Displaying items by tag: Investment
Kenya: Savannah Clinker, an associate company of Savannah Cement, has raised around US$480m to build a new integrated cement plant in Kitui county. It said it generated the funding through a privately placed debt arrangement with the bond set to be listed at regulated international exchange, according to the Business Daily newspaper.
Benson Ndeta, chairman of Savannah Cement Group, said “I am extremely proud to have the support of a major international investor who shares our vision and beliefs in what is required to deliver the growth and development of our key infrastructure and affordable housing.”
It was announced in December 2022 that China-based Sinoma International Engineering had been contracted to build the 2.92Mt/yr plant with a completion date planned for late 2024.
UK: Legal & General Capital, an alternative investment arm of financial services company Legal & General, has invested around US$15.5m in Cambridge Electric Cement (CEC) and other companies as part of its strategy to decarbonise the residential sector. It is also investing in Hometree and SunRoof, as well as increasing its existing investment in Sero Technologies.
CEC is developing process to create net zero-CO2 cement product using recycled concrete paste. It launched a two-year industrial trial of its Cement 2 Zero project in February 2023.
Titan Cement Group publishes 2022 Integrated Report
06 April 2023Greece: Titan Cement Group published its 2022 Integrated Report on 6 April 2023. The report outlines the cement producer’s financial and environmental, social and governance (ESG) performance. For the full year, the group recorded a net profit of Euro110m, up by 19.3% year-on-year. It made ‘record’ capital expenditure investments of Euro242m, and increased its net debt by 12% to Euro797m.
The group says that it is ‘on track’ to meet its ESG targets for 2025 and beyond. It reduced its specific CO2 emissions by 5% decade-on-decade in 2022. Throughout the year, Titan Cement Group continued its investments in research, development and innovation activities across all markets, with an increased focus on carbon capture, storage and utilisation. It also rolled out its digital transformation to further plants around the globe.
Government awards contract for Shur Andam cement plant
03 April 2023Afghanistan: The government's Ministry of Mines and Petroleum has awarded a contract for the construction of the 1Mt/yr Shur Andam cement plant in Kandahar Province. TOLO News has reported that planned investments in the project totaled US$100m. The government said that construction will commence before April 2024. Production will begin at a 'low level,' and in the longer term the government expects to employ 5000 people at the site.
Afghan Ministry of Mines and Petroleum close to awarding contracts for Jabal Siraj and Samangan cement plant expansions
03 April 2023Afghanistan: The Ministry of Mines and Petroleum says that it will 'soon' award contracts to carry out planned expansions of the Jabal Siraj and Samangan cement plants. Together, the projects will increase both plants' cement capacity to 1.21Mt/yr. Local press has reported that the Jabal Siraj plant project will cost US$170m and the Samangan plant project will cost US$136m.
China: Anhui Conch Cement plans to invest US$2.81bn in capital expenditure (CAPEX) throughout 2023. The investments will go towards building new capacity, upgrading to new technologies and increasing plants' energy efficiency. The Morning Star newspaper has reported that the producer currently faces high energy costs, against a backdrop of reduced cement demand.
Anhui Conch Cement recorded sales of US$19.2bn in 2022, down by 21% year-on-year from US$24.4n in 2021.
Mason City Cement plans alternative fuels upgrade
27 March 2023US: Heidelberg Materials subsidiary Mason City Cement plans to invest US$4 - 5m in upgrades to its kiln line by 2026. Upon completion, the work will enable the plant to achieve an alternative fuel (AF) substitution rate of 50%.
Heidelberg Materials' North America regional vice president of government affairs and communications David Perkins said "We want to be proactive as a company and really try to lower our carbon footprint and energy intensity, while recognising we have to be competitive." He added "We're a long-term industry on the cement side because of the investment that's required to produce it."
India: Ambuja Cements' parent company Adani Group says that the cement producer aims to more than double its sales to US$8.5bn in 2028. Ambuja Cements currently expects to record sales of US$3.61bn in 2023. It is targeting an earnings before interest, taxation, depreciation and amortisation (EBITDA) margin of 25% in 2028. Its EBITDA margin averaged 19% in the period from 2020 to 2022.
Dow Jones Institutional News has reported that Ambuja Cements' internal accruals are sufficient to fund US$5.58bn in capital expenditure (CAPEX) over the same period, according to the company. It says that it plans to double its capacity through CAPEX investments before 2028.
Belgium: Holcim Belgium has received an environmental permit for the kiln upgrade for its 100% decarbonisation of its Obourg cement plant. Agency Belgium News has reported that the upgraded kiln will employ a 'new incineration concept' to enable it to replace limestone with alternative raw materials. It will reduce the plant's thermal needs by 40% and its CO2 emissions per tonne of clinker by 30%. Construction will commence in late 2023. The kiln replacement will support a carbon capture installation as part of the GO4ZERO project.
The first phase of the GO4ZERO project is running from 2022 to 2025, and commands total investments of over Euro350m.
ECEBOL to commission Potosí cement plant in June 2023
20 March 2023Bolivia: Empresa Publica Productiva Cementos de Bolivia (ECEBOL) now expects to commission its upcoming 1.3Mt/yr Potosí cement plant in June 2023. It would then begin selling bagged cement from November 2023 onwards. The La Razón newspaper has reported that ECEBOL has recorded 'physical progress' on the project of 92%, and executed US$264m-worth (85%) of a total planned investment of US$311m.
ECEBOL ran successful empty tests on installed equipment earlier in March 2023. Government representatives and local stakeholders will visit the plant on 30 March 2023.