South Korea's nine-month Russian coal imports rise in 2022
South Korea: Russia exported 14.9Mt of cement in the first nine months of 2022, up by 31% year-on-year from 11.4Mt in the corresponding period of 2021. Tex Energy Report News has reported that this occurred due to sharp price rises in imported coal from Australia, Canada and Indonesia. Cement producers increased their reliance on these alternative sources of coal after the South Korean government placed sanctions on Russia in March 2022.
Meanwhile in India, Russian coal imports are expected to decline for a second consecutive month in October 2022, by 51% month-on-month to 730,000t. Russian media attributed this to stockpiling by cement market leader UltraTech Cement and others earlier in 2022.
Udayapur Cement seeks US$3.82m government loan
Nepal: Udayapur Cement has urged the Nepalese government's Ministry of Finance to process its application for a loan of US$3.82m. The Kathmandu Post newspaper has reported that the producer plans to invest in an upgrade to its 800t/day-capacity Gaighat cement plant in Province No.1. The plant is reportedly unable to meet its capacity due to frequent issues with its 33-year-old equipment. The producer hopes that an upgrade will increase the plant's production capacity by 41% to 2.5m bags/yr. It also expects its expenditure on coal to fall by 25% as a result.
Director general Gopi Neupane noted the Gaighat cement plant's access to high quality limestone not available elsewhere in the country. He said "We will turn the factory into a profit-making enterprise if the additional investment is provided. We have huge scope for exporting cement to Uttar Pradesh and Bihar (in India)."
India: Ambuja Cements sold 6.7Mt of cement during the second quarter of its 2023 financial year, up by 12% year-on-year. Its standalone revenues were US$443m, up by 13% from second-quarter 2022 financial year levels. Cost growth outstripped sales at 32% year-on-year, resulting in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$36.7m, down by 57% year-on-year.
CEO Ajay Kapur said "The cement industry has been facing significant margin pressure resulting from a steep rise in global energy prices. However, recent cooling off in energy prices and post-monsoon demand pickup appears to present a silver lining for the coming quarters."
Kapur said that Ambuja Cement's focus is currently on future capacity expansions, with the aim of becoming India's market leader.
China: China Resources Cement (CRC) plans to sell subsidiaries CRC Changzhi and China Resources Concrete (Lucheng) for US$168m or more. CRC Changzhi operates a 2Mt/yr cement plant in Changzhi City, Shanxi Province. Both it and China Resources Concrete (Lucheng) serve the Shanxi Province market.
Pakistan: Fauji Cement has recorded first-quarter sales of US$67.2m in its 2023 financial year, up by 27% year-on-year from US$52.9m during the first quarter of the previous financial year. The producer's cost of sales was US$47.9m, up by 29% from US$37.3m, and it recorded a profit for the period of US$10.6m, up by 10% from US$9.62m.
Fauji Cement is currently undergoing a transition into the third largest cement producer in Pakistan, through a US$122m 2.05Mt/yr expansion to its Nizampur, Khyber Pakhtunkhwa, cement plant and a US$148m 2.05Mt/yr expansion to its Dera Ghazi Khan cement plant. Together, Fauji Cement will fund the projects through US$171m-worth of debt, US$54.9m-worth of internal cash generation and US$45.7m-worth of equity.
John King Chains named MHEA Supplier of the Year
UK: The Materials Handling Engineers Association (MHEA) has named John King Chains as the UK’s Supplier of the Year to the materials handling industry.
Managing director David Wadsworth said “It is fantastic to achieve such a prestigious award, and one that confirms that our continual reinvestment into best manufacturing equipment and techniques over the years was the right decision, backed up by our remarkable workforce, who cannot be underestimated." Wadsworth added "We are pleased to also inform our clients that we have further exciting plans in the pipeline, and one we aim to announce to the industry in
early 2023!”
UAE: Asian Paints has partnered with Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company in a 60:40 joint venture for the purpose of white cement and white cement clinker production. The joint venture will invest US$66.5m in the construction of a planned 265,000t/yr integrated cement plant in the Emirate of Fujairah. The project will take until October 2024 to complete. In addition, the new company plans to establish grinding units in India to serve the export market.
Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company operates limestone mines in Fujairah.
Bestway Cement commissions Mianwali cement plant
Pakistan: Bestway Cement has ignited the 7200t/day kiln at its new Mianwali integrated cement plant in Punjab Province. The plant has 20MW of dedicated solar power capacity and 9MW of waste heat recovery (WHR) power capacity.
Askari Cement ignites Nizampur cement plant's new kiln
Pakistan: Askari Cement has ignited the newly installed 6500t/day kiln at its Nizampur cement plant in Khyber Pakhtunkhwa province. The kiln increases the plant's capacity by 73% to 4.85Mt/yr. The project, along with parent company Fauji Cement's construction of a new 2.05Mt/yr integrated cement plant in Dera Ghazi Khan, cost US$339m. Fauji Cement took a US$212m loan to support the works in January 2022. The group expects both projects to raise its capacity by 56% to 10.5Mt/yr and to increase its market share to 13%.
Fauji Cement's upcoming Dera Ghazi Khan cement plant is scheduled for commissioning in mid-late 2024.
Kogi State government takes Dangote Industries to court
Nigeria: The government of Kogi State has filed a lawsuit against Dangote Cement's parent company Dangote Industries. The state government claims no payment was received for Dangote Cement's acquisition of the Obajana cement plant upon its privatisation in 2002, according to the Advocate newspaper. If the legal case is successful it could void the cement producer’s contract with the state government.
The National Security Council ordered the reopening of the Obajana cement plant in the national interest on 14 October 2022, following its closure by order of the Kogi State Assembly.