Global Cement Newsletter

Issue: GCW596 / 22 February 2023

Headlines


The Portland Cement Association (PCA) has launched a new website to promote the US cement industry’s progress towards net zero. It’s always interesting to see the different approaches the various associations around the world take in promoting the sector especially in response to mainstream media coverage that has often taken a negative view of cement and concrete. As sustainability thinking has permeated into society the stereotype that cement production releases vast amounts of CO2 for little gain has been a hard one to shake off. Readers can draw their own conclusions on how well the PCA site works by looking at cementprogress.com.

Make no mistake, the PCA’s new website is a marketing tool designed to bring out some of the points of its carbon zero roadmap to a wider audience. Yet it is refreshing to see a national association website attempting to tell the general public what progress the cement industry is making towards reducing its CO2 emissions. Unfortunately, it then avoids giving out any data that presents an overview of how it’s all actually going. This may come with time though as the roadmap was only released in late 2021. One number that does stick out on the site is that the PCA uses the Environmental Protection Agency’s (EPA) carbon emissions data to calculate that the manufacture of cement accounts for 1.25% of total CO2 emissions in the US. This is lower than the global figure of 7% that is often used from the Center for International Climate and Environmental Research - Oslo’s (CICERO) research. Both figures appear to be broadly correct based on the available data.

The real story here is to showcase the wide range of actions the PCA is taking as part of its roadmap. In the cement section, for example, the PCA is rightly able to demonstrate its recent work driving the transition to Portland Limestone Cement (PLC) production in the US. This then leads on to the usual beats of resilient construction, carbonation and a ’whole society’ approach to tackling the decarbonisation of the cement industry with suggestions that everybody from citizens to contractors to policy makers can do.

The wider context is that the big challenge facing cement advocacy groups today is that sustainability is a global issue but that such groups have generally been national or regional for most of their history. The national or regional cement associations have existed for decades serving the local needs of their members. This started to change in 1999 when the Cement Sustainability Initiative (CSI) was created with its global approach to sustainability for the sector with its data gathering and technology roadmaps. In the 2010s global media attention started to focus on the large share of CO2 emissions the cement industry was emitting as, coincidentally, China became the world’s largest cement producer. Then in the late 2010s the two global cement associations - the Global Cement and Concrete Association (GCCA) and the World Cement Association (WCA) - emerged with the GCCA taking over what the CSI did previously.

One problem that the PCA and the other associations face is that decarbonising the cement and concrete sectors is hard to do, expensive and will take decades. Until, or if, carbon capture is suddenly conjured up at scale, all of this work is inherently seen as boring by much of the media compared to, say. young photogenic environmental activists supergluing themselves to roads. One way to fight back against this is to show progress font-and-centre and to try and take back control of the narrative. This appears to be what the PCA is trying out in a more direct fashion than usual. The risk though is that any action by an industry-backed lobbying group to show off the work it is doing will simply be labelled as greenwashing, whether it’s fair or not. Of course, some environmentalists indulge in their own reverse version of this (industry staining?) to make the powerful but simple argument about the necessity of cutting CO2 emissions but without taking fully into account or underplaying the scale of the societal changes necessary to do so. Either way, the cement industry and its advocates have an uphill struggle on their hands in the years ahead. This may require fresh thinking about how to win over hearts and minds.

The March 2023 issue of Global Cement Magazine includes an interview with Claude Lorea from the Global Cement & Concrete Association (GCCA)


Spain: Holcim España has appointed José María Gómez as the director of its Jerez cement plant near Cadiz. Gómez previously worked as the Head of Production at the Montcada i Reixac cement plant near Barcelona. He holds over 15 years of experience with the company, including in Malaysia. He is a graduate in environmental sciences from the University of Castilla-La Mancha.


Algeria: Lafarge Algeria has appointed Redouane Djazairi as a plant manager. He has worked for the subsidiary of Holcim for nearly 20 years in a variety of quality control and performance roles. Most recently he held the position of Production Manager. The cement producer operates two integrated plants in the country, at M'Sila and Oggaz respectively.


