Displaying items by tag: Huaxin

Oman: China-based Huaxin Cement has concluded a share purchase agreement with Omani sovereign wealth fund Oman Investment Authority (OIA) for the acquisition of a 60% stake in Oman Cement. ASDQ Financial News has reported the value of the deal as US$193m.

OIA director general of private ownership Ibrahim bin Said al Eisari said "This exit comes in accordance with a plan pursued by OIA aimed at achieving a number of goals, including attracting foreign investment to the sultanate. This will contribute to the development of operations at Oman Cement, increase the efficiency of its production lines and enhance its competitiveness locally and regionally, in addition to enhancing the positive image of the Omani industrial sector in general."

Zambia: China-based Huaxin Cement has increased its stake in Chilanga Cement (formerly Lafarge Zambia) to 81%. The Times of Zambia newspaper has reported that the group previously owned a 75% share of the producer.

Malawi: Lafarge Cement Malawi, which Huaxin Cement acquired from Holcim in December 2021, has renamed itself Portland Cement Malawi.

The Nyasa Times newspaper has reported that company secretary Constance Musopole said "Portland Cement Malawi will remain the home of our trusted brands which include DuraCrete, SupaSet, Kumanga and Khoma. We wish to inform the general public that the reputable legacy and the superior quality of goods and services that have been built over 65 years of existence in Malawi will indeed continue and also improve.” She added "Huaxin is among the 10 largest cement manufacturing companies globally with 115Mt/yr in capacity. We are excited to begin this new chapter in the legacy of the company."

China: Huaxin Cement says that it has disposed of 55t of medical waste from coronavirus-infected hospitals in Wuhan province at its 3.4Mt/yr Yangxin cement plant in Hubei province. Xinhuanet News has reported that the plant’s precalciner and rotary kiln have safely processed the batch, from its delivery in sealed trucks, through the combustion of the waste and its packaging, into cement.

China: Preliminary calculations from Huaxin Cement’s financial division have projected a net profit attributable to shareholders for 2019 of between US$0.88bn and US$0.95bn – an increase of 18% - 28% year-on-year from US$0.74bn. The company attributed the forecasted rise to an increase in the production and sales scale of its leading products.

China Cement Association Information Centre deputy director and Digital Cement Network CEO Chen Bailin estimated that demand will remain steady across China in 2020, according to Yicai News.

China: The Ministry of Industry and Information Technology has included Huaxin’s former Huangshi integrated cement plant site on its third annual National Industrial Heritage (NIH) list. The site includes three wet kilns, a warehouse, a bagging facility, slurry tanks and stone dumps. 49 disused sites from various industries were listed for NIH status, which ensures state-funded preservation and protection from demolition, on 26 December 2019.

China: Huaxin Cement has reported a net profit of US$680m for the period of nine months to 30 September 2019. This represents a 42% year-on-year increase from US$478m in the corresponding period of 2018. Its operating income over the period grew by 18% year-on-year to US$3.18bn from US$2.69bn. Huaxin Cement made several investments in emerging markets over the period, with its Uzbek plant in Zarafabad set to become operation in December 2019.

Nepal: Cement producers in Nepal are upgrading their plants in preparation for the start of operation by a number of foreign owned cement companies. Dhruba Thapa, the president of the Cement Manufacturers' Association of Nepal (CMAN), said that the imminent ‘invasion’ by foreign cement producers has led to unease amongst local producers, in comments to the Kathmandu Post

Dangote Cement from Nigeria, Hongshi and Huaxin from China and Reliance Cement from India have all been granted clearance to start operations in Nepal. Their combined foreign direct investment amounts to US$1.45bn and their proposed output stands at 22,000t/day.

Local projects include Cosmos Cement’s plan to build its first clinker plant. It is expected to start production in the second half of 2016. At present the cement producer operates two cement grinding plants with a combined capacity of 800t/day. It is also upgrading the capacity of these plants to a total of 2000t/day.

Arghakhanchi Cement has announced that it will nearly triple its capacity to 3000t/day by the end of 2017. At present the plant has a production capacity of 1200t/day. Agni Cement Industry has planned to set up a new plant with a daily capacity of 1200t/day. Currently, its capacity is 300t/day.

Domestic demand for cement is 5.5Mt/yr and production is 4.6Mt/yr according to CMAN. Domestic cement manufacturers claim that they have become able to meet 80% of the country's requirement with a capacity utilisation of 50 – 60%. However, foreign investors have said that there is unexplored potential demand for cement in Nepal as infrastructure development grows. Local producers have countered this claim, saying that foreign direct investment has been promoted by offering foreign investors more tax incentives than what domestic producers receive.

Cambodia/China: Huaxin Cement has injected US$24m into Cambodia Cement Chakrey Ting Factory to acquire a 40% stake in the southeast Asia-based company on 17 June 2014. After the investment, the Cambodia cement producer's registered capital grew to US$60m from US$32m. The Hubei Province-based cement manufacturer said that the acquisition in Cambodia is the company's second overseas investment after establishing a subsidiary in Tajikistan in 2011.

Tajikistan: Construction work on two cement plants with a total installed production capacity of 1.8Mt/yr has started in northern Tajikistan. President Emomali Rahmon attended the opening ceremonies of both plants.

The first plant, Ghayur-Sughd Cement - with a production capacity of 1.2Mt/yr - will be built in Ghafur district on a 48 hectare site. The plant will be built by the Tajik Ghayur company together with a Chinese partner, Huaksin Central Asia Investment. The cost of the project is over US$100m. After the plant is commissioned it will employ 1000 people. The first unit of the plant is scheduled for launch in 2015 and the second in 2016. Previously Tajik Ghayur and Huaksin built the 1Mt/yr Yuvon cement plant, which opened in 2013.

President Rahmon also attended the opening ceremony of the construction of Chjuntsay-Taboshar Cement plant. This 0.6Mt/yr plant is scheduled for completion in 2015 and it will employ nearly 500 people.