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News Qizilqumsement

Displaying items by tag: Qizilqumsement

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Uzbek cement sales via commodity exchange fall by a quarter in 2022

15 February 2023

Uzbekistan: Cement sales via the Uzbek Commodity Exchange fell by 24% year-on-year to 6.9Mt in 2022. Monthly sales hit a high of 0.82Mt in June 2022, according to Uzbekistan Newsline. Qizilqumcement retained a 40% share of sales but Akhangarancement’s share fell to 19% from 22% previously and Almalyk MMC’s share dropped to 12% from 23%.

By region Tashkent and the Tashkent region held a 25% market share, the Surkhandarya region a 13% share, the Bukhara region a 12% share, the Navoi and Kashkadarya regions a 10% share and the Samarkand and Jizzakh regions held a 8% share each. Data released by the national Agency of Statistics revealed that overall ordinary Portland cement (OPC) production fell by 3% to 11.4Mt in 2022 from 11.8Mt in 2021.

Published in Global Cement News
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Update on Uzbekistan, January 2022

26 January 2022

An acquisition in Uzbekistan by Russia-based Akkerman Cement this week highlights resurgence in the local market.

The subsidiary of USM has just purchased a majority stake in Akhangarancement with the help of financing from Gazprombank. No value for the acquisition has been disclosed. However, the move follows the sale of Russia-based Eurocement to Smikom in early 2021. Then in June 2021 Eurocement sold off its majority stake in Akhangarancement to Cyprus-based Lamanka Enterprises for US$53m. Now, as part of the sale to Akkerman Cement, the start of a new 2.5Mt/yr dry process production line at Akhangarancement in 2021 has also been highlighted. As for Akkerman Cement’s interest in become a multinational cement producer, it said that, “The investment in Akhangarancement, like all USM investments in Uzbekistan, is primarily aimed at the development of this country, the small homeland of Alisher Usmanov, the main shareholder of USM.”

Aside from any potential sentimental yearnings from a billionaire, the Akhangarancement deal follows a few developments in the Uzbek market in recent months. At the start of January 2022 the state assets management agency UzAssets agreed to sell the government’s majority stake in Qizilqumcement for US$174m to United Cement Group (UCG). This was a significant move locally given the size of UCG in the Central Asian states. UCG operates two integrated plants and one grinding unit in Uzbekistan. The acquisition of Qizilqumcement’s 3.4Mt/yr plant now makes UCG the largest cement company by production capacity in the country. It has also been building a new production line, like Akhangarancement, with commissioning last reported as scheduled as sometime in 2022.

Finally, the other recent development in Uzbekistan occurred in December 2021 when China-based Anhui Conch announced that it had started building a new 2.5Mt/yr cement plant in the Akhangaran district in Tashkent. The project has a price tag of US$200m.

Graph 1: Cement production in Uzbekistan, 2016 – 2021. Source: State Committee of the Republic of Uzbekistan on Statistics.

Graph 1: Cement production in Uzbekistan, 2016 – 2020. Source: State Committee of the Republic of Uzbekistan on Statistics.

In early 2021 the government suspended tariffs on cement imports and this was then later extended into late 2022. President Shavkat Mirziyoyev says he signed the decree to keep house prices low. Subsequently, imports grew by 26% year-on-year to 2.2Mt in the first nine months of 2021. The main importers were Kazakhstan (44%), Tajikistan (25%) and Kyrgyzstan (25%). Graph 1 above shows recent annual production trends over the last five years. So far in 2021, to September 2021, overall domestic cement production rose by 17% to 9.08Mt. In 2020 annual production was about the same as the country’s production capacity of 10.3Mt/yr.

The mixture of Russian and Chinese companies involved with the recent plant acquisitions and new projects chimes with the general position of the Uzbek economy and its geographical position between the larger economies of Russia and China. For example, January 2022 data from the Uzbek State Statistics Committee showed that bilateral trade with Russia overtook that with China in 2021 for the first time since 2014. The two countries have had similar trade turnover with Uzbekistan over this period. Since the mid-2010s the national economy has liberalised and investment by foreign companies into industries like cement reflects this. The sale of Qizilqumcement also shows the further movement of state assets into private ownership. With apparent production utilisation closing to 100% and the government encouraging imports, it’s a good time to be a cement producer in Uzbekistan. Accordingly, foreign cement companies are investing.

