Displaying items by tag: Joint Venture

Spain: LafargeHolcim España has announced the launch of a joint venture called ECCO2 with Carbon Clean and Sistemas de Calor. The joint venture will develop carbon capture technology for use at the producer’s Carboneras cement plant in Almería. It will then seek to market captured CO₂ from the plant for use as a gas in local agricultural greenhouses. When commissioned in early 2023, the carbon capture system will have the capacity to capture 10% of the Carboneras plant’s CO2 emissions.

India: SCG International India has announced the launch of a joint venture with autoclaved aerated concrete block producer Bigbloc Construction. The joint venture will produce and sell lightweight concrete panels. It expects to commission a new 2.6Mm³/yr concrete panel plant in Gujarat in 2022. Bigbloc Construction holds the majority 52% stake in the venture.

Colombia: Cementos Argos and Saint-Gobain have launched a joint venture in the area of lightweight construction materials. The new business will supply the Colombian market with mortar and ‘a wide range’ of other products. Cementos Argos says that the venture will combine Saint-Gobain’s global mortars technology and know-how with its own strong leadership and local presence to accelerate the evolution of the construction market towards a sustainable future. It added that the undertaking aims to strengthen both parties’ leadership and regional growth. They expect to conclude the deal in early 2022.

Kazakhstan: Korcem, a joint venture of International Cement Korday and Nurzhan Shakirov, plans to invest US$150m in the upcoming 1.5Mt/yr Korday cement plant in Zhambyl region. The company has a mining licence for 11ha of land in Korday district. International Cement Korday, a subsidiary of Singapore-based International Cement Group, holds 88% of shares in the venture. The plant is scheduled for commissioning in mid-2023.

Chair Ma Zhaoyang said “With our accumulated capabilities and experience in the cement industry in Central Asia, as well as Nurzhan Shakirov’s extensive local expertise in Kazakhstan, we are confident that this joint venture will be another success.”

Canada/US: Brazil-based Votorantim Cimentos and Caisse de dépôt et placement du Québec (CDPQ) have completed the transaction to merge their cement operations in North America. After having obtained regulatory approval from authorities in Brazil, Canada and the US, St Marys Cement (Canada), a wholly owned subsidiary of Votorantim Cimentos can now commence with the integration process with McInnis Cement. As part of the transaction, the parties will combine their North American assets in a jointly-held entity. Votorantim Cimentos International, the international investments platform and wholly owned subsidiary of Votorantim Cimentos, will hold 83% and CDPQ will indirectly hold 17% of the shares.

The combined entity will comprise operations in Bowmanville and St Marys, in Ontario, Canada and in Detroit and Charlevoix in Michigan, Dixon in Illinois and Badger in Wisconsin in the US, along with a distribution network concentrated in the Great Lakes region - plus the Port-Daniel–Gascons plant and its distribution operations, including terminals located in Quebec, Ontario, New Brunswick, Nova Scotia and the Northeastern region of the US.

Chile: Inform has set up a joint venture with its Chilean partner, Workforce Solutions. Previously, Workforce Solutions previously acted as a local partner for the German-based software development and business process optimisation supplier. Inform says it will invest ‘significantly’ in the new joint venture and acquire shares, while the remaining stock will be held by former shareholders and executives of Workforce Solutions. The new company has officially been operating as Inform Software since mid-April 2021. It has its headquarters in Santiago de Chile.

“We see the Latin American countries as a strategically important growth market in which we are happy to invest,” said Andreas Meyer, chief executive officer of Inform. “As we move forward with this joint venture, we will expand personnel resources for sales, project delivery and customer support. It will enable us to enhance our service to our customers in Latin America and further expand our market position.”

The joint venture is intended to allow Inform to expand its presence in Latin America across all of its business areas including logistics, transportation, workforce management, airline and airport operations and fraud prevention. In addition, the company will continue to work with its two longstanding partners Portia LAC in Brazil and Quantomm Tech in Colombia, which will continue to assist in serving Inform’s customers. Inform’s artificial intelligence software products are already used in Latin America by companies including Volkswagen México, LATAM Airlines, Zurich Insurance Mexico, Zurich Insurance Argentina, Brazilian retail company Via Varejo and Chilean Mercedes-Benz importer Kaufmann.

France: Vicat has joined US-based Schlumberger New Energy, clean energy specialist CEA, Vinci Construction and the Occitan Regional Agency of Energy and Climate (AREC) in a hydrogen production technology joint venture called Genvia. The partnership will establish a ‘gigafactory’ at which to develop high-temperature reversible solid oxide electrolyser technology. The gigafactory will be situated in Béziers, Occitan. Deployment will take place via CEA’s Grenoble, Auvergne-Rhône-Alpes site.

“We are very pleased to be working alongside such experienced and strong partners as we strive to develop technologies that enable decarbonisation,” said François Jacq, chairman of the CEA. “Together, building on a set of technologies developed by the CEA over the last decade, we have ambitious growth plans for a technology that we expect to be a game-changer in the production of clean hydrogen. This initiative demonstrates an alignment of environmental and economic growth ambitions that is important for France and Europe in support of the government's and the commission's recovery plan.”

The technology Genvia plans to use is intended to achieve a high system efficiency, resulting in less electricity use per kg of hydrogen produced. The venture says that the technology is the first of its kind that is fully reversible, giving it the flexibility to switch between electrolysis and fuel cell functions.

Uzbekistan: Suppliers have completed the delivery of equipment from China for cement production at Fergana Yasin Qurilish Mollari’s Fergana cement plant. Trend News has reported that the Uzbek-Chinese joint venture will complete the second phase of the plant’s construction in July 2021, at a cost of US$120m. As a result its capacity will rise to 2.0Mt/yr.

Canada/US: Brazil-based Votorantim Cimentos says it has agreed to form a new 83%-owned subsidiary based in Toronto to combine the assets of McInnis Cement and St Mary’s Cement. Caisse de dépôt et placement du Québec (CDPQ), the current owner of McInnis Cement, will hold a 17% stake in the joint-venture. The group says that it will manufacture, distribute and sell building materials in the companies’ existing regions in Canada and the US.

Votorantim Cimentos said, “The company believes this transaction will result in the creation of a competitive, nimble and highly efficient business that will be better able to supply cement to customers in Canada and the US. In addition to strengthening the company’s presence in North America by expanding its current cement production capacity by 2.2Mt/yr and combining the company’s Great Lakes-focused distribution network with McInnis Holding’s complementary distribution network in Eastern Canada and the Northeastern USA, the Company anticipates the Transaction will result in substantial synergies.”

The transaction is subject to approval by regulatory authorities in Brazil, the US and Canada.

Myanmar: Young Investment Group Industry Company Limited (YIGICL) has entered into a joint venture with China-based China Gezhouba Group Cement (CGGC) and China Gezhouba Group Overseas Investment (CGGOI) with the aim of establishing an integrated cement plant in Mandalay, Mandalay region. The joint venture, which is held 30:70 by YIGICIL and the Chinese partners respectively, will also set up a limestone mine.