Displaying items by tag: Infrastructure

US: Eagle Materials offset higher energy and maintenance costs by raising the prices of its products in the first quarter of its 2023 financial year. This contributed to an 18% year-on-year sales rise to US$561m. The group achieved earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$184m during the quarter, up by 13% year-on-year.

President and chief executive officer Michael Haack said "Our results this quarter exceeded our expectations, as our portfolio of businesses performed well, and we executed on the opportunities available to us. Construction activity remained healthy across our markets, and we realised broad pricing gains across our portfolio again this quarter."

The producer’s cement sales rose by 5% year-on-year to US$285m. Haack said "In our heavy materials business, we implemented a second round of cement price increases in early July 2022 given the strong demand environment and our sold-out position. Looking ahead, we expect demand for cement to remain strong, with infrastructure investment increasing as federal funding from the Infrastructure Investment and Jobs Act begins in earnest this fiscal year.”

India: UltraTech Cement plans to increase its installed cement production capacity to 154Mt/yr by the beginning of the 2026 financial year on 1 April 2025. The increase represents a composite annual growth rate of 10% from 115Mt/yr at the start of the 2023 financial year. The Economic Times newspaper has reported that the producer plans to carry out the expansion in two phases.

Indian domestic cement consumption is forecast to continue growing by 5% year-on-year over a five-year period to July 2027.

India: UltraTech Cement increased its sales by 28% year-on-year to US$1.9bn in the first quarter of its 2023 financial year, from US$1.48bn in the first quarter of the 2022 financial year. The company’s net profit during the quarter was US$198m, down by 7% year-on-year from US$213m in the first quarter of the 2022 financial year.

Dow Jones Institutional News has reported that UltraTech Cement recorded increased cement demand in June 2022 and forecasts full-year year-on-year consumption growth nationally. The producer said that state-backed investment in infrastructure and industrial development will support high housing demand momentum, while pressure will remain on its profitability due to high costs.

US: The Nevada Department of Transportation has approved the use of Portland limestone cement (PLC) for road construction and repairs. The department expects the move to reduce CO₂ emissions by 4000t/yr. It uses 45,000t/yr of cement in its projects. Local press has reported that transport contributed 35% of Nevada’s CO₂ emissions in 2022, making it the largest single source.

US: The Portland Cement Association (PCA) has opposed a proposed federal temporary suspension to a petrol tax. PCA president and chief executive officer (CEO) Mike Ireland said, “Pausing the federal gas tax is the wrong decision at the wrong moment. Gas tax revenues fund the Infrastructure Investment and Jobs Act (IIJA), which is a once-in-a-lifetime opportunity to remake American industry and infrastructure with sustainability at its core. Removing the funding from the gas tax will strangle the IIJA before it is even up and running.”

The passage of the IIJA has coincided with PCA's launch of its Roadmap to Carbon Neutrality, which outlines the steps needed to achieve carbon neutrality across the entire cement-concrete-construction value chain by 2050. The PCA says that implementing the changes in its roadmap will require ‘significant’ funding such as those generated from the petrol tax.

Uzbekistan/Kazakhstan: Uzbekistan-based Bekabadcement, part of United Cement Group (UGC) Holding, has become a partner in a key project to build a 350km international transport corridor connecting Uzbekistan and Kazakhstan, to be financed by the Asian Development Bank.

The company’s products are well known domestically for their use in the construction of major infrastructure facilities, such as the construction of transport corridors and modernisation of irrigation systems in Uzbekistan and Kyrgyzstan, as well as the rebuilding of the Baikonur Cosmodrome in Kazakhstan.

India: Star Cement plans to invest US$129m to establish a new 3Mt/yr clinker line. BusinessLine Online News has reported that producer currently operates 2.8Mt/yr-worth of clinker capacity across two units in Meghalaya. Star Cement says that it plans to increase its presence in the Northeast India, Bihar and West Bengal markets. It will additionally invest US$90 – 103m to establish two new grinding units with a combined capacity of 4Mt/yr at Guwahati and Silchar in Assam.

Star Cement said that projected infrastructure investment growth in Northeast India inspired its investment decision, while it opted for a 3Mt/yr kiln over a 2Mt/yr alternative due to the improved efficiencies it offers.

India: Dedicated Freight Corridor Corporation of India Limited (DFCCIL) says that it will inaugurate the 82km Punjab section of the upcoming Eastern Freight Corridor railway before the end of 2022. The line will form part of the 175km Punjab - Uttar Pradesh section and connect Western Indian cement plants and other industries by high-speed link with Central markets. Workers will divert the existing railway between Mandi Gobindgarh and Sirhind to make way for the line.

DFCCIL previously inaugurated the corridor's central Bhaupur - Khurja section in Uttar Pradesh in January 2021.

US: Eagle Materials has recorded consolidated sales in its 2022 financial year of US$1.9bn, up by 15% year-on-year. The group’s adjusted earnings before interest, taxation, depreciation and amortisation (EBITDA) was US$657m, up by 15%. Full-year cement sales totalled US$1bn, up by 7%, with operating earnings of US$260m, up by 11%. The group’s cement volumes rose by 1% to 7.5Mt.

President and CEO Michael Haack said "As we look back on another extraordinary year, I am extremely proud of our team's ability to deliver record operating and financial results despite multiple external challenges, including transportation disruptions, supply chain constraints and, of course, continuing to navigate the Covid-19 pandemic.” He added "As we begin our new fiscal year, Eagle is well-positioned, both financially and geographically, to capitalise on the underlying demand fundamentals that are expected to support steady and sustainable construction activity growth over the near and long term. We expect that infrastructure investment should increase in the latter part of our fiscal year, as federal funding from the recently enacted Infrastructure Investment and Jobs Act begins in earnest. And, despite recent interest rate increases, housing demand remains strong across our geographies, outpacing the supply of homes. Nonresidential construction activity is also picking up."

US: Cementos Argos subsidiary Argos Florida Cement has won the Slag Cement Association (SCA)’s Durability and Infrastructure awards at its 2022 Sustainable Concrete Project of the Year Awards. The producer won the awards for its supply of slag cement to two projects in Florida in 2021. Its involvement in the American Bridge Company’s SR 679 Pinellas Bayway Bridge – Structure E replacement won it the Durability award, while its involvement in Superior Paving’s State Road 52 realignment. Argos Florida Cement congratulated its customers, who also received the awards.