India: Star Cement has appointed Arindam Acharya as its technical head based at Guwahati in Assam. He was worked in the cement sector for over 15 years, mostly recently holding the post of Assistant General Manager at Dalmia Cement (Bharat). Prior to this he has worked for The Ramco Cements, Ambuja Cements and UltraTech Cement. Achary holds qualification from Shivaji University and the Indian Institute of Management in Kolkata.


India: Sika India has appointed Parag Solanki as its Director of Technology. He previously worked as Vice President- R&D at ACC. Before this, Solanki held a variety of research and development roles at Sika. He also worked for UltraTech Cement and Shree Cement. Solanki holds a PhD from Jai Narain Vyas University in Jodhpur as well as a further qualification from the Indian Institute of Management in Kolkata.


Colombia: Cementos Argos has introduced a share price recovery programme at the same time it has released its financial results for 2022. It plans to spend around US$50m on a share buy-back program. Its sales revenue rose by 24% year-on-year to US$2.37bn from US$1.92bn. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) grew by 7% to US$422m from US$396m. However, its net income dropped by 14% to US$81.7m from US$95.5m due to mounting financial expenses. Its cement sales volumes fell by 3.7% to 16.2Mt in 2022 from 16.8Mt in 2021.

The group blamed the decline in cement sales volumes on problems in the Haitian market as well as lower trading volumes to the Caribbean and Central America region. Sales volumes of cement and revenue grew in the US but earnings fell. In Colombia, local cement sales volumes fell but were boosted overall by exports.


Germany: Austria-based Rohrdorfer has started up an amine-based carbon capture system at its Rohrdorf cement plant in Bavaria. The producer plans to ultimately expand the system up to a capture capacity of 1500t/day. The inauguration follows a successful continuous trial of the technology since August 2022, excluding a regular kiln maintenance period over winter. Austria-based Andritz designed the system specifically for the Rohrdorf cement plant. It yields CO2 that is suitable for numerous applications, including in food and beverages and in intermediate products in pharmaceuticals production. The Rohrdorf cement plant also hosts a formic acid plant which uses captured CO2.

Rohrdorfer aims to achieve carbon-neutral cement production by 2038. Alongside production-related optimisations, the producer plans to realise its aim through a future expansion to the Rohrdorfer plant’s carbon capture system and the implementation of a further carbon capture upgrade at a second cement plant in Austria.


Chile: Melón’s sales rose by 2% year-on-year to US$305m in 2022. The producer recorded a 17% drop in its cement production to 1.13Mt. Operating costs rose by 11%, with rises across raw materials, transport and utilities costs. As such, the producer reported a net loss of US$12m, compared to a net profit of US$15.3m in 2021.

Melón noted a ‘very challenging market’ with ‘active competition’ so far in 2023, including a low capacity utilisation situation in the domestic cement industry.


Thailand: Switzerland-based Maerz has commissioned a new 150t/day lime kiln at Bangkok CaO’s plant at Saraburi. The kiln is the third Parallel Flow Regenerative (PFR) unit that Maerz has supplied to the site following previous installations in 1996 and 2008. All the kilns at the plant use waste oil as a fuel.


Russia: Eurocement has changed its name to Cemros. The rebranding exercise followed an internal staff competition to come up with a new name followed by a vote from a shortlist. The new name is intended to invoke the words ‘cement’ and ‘Russia.’ It was suggested by Evgeny Lukanovsky, Alexey Lotarev and Igor Efimov.

Eurocement was acquired by Smikom in 2021 for around US$2.2bn following an auction held by Sberbank.


US: Leilac has signed a memorandum of understanding (MOU) with US-based Heirloom to use Leilac’s kiln technology in Heirloom’s direct air capture (DAC) process. The MOU outlines the key terms for a licence and collaboration agreement.

Daniel Rennie, the chief executive officer of Leilac, said “Leilac is delighted to be partnering with Heirloom. Our partnership will apply Leilac’s core technology for cement and lime decarbonisation to address the global challenge of excess atmospheric CO2.” He added “Heirloom uses low-cost and abundant limestone, which Leilac’s technology is specifically designed for. Both technologies are modular, easily scalable and can be renewably powered.”

