252
Iraq to remove ban on Iranian cement import
23 May 2016Iraq: Iraq intends to remove a ban on import of Iranian cement according to Abdolreza Sheikhan, the secretary of Iran's Cement Industry Employers Association. In comments reported by the Fars News Agency, Sheikhan said that Iranian and Iraqi officials had held several meetings on the issue.
He added that Iraq had banned cement imports due to security problems in the country and the falling oil price. Iraq’s cement demand is currently met by its own domestic production. Previously, Iraq took 60% of Iran’s exports of cement. However, in the last year Iraq increased its import tax on Iranian cement to US$13/t from US$4/t.
Irish Competition and Consumer Protection Commission appeals court judgement on accessing CRH files
23 May 2016Ireland: The Competition and Consumer Protection Commission (CCPC) has appealed against a High Court judgment preventing the CCPC from accessing or reviewing certain electronic documents seized by the CCPC during a search conducted in May 2015.
The High Court judgment arose from a court action taken by CRH against the CCPC following the seizure of hard copy and electronic documents by the CCPC during an unannounced search at the premises of CRH’s subsidiary, Irish Cement, on 14 May 2015. The search related to an investigation by the CCPC into alleged anti-competitive conduct in the bagged cement sector. The orders made by the High Court prevent the CCPC from accessing or reviewing material in the mailbox of Seamus Lynch, a director of Irish Cement, unless the CCPC and CRH agree to appoint an independent third party to ‘sift’ the seized documents for material relevant to the investigation.
The CCPC’s investigation into alleged anti-competitive practices by Irish Cement in the supply of bagged cement continues.
Georgia: HeidelbergCement Caucasus has announced that it will spend US$120m on upgrading its Kaspi cement plant in the Shida Kartli region. HeidelbergCement will work with the Georgian Co-Investment Fund (GCF) and Hunnewell Partners, a private equity firm, on the project, according to government news source Agenda.ge.
Most of the budget will be spent on building a new dry cement production line at the site. The remainder will be invested towards developing the plant’s supporting network of ready-mix concrete and aggregate plants. Construction will start in July 2016 with completion intended for mid-2018. The three companies also said that they are investigating expanding their production base in west Georgia after completing the Kaspi plant expansion project.
Heidelberg Cement started operating in Georgia in 2006 after it acquired a stake of 75% in SaqCementi. It operates two integrated cement plants in Kaspi and Rustavi, a grinding plant in Poti and a cement terminal in Supsa.
Indonesia: A joint venture between the State Development and Investment Corp (SDIC) and Anhui Conch Cement Company will start production at its 1.5Mt/yr plant in Manokwari, West Papua in July 2016. Hu Xiaohong, PT Conch-SDIC Papua Cement Indonesia’s head of general affairs, said that the first phase of the US$400m plant was nearly complete, in comments reported upon by the Jakarta Post.
India: The Calcutta High Court has dismissed two petitions by members of the Birla family intending to challenge the takeover of Reliance Infrastructure by Birla Corporation. Justice Jyotirmoy Bhattacharya held that the petitions were not maintainable stating that decisions taken by the directors could not be called into question by the probate court.
The challenge by the Birla family represents the latest move in a long-running legal battle between the family and accountant R S Lodha, father of the current chairman of Birla Corporation. The cement company announced in February 2016 that it was planning to buy Reliance Infrastructure for US$715m.
Philippines: Ernesto Ordoñez, the president Ernesto Ordoñez Cement Manufacturers Association of the Philippines (CEMAP), has said sales in the first three months of 2016 rose by 13% year-on-year to 6.43Mt in the first three months of 2016 from 5.7Mt in the same period in 2015. It was driven by strong construction activity in the country according to the Philippines Star newspaper.
“Demand will continue to be strong, especially with presumptive president Duterte saying that infrastructure will remain a high priority during his administration,” said Ordoñez. He added that the local cement industry benefitted from the higher infrastructure budget being allocated for the Department of Public Works and Highways (DPWH). CEMPA forecast that construction growth in both the pubic and private sectors will remain strong in 2016.
FCT Combustion report burner orders in the US
20 May 2016US: FCT Combustion has announced new orders in the US. The Graymont lime plant in Pleasant Gap, Pennsylvania has ordered two low NOx Gyro-Therm MKII burning systems for coal, natural gas and solid alternative fuels firing. The Lehigh Cement plant in Redding, California has ordered a Turbujet burner for coal, petcoke, natural gas and solid wastes firing. No value for either order was released.
Egypt: Helwan Cement has ordered a vertical roller mill from Gebr. Pfeiffer to grind coal at one of its cement plants in Egypt. Delivery of the coal mill is scheduled for the end of 2016. The order was placed by Beijing Triumph International Engineering.
The type MPS 3350 BK coal mill will have an installed gearbox power of 1050kW. It is designed to grind 80t.hr of coal to a product fineness of 12% residue on 90μm and 60t/hr of pet coke to a product fineness of 6% residue on 90μm. Gebr. Pfeifer’s personnel will also supervise erection and commissioning.
US: Eagle Materials has reported that its revenue rose by 7% year-on-year to US$1.14bn in the financial year that ended on 31 March 2016 from US$1.07bn in the previous period. Its earnings fell by 18% to US$153m from US$187m.
By business sector Eagle’s cement operating earnings rose by 7% to US$515m from US$479m for both its wholly owned and joint ventures. Overall cement sales volumes remained stable at 4.8Mt. It noted that in Texas increased demand for construction grade cement continued to offset much of the impact from lower oil well cement demand.
India: JK Lakshmi Cement has reported that its total income for the financial year that ended on 31 March 2016 rose by 14.8% year-on-year to US$398m from US$347m in the same period in the previous year. However, its net profit fell by 93% to US$9.3m from US$14.2m. For the fourth quarter of its financial year, the Indian cement producer reported that its net profit grew nearly eight times to US$7.2m from US$0.9m.