Displaying items by tag: agreement

China: West China Cement will sell Yili Yaobai Cement, Huocheng County Nangang Xixin Mining Industry and Xinjiang Baihang Environmental Protection Technology to Anhui Conch Cement and Conch (Shaanxi) for US$55m via its subsidiary Yaobai Special Cement Group, according to MT Newswires. It will also divest three additional assets for US$22.5m, US$128m and US$23.7m under separate agreements. The sales remain subject to board approval and other conditions.

Russia: The Union of Cement Producers (SOYUZCEMENT) and National Research Tomsk Polytechnic University (TPU) have signed a cooperation agreement to strengthen ties. The partnership will focus on cement engineering, including reverse engineering, development of technological equipment, and solutions to enhance the cement sector’s ‘technological sovereignty’ and environmental safety, according to RBC News.

The two parties will also work together on a cement project. Executive director of SOYUZCEMENT Daria Martynkina said “SOYUZCEMENT, together with Tomsk Polytechnic University, is implementing a project to create a standard line for the production of dry cement with a capacity of 1Mt/yr, consisting entirely of Russian and Belarusian equipment. Colleagues from TPU have already joined this process, and I am sure that the agreement will help to intensify cooperation.”

Trinidad & Tobago: Trinidad Cement (TCL) has amended its loan agreements with Citibank and Scotiabank for the third time. The TCL board entered a third amended and restated agreement to its 24 July 2018 loan deal, under which Citibank and Scotiabank will each lend US$20m.

The loan repays TCL’s obligations under earlier agreements with Republic Bank and RBC Merchant Bank dated 22 July 2021. TCL’s parent company Cemex guarantees the loan. It owns 69.83% of TCL through holding company Sierra Trading.

Canada/Greece: Titan Group and Carbon Upcycling Technologies have entered into a memorandum of agreement to explore the commercial deployment of Carbon Upcycling’s technology for producing local, low-carbon building materials. Carbon Upcycling will conduct feasibility studies at two Titan cement plants, with the aim of producing supplementary cementitious materials using captured CO₂ and local materials.

Carbon Upcycling’s demonstration plant is currently operating in western Canada, and the company is now developing its flagship commercial-scale project in eastern Canada.

Türkiye: Cementir Holding subsidiaries Çimentaş and Alfacem have entered a binding agreement to sell 100% of Kars Çimento to Arkoz Madencilik. Kars owns a 0.6Mt/yr integrated cement plant in northeastern Türkiye. The transaction is valued at €51m and is expected to complete by the end of 2025, subject to regulatory approvals. The company currently employs approximately 90 people.

Cementir Holding chair and CEO Francesco Caltagirone said “This divestment is part of our commitment to enhancing our operational efficiency and strengthening our competitive positioning by focusing on high-growth regions.”

Uganda: Lands, Housing and Urban Development minister Judith Nabakooba said that the government and the Naita-A-Tepeth Communal Land Association have finalised a lease agreement to enable Tororo Cement to build Uganda’s first clinker plant in Katikekile, Moroto District. Nabakooba said that the project began in 2023, and will reduce clinker imports and conserve foreign exchange.

According to a social media post by the ministry, the agreement includes the sale of 202 hectares to Tororo Cement for the plant site, the lease of 3824 acres to the Uganda Investment Authority and the titling of institutional land for local public use.

Mexico: Cemex has executed an investment agreement with Spain-based AI and analytics company Optimitive through its corporate venture capital arm Cemex Ventures. The company seeks to scale Optimitive’s solution across its operations as part of its Digital Innovation in Motion programme. It aims to significantly reduce energy consumption while increasing production efficiency by ‘double-digit percentage points’, according to a press release.

Alfredo Carrato, investment and open innovation advisor at Cemex Ventures, said “We are excited about this partnership with Optimitive, given the impressive results they have already achieved in Europe and the US in projects to date with Cemex.”

US: Mexico-based GCC has concluded two bank loan agreements totalling US$135m to fund the expansion of its cement plant in Odessa, Texas. The loans have five- and ten-year maturities respectively, and will support development at the site. GCC did not provide further details in its statement.

It said “These facilities reflect GCC's continued commitment to strengthen its operating and financial performance, while increasing the company's financial flexibility.”

In addition to the Odessa plant, the producer has cement plants in Rapid City, South Dakota; Trident, Montana; Tijeras, New Mexico; and Pueblo, Colorado.

Türkiye: TSKB (Industrial Development Bank of Türkiye) has signed a €75m investment loan agreement with Oyak Cement to fund renewable energy and waste heat recovery (WHR) projects. The funding will support the construction of a 115MW solar power plant in Beypazarı, Ankara, and waste heat recovery facilities at the Ankara, Adana and Mardin cement plants.

Oyak Cement general manager Murat Sela said “We have accelerated our investments for the Beypazarı solar power plant, as well as the WHR facility investments with a total installed capacity of 13.5 MW at our Adana, Ankara and Mardin plants. We expect these investments to help generate 237,000MW/yr of energy, while increasing the total renewable energy utilisation rate at our plants from 9% to 30%.”

Denmark: Air Liquide and Cementir Holding, via its Danish subsidiary Aalborg Portland, have signed the European Innovation Fund grant agreement for the ACCSION project at the Aalborg cement plant. The project aims to reduce the plant’s CO₂ emissions by 1.5Mt/yr, with the captured CO₂ transported via pipeline to onshore CO₂ storage facilities.

The value of the Innovation Fund grant is €220m, fully financed by the EU Emissions Trading System.