Displaying items by tag: Investment

India: Udaipur Cement Works plans to raise US$114m through an issuance of non-convertible debentures (NCDs). India Infoline News Service has reported that the company will use the money it raises to fund Phase 1 of its on-going expansion project.

Mexico/US: GCC plans to invest US$500m over the next three years to the end of 2024 on increasing its production capacity and strengthening its logistics and distribution network in North America. New projects in development include the expansion of a cement plant, debottlenecking at the integrated Samalayuca plant in Mexico, the construction of two new terminals and other projects to improve the company’s operational efficiency and its social and environmental strategy. The cement producer reported strong sales in 2021 and it expects even better results in 2022 and 2023, particularly in the US, due to the effect of the US infrastructure bill.

Notably GCC reported that both the kilns at its Odessa plant in Texas were running at full capacity in 2021 and an additional kiln at a plant in Chihuahua, Mexico was complimenting supply to the US state. High demand was also recorded in Montana.

Kenya: Savannah Cement plans to build an 2.5Mt/yr clinker plant in Kitui, Kitui County. The Standard newspaper has reported that the company has announced a US$352m bond issuance in order to raise funds for the project.

Puerto Rico: Cemex Puerto Rico has successfully renewed its licence for use of Pier 16 at the Port of San Juan until 2042. Puerto Rico Ports Authority executive director Joel Pizá Batiz estimated Cemex Puerto Rica’s contribution to the territorial economy to be US$20m in 2020 and its total investments in the island to be US$400m.

The Metro Puerto Rico newspaper has reported that Puerto Rican cement consumption was 590,000t in 2020.

India: UltraTech Cement plans to invest US$129m in capacity expansion projects in order to increase the production capacity of its Birla White brand white cement by 93% to 12.5Mt/yr from 6.5Mt/yr. The Aditya Birla subsidiary says that it will commission the new capacity in a phased manner. The investment aims to strengthen Birla White cement’s presence in the growing white cement market and to reduce its dependence on high-cost imports.

India: Dalmia Cement (Bharat) has commenced cement production at its upgraded 2.9Mt/yr Murli cement plant in Maharashtra. The company invested US$125m to install a new fueling system, waste heat recovery (WHR) plant and solar power plant at the facility. It acquired the plant from Murli Industries for US$55.2m in 2020.

The new commissioning brings Dalmia Cement (Bharat)’s total installed capacity to 35.9Mt/yr.

Philippines: The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives to San Miguel Equity Investments a for the construction of its 2Mt/yr Mindanao cement plant. The Manila Bulletin newspaper has reported that the producer will pay no tax on its income from the plant during its first two years of operations, and reduced taxes during the subsequent five years.

The FIRB said that it expects the US$195m plant to stimulate downstream businesses, promote the use of energy-efficient equipment and lead to a transfer of knowledge and increased productivity in the underdeveloped area where it will be located.

India: Sagar Cements has announced the commissioning of its 1.5Mt/yr Jajpur grinding plant in Odisha. The plant commenced operations in early January 2022, slightly behind its scheduled December 2021 commissioning date. Jajpur Cements received clearance for the plant in September 2020 and invested US$41m in its construction.

Pakistan: Fauji Cement has taken out a loan of US$212m from a consortium lead by Habib Bank Limited. The Business Recorder newspaper has reported that the funding will go towards cement plant expansion projects with a total cost of US$339m. Fauji Cement plans to expand its plant in Dera Ghazi Khan, Punjab, while its subsidiary Askari Cement plans to expand its plant in Nizampur, Khyber Pakhtunkhwa. The company says that the projects will together increase its installed cement production capacity to 10Mt/yr.

Afghanistan: The acting deputy prime minister of the interim government in Afghanistan hosted talks between investors from Afghanistan and Russia on 4 January 2021. Anadolu News Agency has reported that the investors plan to collaborate on the establishment of a new cement company.

Acting deputy culture and information minister Zabiullah Mujahid tweeted that the meeting covered the establishment of cement plants‘in detail’. He added that the government will strive to establish investor-friendly laws.