Displaying items by tag: costs

Yemen: Pakistan-based Reon Energy has won a contract to build a microgrid equipped with a 13.5MW solar power plant and a 5.59MWh battery energy storage system for Arabian Yemen Cement. The energy storage system will employ Reon Energy’s SPARK Intelligent Energy Management product. The supplier said that the project aims to reduce energy costs by 20% and lower CO₂ emissions from Arabian Yemen Cement’s operations.

Arabian Yemen Cement chief executive officer (CEO) Waheeb Al-Azab said "Our partnership with Reon Energy signifies a monumental stride towards sustainable energy practices, enabling us to harness solar power, significantly reduce our carbon footprint and optimise fuel efficiency in our operations."

Reon Energy CEO Mujtaba Khan said "This collaboration marks a significant step in our commitment to delivering practical, efficient solutions, tailored to industry-specific energy challenges. We look forward to driving positive change in the energy landscape of the cement industry with Arabian Yemen Cement."

Egypt: Abu Dhabi Ports Group subsidiary Transcargo International (TCI) is building a bulk cement terminal at Arish port in North Sinai Governorate. The company says that the facility will be equipped with six 10,000t cement silos. Four silos will store up to 40,000t of grey cement, while two will store up to 20,000t/yr of white cement. Cementir Holding subsidiary Sinai White Portland Cement has signed a cooperation agreement with TCI to use the Arish cement terminal. TCI says that the terminal will serve multiple markets worldwide and help Sinai White Portland Cement to raise its total export volumes, thereby also raising its competitiveness.

TCI’s CEO Mohamed El Ahwal said "This project aligns with our commitment to support Egyptian exports by providing specialised logistics solutions across several industries. Building and operating Egypt’s first bulk cement terminal, we anticipate cost savings for cement producers in Egypt, making prices more competitive globally and increasing global market penetration."

Malaysia: Hume Cement Industries recorded US$65.5m in sales during the first quarter of the 2024 financial year (beginning 1 July 2023). This represents 48% year-on-year growth from US$44.2m one year previously. The producer’s profit was US$10.3m, against a US$2.57m loss in the first quarter of the 2023 financial year.

Bernama Daily Malaysian News has reported that Hume Cement Industries expects domestic cement demand to rise throughout the 2024 financial year. Nonetheless, the company said “The board remains cautious, as the uncertainties arising from geopolitical pressures continue to challenge the cement industry's input costs. The group is increasing its focus on developing sustainable construction materials in this growing economy, while continuing its efforts to enhance operational excellence.”

Italy: Cementir Holding raised its sales by 0.5% year-on-year during the first nine months of 2023, to Euro1.3bn. It sold 7.93Mt of cement, down by 3.1% year-on-year from 8.19Mt in the corresponding period of 2022. Cementir Holding attributed the decline to reduced demand, primarily in Belgium, Denmark, Egypt, Malaysia and the US. This offset an increase in consumption in China and Türkiye. The group’s operating costs dropped by 6.6% to 1.01bn, while its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 33% to Euro321m.

France: Ireland-based Ecocem hosted a symposium on the application of new materials technologies in cement production on 14 November 2023. Participating materials scientists published a statement calling on the global cement industry to make use of alternative materials to achieve CO₂ emissions reductions. In the statement, they said “It is no longer possible to say that we lack the technology or that the costs are prohibitive.”

Nigeria: BUA Cement recorded sales of US$423m throughout the first nine months of 2023, up by 27% year-on-year from US$333m in the first nine months of 2022. Growth in the group’s cost of sales outstripped revenues growth, at 31%, to US$236m. Energy costs rose by 27% year-on-year, while raw materials costs rose by 47% year-on-year. BUA Cement’s profit grew by 2.8% to US$96.4m, from US$93.9m.

Jamaica: Caribbean Cement recorded US$137m in sales during the first nine months of 2023, up by 8% from US$127m during the corresponding period in 2022. The company’s cost of sales grew by 18% year-on-year to US$82.3m from US$69.8m. This resulted in a net income of US$28.3m, up by 3.2% from US$27.4m.

India: Ambuja Cements’ sales were US$477m over the nine-month period up to 30 September 2023. This represents an 8% year-on-year rise from nine-month 2022 levels. The producer sold 7.6Mt of cement, up by 7% from 7.1Mt. It said that its electricity and fuel costs dropped by 32% year-on-year, which helped to grow its profit after tax by a factor of five to US$77.4m.

Pakistan: Gharibwal Cement recorded sales of US$15.7m during the first quarter of its 2024 financial year (FY2024), up by 14% year-on-year from US$13.8m in the first quarter of its 2023 financial year (FY2023). The producer’s earnings before interest, taxation, depreciation and amortisation (EBITDA) declined by 10% to US$3.49m from US$3.89m.

Gharibwal Cement said that it expects local cement demand to remain ‘sufficient’ to maintain its sales growth throughout the rest of FY2024. It noted that rising coal and fuel prices may further impact its earnings for the year.

Nigeria: Dangote Cement recorded sales of US$1.9bn during the first nine months of 2023, up by 29% year-on-year from nine-month 2022 levels. The group’s sales volumes of cement and clinker both dropped. The Premium Times newspaper has reported that Dangote Cement’s costs rose by 33%, primarily due to increased spending on electricity and fuel. Nonetheless, its profit after tax grew by 30%, to US$351m.