Displaying items by tag: GCW642

Saudi Arabia: Arabian Cement Company has estimated that its production costs will rise by 14% after Saudi Aramco raised its fuel prices. In an addendum to a previous announcement published on the Saudi Exchange on 4 January 2024, the producer said that it will explore cost reduction strategies throughout the coming financial period.

Brazil: Votorantim Cimentos and Atlas Renewable Energy have launched a joint venture to build a 470MW solar power plant in Paracatu, Minas Gerais. Additionally, the parties signed a power purchase agreement (PPA) for the supply of 100GWh/yr of solar energy for Votorantim Cimentos' cement plants between 2026 and 2041. The moves align with the producer’s aim to achieve 75% renewable energy reliance in its operations.

Argentina: Cement shipments across Argentina totalled 12.6Mt nationally in 2023, down by 3.2% year-on-year from 13Mt in 2022. Central de Noticias News has reported that the Portland Cement Manufacturers Association (AFCP) attributed this to the continuing ‘paralysis’ of private and public construction projects. The Construction Index dropped by 7.9% year-on-year in 2023.

India: Shah Rukh Khan (SRK) has become the latest Bollywood superstar to help advertise cement in India. Khan appears in UltraTech Cement’s Build and It Will Grow (Banega Toh Badhega) advertising campaign, launched on 15 January 2023. The opening advert shows the Aśoka star among workers, school pupils and the Indian Army carrying out different activities facilitated by infrastructure.

UltraTech Cement said “SRK is a shining example of the rise and aspirations of India. His personal journey is one of resetting boundaries and aiming high. We thus believe that he is aptly suited to represent UltraTech’s credo.”

US: Summit Materials and Cementos Argos have successfully combined their operations in the US under a single entity. Summit Materials acquired Argos North America Corp. for US$1.2bn, and conversely issued 31% of its shares to Cementos Argos. Summit Materials expects to derive US$100m in additional earnings before interest, taxation, depreciation and amortisation (EBITDA) through the deal. Three representatives of Colombia-based Grupo Argos will sit on the board of up to 11 directors of the new combined entity.

Cementos Argos CEO Juan Esteban Calle said "The combination with Summit Materials, which had the resounding support of its shareholders, allows us to begin a new chapter in the successful history of our presence in the US, and is built on shared values, strategic vision and complementary capabilities.” He added “This new milestone consolidates our objective of continuing to expand our presence in the most attractive construction materials industry in the world for the benefit of our shareholders and all interest groups."

Kazakhstan: Steppe Cement reported US$82.5m in sales in 2023, down by 7.2% year-on-year from US$89m in 2022. The company attributed this to a decline in sales, to 1.6Mt in 2023. It said that it commanded a 14% local market share for the year.

Iran: 70% of cement plants by capacity were reportedly using the low-quality heavy fuel oil mazut as cement fuel on 13 January 2024. Iranian Labour News Agency has reported that plants transitioned to the fuel from natural gas amid an on-going gas shortage. This has led to a rise in costs and increased pollution from cement plants.

Iran’s Cement Industry Employers’ Association said that the industry’s supply of natural gas has dropped to 7Mm³/yr, from 27M³/yr normally.

UK: CRH subsidiary Tarmac has successfully deployed France-based software developer Everysens’ Transport Visibility & Management System (TVMS) in its total operations processing system (TOPS) for rail transport. The TVMS digitally tracks trains, enabling the customer to measure performance, analyse patterns and ensure smooth anticipation and collaboration between stakeholders. Tarmac expects the upgrade to streamline its delivery monitoring and also allow for proactive decision-making.

Tarmac head of rail Chris Swan said "Everysens' integration with TOPS has significantly supported Tarmac to digitise its rail freight operations. Tracking our freight trains has become a lot easier and more precise through digital solutions. With real-time ETA data, we can optimise routes, manage resources, and provide an even higher level of service to our customers. This integration underscores our commitment to staying ahead in technology and embracing digitisation for more efficient and streamlined operations."

Kazakhstan: National cement consumption volumes totalled 11.5Mt in 2023. The figure represents a year-on-year decline of 0.9% from 11.6Mt in 2022.

Iraq: Al-Riyadh Investment Companies Group subsidiary Al-Douh Iraqi Company for Cement Industries plans to expand its Al Douh cement plant’s capacity by 58% to 3Mt/yr. The expansion is part of an upgrade involving the installation of a new kiln, a gas-fired captive power plant and a new waste heat recovery (WHR) plant. The WHR plant will provide 30% of the plant’s energy. The US-based International Finance Corporation (IFC) has loaned Al-Douh Iraqi Company for Cement Industries US$130m on a long-term basis for the project.

The IFC says that it expects the Al Douh cement plant expansion to help boost economic diversification, spur sustainable growth in Iraq and generate 2700 new jobs in Muthanna Governorate.