Displaying items by tag: GCW463

Israel: The Environmental Protection Ministry (EPM) has granted Nesher-Israel Cement Enterprises a licence to substitute more refuse-derived fuels (RDF) for petcoke than was previously permitted at its 5Mt/yr integrated Ramle, Central District cement plant. The Times of Israel newspaper has reported that the licence also allows for greater metal emissions. The company said, “As is customary in the global cement industry, the Nesher plant in Ramle uses raw materials and alternative fuels, thus achieving a number of environmental goals, including reducing landfill, minimising the use of natural resources and reducing greenhouse gas emissions.”

Zimbabwe: LafargeHolcim subsidiary Lafarge Cement Zimbabwe has reported a profit of US$178m in 2019, up by 4.8% year-on-year from US$170m in 2018. Inflation-adjusted sales rose doubled to US$919m from US$449m. Cement volumes remained level at 323,000t. The company said that it, “recorded its best financial performance in over five years. The construction of a US$2m dry mortar mixing plant was completed and installation of the equipment on site is set to be completed in the second half of 2020.”

Egypt: Suez Cement has recorded a loss of US$18.0m in the first three months of 2020, compared to a profit of US$11.0m in the first three months of 2019. Sales fell by 27% year-on-year to US$80.6m from US$110m in 2019. Domestic demand in relation to Egypt’s production overcapacity fell in March 2020 due to the coronavirus outbreak. Daily News Egypt has reported that the second quarter 2020 results will carry greater losses for Suez Cement due to coronavirus lockdown measures and seasonal factors such as Ramadan, with cement volumes down by 27% year-on-year in May 2020.

Saudi Arabia: Najran Cement has announced that it has completed the repayment of a US$12m loan from Banque Saudi Fransi. Mubasher news has reported that the loan had been due for repayment in instalments in the first half of 2020. The cement producer retains US$94.6m in outstanding loans.

Iran: A new cement company has registered with the Tehran stock exchange. Called Tamin Cement Holding, it says that it will invest in cement, other related products and construction, according to the filing.