Displaying items by tag: Kazakhstan

Kazakhstan: Gezhouba Cement Group Co Ltd plans to construct a cement plant in Shiyeli, Kyzylorda with partner Corporation Dan Ake to form the joint venture, Gezhouba - Shiyeli Cement. Construction of the 1Mt/yr cement plant will begin in February 2016 and create 400 new jobs.

Gezhouba Cement said that the region has created favourable conditions for investors and the implementation of joint projects. "Gezhouba Cement is known not only in China but also abroad. It is included in the list of the best companies for the production of cement. On 23 December 2014 an agreement for the implementation of joint projects in Kyzylorda was signed. We are grateful to the CEO of Corporation Dan Ake, Daulet Turlykhanov, for having helped to attract investors. In addition, our side will create all the conditions for the realisation of the project," said region Governor, K Kusherbayev.

Kazakhstan: Steppe Cement has disclosed a rise in its third quarter 2015 revenue and sales volume. Its revenue rose to US$28.2m compared with US$27.8m in the same period of 2014. Some 630,329t of cement was sold during the third quarter of 2015, up by 8% year-on-year. For the nine months that ended on 30 September 2015, Steppe Cement's revenue fell to US$58.3m from US$60.9m in the same period of 2014.

Kazakhstan: Huaxin Cement plans to a 5Mt/yr capacity cement plant in Kazakhstan. The plant would use a dry-process cement line and will start construction by the end of 2015. The project will cost around US$111m.

Kazakhstan: The Kazakh Vice Minister of Investment and Development of Kazakhstan Albert Rau has met with President of Vicat Group Guy Sidos and honorary president of the group Jacques Merceron-Vicat to discuss the operation and possible extension of Vicat's existing production plant at Zhambyl. The meeting also announced the construction of a US$10m terminal in Astana in 2016. The terminal will also act as a packing plant, research and testing centre.

Kazakhstan: According to Dow Jones, Steppe Cement said that it sold more cement, but at a lower price, in the first half of 2015 due to the unfavourable exchange rate between the Kazakhstan Tenge and the Russian Ruble. The company sold 717,654t of cement for US$44.4m in the first half of 2015, compared to 709,459t of cement for US$48.9m in the same period of 2014.

Kazakhstan: International Cement Kazakhstan (ICK), an indirect wholly-owned subsidiary of Compact Metal Industries, has entered into a joint-venture agreement with Nurzhan Shakirov to establish a joint-venture for the construction of a cement plant in Almaty, Kazakhstan and thereafter, for the production and sales of cement.

Kazakhstan: Steppe Cement's Malcolm Brown will retire as the non-executive chairman on 28 May 2015 due to health reasons. He does not intend to stand for re-election in the forthcoming AGM. He has served on the board for more than six years, since December 2008 and is a member of the audit and remuneration committees. Brown remains as a shareholder of Steppe Cement. The company is currently searching for an appropriate candidate to replace Brown.

Kazakhstan: Steppe Cement Ltd has swung to a large pre-tax loss for 2014. The company said that its results were affected by the depreciation of the country's currency, the devaluation of the Russian Ruble and lower oil prices.

For the year ended on 31 December 2014, Steppe Cement reported a pre-tax loss of US$8.1m, compared with a pre-tax profit of US$13m in 2013, on revenues of US$117m and US$128m, respectively. Steppe Cement produced 1.6Mt of cement in 2014, up by 18% from the year ago period. It expects the overall Kazakh market demand for cement in 2015 to increase by 3% to 8.8Mt.

Kazakhstan: The Semey cement plant has been expanded to 1Mt/yr of cement production capacity. In the frame of the Nurly Zhol programme, the most of the cement will be utilised for road construction. The contracts for cement delivery have been already signed.

Kazakhstan: Steppe Cement produced 1.61Mt of cement in 2014, up by 18% from 1.37Mt in 2013. Its revenue was US$114m in 2014, up by 7% from US$106m in 2013.

In 2014, cement consumption in Kazakhstan was estimated to have increased to 8.5Mt, 4% higher than in 2013. Steppe Cement's market share increased from 17% in 2013 to 19% in 2014, broadly in line with its expectations. Kazakhstan imported 1.1Mt, a 26% fall on 2013, while exports amounted to 500,000t, 150% higher than in 2013.

Devaluation of the Kazakh Tenge combined with reduced cement prices helped local cement producers to gain market share. Steppe Cement's margins fell due to lower cement prices, the devalued Tenge and inflation. However, some of the cost increases should be compensated by the reduced operating costs of the plant's Line 5 following upgrades to increase its capacity.