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United Cement Group to acquire Uzbekistan government’s 87% stake in Qizilqumcement

05 January 2022

Uzbekistan: The state assets management agency UzAssets has agreed to sell the Uzbek government’s 87% stake in Qizilqumcement for US$174m, according to the UzDaily newspaper. Under the terms of the deal, United Cement Group will maintain the plant’s personnel and the level of their pay, implement the approved modernisation programme and continue to provide training, support social projects in Navoi region and organise events in the community.

Published in Global Cement News
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Qizilqum Cement’s sales fall in first nine months of 2021

25 October 2021

Uzbekistan: Qizilqum Cement’s nine-month sales fell by 11% year-on-year in 2021. A 4.4% decline in cost of goods sold failed to create earnings before interest (EBIT) growth during the period. The company recorded a 36% fall in EBIT.

Bluestone Investment Bank recorded 4.5% year-on-year growth in Uzbekistan’s volume of construction during the first nine months of 2021. In the first eight months of the year, its cement companies produced 8Mt of cement, up by 18% year-on-year. Cement imports rose slightly to 0.56Mt.

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IKN to equip new line at Qizilqumsement cement plant

24 March 2021

Uzbekistan: Germany-based IKN has secured a contract for process integration and equipment design for a new kiln line at Qizilqumsement’s Qizilqumsement cement plant. The supplier’s remit includes the pyroprocessing line, preheater, kiln and cooler including ID fan, kiln drive and burners. It plans to use a six-stage preheater, the region’s first. Commissioning is scheduled for 2022.

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Uzbek government seeks buyers for Qizilqumsement stake

22 June 2020

Uzbekistan: The government has announced the sale of shares in UzAssets, an investment company founded to privatise its 36% stake in Qizilqumsement. The Information Agency of the Ministry of Foreign Affairs of the Republic of Uzbekistan (DUNYO) has reported that Qizilqumsement is a 51% subsidiary of Uzpromstroymaterialy, with the remainder held by private minority shareholders. Qizilqumsement operates the 3.8Mt/yr Qizilqumsement cement plant in Navoi, Navoiy Region.

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Qizilqumsement starts US$110m upgrade

28 March 2019

Uzbekistan: Qizilqumsement has started building a US$110m upgrade to its Qizilqum cement plant. The project is intended to increasing the plant’s clinker production capacity and decrease energy costs. It is scheduled for completion in 2020.

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Qizilqumsement increases production in 2017

07 February 2018

Uzbekistan: In 2017 Qizilqumsement JSC, the biggest cement plant in Uzbekistan, increased cement production to 3.6Mt, 1.9% more than in 2016. 60% of the production volume was sold through exchange trades, 23% to direct contracts with regulated prices, 15% was exported and 2% was sold according to direct contracts based on exchange quotations. According to the business plan of Qizilqumsement JSC, cement production is expected to be at least 3.5Mt in 2018.

There are five large cement facilities and several small ones with total capacity of 8.5Mt/yr in Uzbekistan. The country exports cement to Afghanistan, Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan.

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Uzbek cement plants to carry out energy-saving projects

27 January 2016

Uzbekistan: Qizilqumsement and Bekabad Cement intend to conduct energy saving projects at their plants by the end of 2020, according to local press.

Bekabad Cement, in partnership with the World Bank, is upgrading its aeration system and the products transportation system at its cement silos. The upgrade will save more than 3MkW/hr of electric power per year. The plant is also installing a new cement ball mill with a capacity of 135 – 150t/hr. This is planned to reduce power consumption by 20%.

Qizilqumsement plans to reduce its gas consumption by 46.6Mm3, and power consumption by 57MkW/hr. A clinker silo will be built, the clinker plant will be upgraded and the closed circuit cement milling will be launched for mill #7.

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