India: Ramco Cements has raised the clinker capacity of its Kolimigundla cement plant by 26%, to 3.15Mt/yr from 2.5Mt/yr. The Hindu newspaper has reported that Ramco Cements plans to invest US$192m in capital expenditure (CAPEX) during the 2024 financial year (1 April 2023 – 31 March 2024), and a further US$24 – 30m in on-going projects in the 2025 financial year. The producer said that its projects, involving its cement, concrete and energy operations, are proceeding ‘on track.’ These include an expansion of its Odisha grinding plant to double its capacity to 1.8Mt/yr.

Egypt: NI Capital, the investment arm of Egypt’s National Investment Bank, plans to sell its 10% stake in Misr Cement Qena. The Al Borsa newspaper has reported that the company is preparing to tender for a financial advisor for the intended sale. The divestment would form part of a US$5bn International Monetary Fund (IMF)-mandated privatisation programme, due to conclude before June 2024.

India: Star Cement is reportedly considering acquiring new cement assets in the southern India market. The Hindu newspaper has reported that the producer expects cement production capacity there to have a lower valuation than in its native north east India, due to its larger scale.

CEO Vinit Kumar Tiwari said “We have to find a target which is suitable for our appetite. We are open to all the areas. Obviously, the southern market is a more glut market. So, if we find any opportunity there at a good valuation, only then will we go for it.” He added “The next round of consolidation in the industry should be in the southern market because this market is quite fragmented and players are operating at a very low capacity utilisation.”

Star cement expects to raise its capacity by 70% to 9.7Mt/yr by early 2026 through US$264m-worth of expansion projects, including an expansion to the clinker line of its Lumshnong cement plant in Meghalaya. To date, it has invested US$108m in the projects.

Europe: Cemex says that sales of reduced-CO₂ cement from its Vertua range comprised 20% of its sales in Europe by volume in November 2023. The range includes Vertua Supreme cement, which offers 55% lower CO₂ emissions than ordinary Portland cement (OPC). Cemex attributed its success in developing Vertua Supreme cement to advances in product design and manufacturing technology, including the use of hydrogen in its cement kilns.

Belgium: China National Building Material subsidiary Sinoma International Engineering won a contract to build a new clinker line for Holcim Belgique on 8 December 2023. Yicai Global News has reported that Sinoma International Engineering will design the line, supply its mechanical and electrical equipment, procure steel structures and provide technical services under a contract worth Euro218m. The supplier expects to commission the line within 38 months of commencement of the project.

Holcim Belgique operates the 1.7Mt/yr Obourg cement plant in Mons. The plant is upgrading to net zero CO₂ cement production under the GO4ZERO project, as part of which Holcim Belgique previously announced plans to install a new kiln in the place of the plant’s existing ones.

Croatia: The European Climate, Infrastructure and Environment Executive Agency (CINEA) has granted Holcim Hrvatska Euro117m-worth of EU funding for its KOdeCO Net Zero decarbonisation project. The project aims to decarbonise cement production at the company’s 500,000t/yr Koromačno cement plant in Istria by building a Euro237m carbon capture system there.

Holcim Hrvatska says that the project will commence in January 2024 and conclude by the end of 2028.

Uganda: Holcim subsidiaries Bamburi Cement and Cementia Holding have negotiated a price of US$120m for Hima Cement with buyer Sarrai Group. Business Daily News has reported that the price is 14% higher than the company’s previous valuation. The parties said that the agreed price takes into consideration ‘multiple factors,’ including Hima Cement’s performance in 2022 and forecast performance for 2023.

Mexico: Cemex has increased its borrowing under a credit agreement with Banorte by 15% to US$347m, and extended its maturity to 2028 from 2026 previously.

Cemex told investors "The credit agreement, denominated in Mexican pesos, will have an interest rate margin dependent on the leverage ratio slightly lower than that applicable prior to the refinancing, and financial obligations consistent with an investment grade capital structure."

France: Climate protest group Earth Uprising says that it will target sites belonging to Holcim subsidiary Lafarge France for demonstrations as part of planned actions between 9 and 12 December 2023. Ouest France News has reported that the demonstrations will include a ‘festive but determined’ gathering at Lafarge France’s Saint-Barthélemy-d'Anjou concrete plant in Maine-et-Loire on 10 December 2023.

Lafarge France said “The people who intend to respond to this call for mobilisation against our sites have the wrong target. Of all industrial sectors, ours is moving the fastest and strongest in favour of the climate.” It added “Moreover, we are useful to society. The country's needs for housing, public facilities and infrastructure are immense, and concrete represents the best solution to meet them.”

US: Mexico-based GCC has hired ThyssenKrupp Polysius North America to build a 3000t/day clinker production line at its Odessa plant in Texas. When commissioned in late 2025, the line is expected to more than double the plant’s clinker capacity to 2Mt/yr across three kilns. The supplier says the project will also lower the plant’s annual CO₂ emissions by 13%.

GCC chief executive officer Enrique Escalante said "We remain strongly committed to delivering strong stakeholder value, while investing in the future growth of our business. With the expansion of the Odessa plant, we will ensure GCC is prepared for a new phase of the industry cycle."