Displaying items by tag: Investment

Austria: W&P Zement says that it has commissioned an expanded 18GWh Wietersdorf hydroelectric power plant chain on the River Görtschitz in Carinthia. The chain consists of two new power plants and an existing one which the company optimised during a Euro12m project begun in October 2019. Together, the plants will supply 25% of the producer’s Wietersdorf cement plant’s electricity needs.

Technical director Florian Salzer said “With six modern Francis turbines, 18GWh of green electricity are generated in three power plants along the Görtschitz.” He added “That roughly corresponds to the supply for 3600 four-person households.”

Switzerland: Holcim has launched its Strategy 2025 – Accelerating Green Growth plan to become a global innovative and sustainable building solutions leader. Under the plan, the group will expand its solutions and products sales to account for 30% of consolidated sales by 2025. During the three-year period, it aims to deliver continuous group sales growth of 3 – 5% and over-proportional recurring earnings before interest, taxation, depreciation and amortisation (EBIT) growth on a like-for-like basis. It is also targeting a 10% return on invested capital (ROIC), cash conversion of 45% and leverage below 1.5x.

As part of the new strategy, the group will aim to recycle 75Mt of materials, including 10Mt of construction waste, in its products in 2022 – 2024. It aims to invest Euro476m in green capital expenditure (CAPEX) and link 40% of its financing agreements to its sustainable performance.

Chief executive officer Jan Jenisch said “We delivered what we promised with our Strategy 2022 one year in advance, setting strong foundations for our next era of growth. With our new level of performance, we have the firepower to invest in solutions and products to make it 30% of our company, while leading the way in green building solutions from ECOPact green concrete to energy-efficient roofing.” He added “With our Accelerating Green Growth strategy, we are ready to seize the opportunities ahead on our way to becoming the global leader in innovative and sustainable building solutions.”

India: Sagar Cements says that its subsidiary Jajpur Cements is on track to commission its new 1.5Mt/yr Jajpur grinding plant in Odisha in December 2021. The Hindu BusinessLine newspaper has reported that the company invested US$41m in the plant’s construction. Sagar Cements acquired Jajpur Cements in May 2019 for US$16m. It had previously aimed to complete the new grinding plant’s construction by March 2021.

In October 2021, another Sagar Cements subsidiary, Satguru Cement, commissioned its new US$80.6m 1Mt/yr Indore integrated cement plant in Madhya Pradesh. The completion of both projects will bring Sagar Cements’ total installed capacity to 8.25Mt/yr. the company said that the new facilities will help in its rationalisation of freight expenses and help it to diversify its sales outside of existing markets.

India: Dalmia Cement plans for 100% of its cement to be low carbon by 2031. The company has a US$405m carbon capture and utilisation (CCU) investment plan to help it to realise its goal. It will also undertake carbon offsetting measures.

Business Line News has reported that the company plans to spend US$1.35bn to increase its installed cement capacity by 52% to 50Mt/yr from 33Mt/yr before the 2024 financial year.

Chile: Cementos Polpaico has submitted an environmental impact study for a US$60m upgrade of its Cerro Blanco cement plant in Tiltil, near Santiago. Business News America has reported that the proposed work consists of the installation of a new precalciner, an expansion to its four limestone quarries and the establishment of a new filtered tailings deposit and 3000t cement silo.

The producer hopes to launch the project in January 2023 in order to commission the upgraded plant before 2026.

Nigeria: Mangal Industries has signed a contract with China-based Sinoma International Engineering for the delivery of a 3Mt/yr new integrated cement plant in the northern state of Kogi. The Daily Independent newspaper has reported that the plant will cost US$600m and generate ‘thousands’ of jobs when commissioned in early 2024. Sinoma International Engineering will also build a dedicated 50MW power plant for the plant.

Mangal Industries’ chair Alhaji Dahiru Mangal said “This investment is part of an ambitious investment programme under implementation by Mangal Industries. The factory will rely on the best available technology for cement production in line with highest environmental standards.” He added “Mangal is investing strategically in the Nigerian cement industry, to bridge the huge infrastructure and housing deficit in the largest economy of the region. This investment reinforces Mangal’s commitment to Nigeria’s infrastructural and economic development, and reflects its confidence in the favourable outlook of the economy in the country and the region.”

Sri Lanka: Lanwa Sanstha Cement says that it will commission its Hambantota grinding plant in the Mirijjawila export processing zone of Hambantota International Port in January 2022. The company says that the plant will have a capacity of 3Mt/yr and cost US$80m. The Daily News newspaper has reported that the owner aims to help to counteract the domestic cement shortage.

Chair Nandana Lokuwithana said "One of the highlights of this first-of-its-kind facility in Sri Lanka will be the emphasis on new technology, with all mixing carried out using the latest European technology, while much of the other equipment used throughout the production process has been customised by world-renowned pioneers in innovation with environmental friendliness in mind." He added "Packaging is done using state-of-the-art technology for improved efficiency and minimal wastage."

Once commissioned, the Hambantona plant will produce ordinary Portland cement (OPC), Portland slag cement (PSC), Portland limestone cement (PLC) and blended hydraulic cement (BHC), according to Lanwa Sanstha Cement.

UK: The Clean Growth Fund has led a Euro1.19m investment in cement industry decarbonisation software developer Carbon Re. Other investors are Blue Impact Ventures, Cambridge Enterprise Fund and UCL Technology Fund. The supplier says that its deep reinforcement learning AI product can reduce cement plants’ operating costs by Euro1.97 – 5.09/yr and eliminate 20% of Scope 1 emissions. Five pilot installations of its Delta Zero platform are installed at cement plants in the EU, India, Thailand, Turkey and Vietnam.

CEO Sherif Elsayed-Ali said “Our mission is to reduce global emissions at the gigatonne scale, starting with the cement industry, and to become the leading global AI company to deliver industrial decarbonisation. Carbon Re’s AI technology provides heavy industry with an effective solution to address their critical challenges of energy costs and emissions reduction.” He added “The road to a zero-carbon world will be long, but with the support of the Clean Growth Fund and our other investors, our AI-products and solutions will evolve to accelerate the transition of energy intensive industries.”

Philippines: Siam Cement Group has established a subsidiary to provide logistics services for its business in the Philippines. Reuters News has reported that the group has injected US$205,000-worth of investment into the company.

Trinidad & Tobago: Trinidad Cement has launched production of its new reduced-CO2 cement, called ECO, at its Claxton Bay cement plant. Trinidad & Tobago Government News has reported that the company invested US$73,800 in the development of the product.