Displaying items by tag: Investment Board Nepal

Nepal: Udayapur Cement has commenced a US$4.2m upgrade and capacity expansion of its cement plant at Jaljale. The work includes replacing the shell of its 20m rotary kiln by the end of February 2021 and installing a reinforcement suspension preheater system, according to the Kathmandu Post newspaper. It will expand the plant’s capacity by 38% to 0.4Mt/yr from 0.29t/yr. The plant’s current equipment dates to 1988. Company spokesperson Laxman Pokharel said "Since the machines are old, we face frequent problems." He added that this has led to increased costs.

The Nepal government has agreed to loan Udayapur Cement US$34.4m, 80% of the project’s budget.

Nepal: The Investment Board Nepal has granted approval to Samrat Cement and Dang Cement for cement production at their upcoming integrated cement plants. New Business Age has reported that Samrat Cement will begin production at its 1.3Mt/yr cement plant in Dang Region in December 2020, and plans to increase the plant’s capacity to 1.6Mt/yr after a total investment of US$132m. Dang Cement’s 2.0Mt/yr cement plant, also in Dang region, is due for commissioning in late 2023 at a total investment cost of US$277m.

Samrat Cement Chair Mukunda Timilsina said, “We have brought modern machineries with German technology and skilled manpower is coming from India for this purpose.” He added that the plant will directly employ 500 local people and supply cement throughout western Nepal.

Nepal: Huaxin Cement has signed a project investment agreement with the Investment Board Nepal (IBN) to build a US$140m plant. Xu Gang, vice-president of Huaxin Cement signed the deal with Maha Prasad Adhikari, the chief executive (CEO) of IBN, during a visit by Nepalese Prime Minister KP Sharma Oli to Beijing, according to the Kathmandu Post. The unit will have a production capacity of 3000t/day. The local subsidiary, Huaxin Cement Narayani, has already acquired a limestone mine at Panikharkha in Dhading. The IBN will also support the project by assisting the government to build a transmission line to supply 18MW of electricity to the unit.

KP Sharma Oli also signed an agreement with the Chinese government to build a cross-border railway between Kathmandu and Kerung in Tibet.

Nepal: Investment Board Nepal (IBN) and Huaxin Cement have signed a Project Investment Agreement (PIA) for the Chinese company to build a cement plant. The agreement follows the Department of Mines and Geology’s decision to award a limestone mine in Dhading district to the Chinese cement producer, according to the Xinhua news agency. Huaxin Cement plans to spend US$140m towards building a plant with a cement production capacity of 3000t/day. The deal follows an agreement between the IBN and Hongshi Cement finalised in September 2017 to build a new plant for around US$360m.

Nepal: The Department of Mines and Geology has technically disqualified Nigeria’s Dangote Cement from applying for three limestone mine licences in an open bidding process. The Investment Board Nepal (IBN) had approved the investment in 2013 before passing the application to the mining department, according to the Republica newspaper. Department deputy director general Ram Prasad Ghimire claimed that Dangote's proposals lacked essential documents on the required skilled manpower and it was not considered qualified for the next financial proposal.

Dangote Cement had applied for three mines: two in Dhading and one in Palpa. However, China’s Huaxin and United Cements recently won two limestone mining licences. Previously, Dangote Cement purchased a limestone mine in Makawanpur that was later found to be a substandard. The Nigerian company has also faced opposition from local producers who have described the country as being self-sufficient in cement.

Nepal: Huaxin Cement is in discussions with the Investment Board Nepal (IBN) to build a cement plant. The Chinese cement producer is considering investing US$140m towards a project investment agreement (PIA), according to the Kathmandu Post newspaper. Obtaining a PIA will allow the company to work with the Nepalese government on the project.

The announcement follows a US$359m PIA with Hongshi-Shivam Cement that was signed in September 2017 for a cement plant at Sardi in Nawalparasi. The 6000t/day plant is scheduled to start commercial production in May 2018.

Nepal: The Investment Board of Nepal (IBN) has signed a project investment agreement worth US$359m with China’s Hongshi-Shivam Cement in connection with a cement plant being built at Nawalparasi. The agreement is the first of its kind signed by the IBN with a private sector company and it will last 15 years, according to the Kathmandu Post newspaper. The investment deal is the biggest made by a foreign company in the country’s manufacturing sector.

Hongshi-Shivam Cement is a joint venture between Nepal’s Shivam Holdings, which also produces Shivam brand of cement, and Hong Kong Red Lion Cement No 3, a subsidiary of China’s Hongshi Group. The Chinese company owns a 70% stake in the joint venture. Commercial production of cement is planned to start at the plant in 2018.

Nepal: The Investment Board Nepal has delayed signing a Project Investment Agreement (PIA) with China’s Hongshi-Shivam Cement due to ‘technical reasons.’ The joint venture is currently building a US$360m cement plant at Nawalparasi. The deal, which would have protected the interests of the foreign investor, has been deferred while Prime Minister Sher Bahadur Deuba visits India in late August 2017, according to the Kathmandu Post newspaper. Sources quoted by the newspaper attribute the delay to tensions perceived by the Nepalese government regarding infrastructure projects backed by India and China. The agreement is expected to be signed on 3 September 2017.

Nepal: Hongshi-Shivam Cement is building a 36km road between Nawalparasi and Palpa to connect limestone reserves to a plant it is building. The China-Nepal joint venture is building a 6000t/day cement plant in Sardi, Nawalparasil that will be completed in 2017, according to the Kathmandu Post. The company plans to double the plant’s production capacity to 12,000t/day in the next four years. Limestone reserves at Palpa are expected to last 300 years.

Hongshi Cement has invested US$360m in the project which is the largest Chinese investment in the country’s cement industry. Investment Board Nepal (IBN) approved Hongshi's proposal in July 2015.