Heirloom is developing a method of using limestone to remove atmospheric CO2 in a DAC process. The proposed DAC method using both Leilac and Heirloom technology will heat limestone in a Leilac kiln to release CO2 that can then be captured and sequestered. The lime that the kiln produces will then be reformed back into limestone directly capturing CO2 from the atmosphere in an accelerated process. This limestone will then be feed back into the kiln restarting the process. The partners also suggest powering the kiln from renewable electricity sources to further increase the net reduction of CO2 emissions from the process. No cost for the combined process or who would pay for it has been revealed so far.

Leilac is a subsidiary of Australia-based Calix that has been testing its indirectly heated calcination technology with the cement and lime industry since the mid-2010s. An industrial scale application of the process at Heidelberg Material’s Hanover cement plant in Germany is expected to be ready to start testing by the end of 2023. Additional projects have been announced in Australia with Adbri and Boral.


US: Holcim subsidiary Geocycle has signed a multi-year contract with Louisville Gas and Electric and Kentucky Utilities to market fly ash produced by the power generation companies. Geocycle and Holcim will use to up to around 225,000t/yr of fly ash to produce blended cement products.

Sophie Wu, Head of Geocycle North America, said “In line with Geocycle’s commitment and passion for recycling and achieving a net zero future, we are honoured to partner with Louisville Gas and Electric and Kentucky Utilities to develop creative and efficient solutions that contribute to the circular economy.” She added, “Together we’ll be able develop blended cementitious materials, reduce CO2 levels and further encourage carbon neutral construction.”


US: Kosmos Cement has ordered a mobile ship unloader from Sweden-based Bruks Siwertell for use at its terminal in Pittsburgh in Pennsylvania. The product is designed to discharge vessels up to 5000dwt and has a continuous rated cement handling capacity of 300t/hr. Delivery is planned for the spring of 2023.


Australia: Italy-based Bedeschi has started a new subsidiary in Australia. Bedeschi Australia’s head office is based in Perth with satellite offices in Port Hedland and Brisbane. The company is intended to target the mining, port and agricultural sectors. Uwe Zulehner has been appointed as the chief executive officer of Bedeschi Australia.


US: Prometheus Materials’ microalgae-based biocement has secured certification for use in concrete masonry unit (CMU) mixes. The cement now holds an ASTM C129 certificate for use in non-loadbearing CMUs and an ASTM C90 certificate for use in loadbearing CMUs. Prometheus Materials’ biocement produces concrete with comparable or superior mechanical, physical and thermal properties to ordinary Portland cement (OPC)-based concrete. It offers little-to-no CO2 emissions and 95% of water used in production is recycled.

Prometheus Materials CEO Loren Burnett said “We are thrilled to have achieved these two foundational certifications as we proceed in full force with our goal of decarbonising construction. Prometheus Materials’ product is poised to change the future of construction, converting one of the most carbon-polluting industries to a low-carbon – and one day net-zero carbon – reality.”


India: Indian Railways has shared plans to establish dedicated rail corridors to supply raw materials to the cement sector. The Times of India newspaper has reported that the corridors will connect plants to sources of clinker, fly ash and limestone. Indian Railways says that the plans encompass ‘different parts of the country,’ and will be implemented over the 10-year period up to the end of the 2033 financial year. In addition to offering ‘better service’ and ‘attractive’ prices, the rail company will also carry out capital expenditure investments in order to maximise the volume of materials travelling on its cement corridors.


Pakistan: Kohat Cement has informed the Pakistan Stock Exchange that is has bought back 2.5% of its shares. The value of the transaction was US$191,000.


India: The state government of Himachal Pradesh has announced the forthcoming reopening of Adani Group's Darlaghat and Gagal cement plants. Reuters has reported that truck drivers' unions agreed to a reduced freight rate offered by Adani Group. The producer shut the plants on 15 December 2022, claiming that it faced prohibitively high operating costs, including high freight charges.

Truck drivers will now receive rates of US$0.12/t/km for despatches in small delivery trucks and US$0.11/t/km for dispatches in articulated trucks. Drivers operating at the Darlaghat cement plant previously earned fees of US$0.13/t/km, while those operating at the Gagal cement plant had earned fees of US$0.14/t/km. Adani Group had reportedly sort to lower rates to US$0.07/t/km. Unions have criticised the newly negotiated rates, pointing out the UltraTech Cement recently raised the wages of drivers at its Baga cement plant in the state to US$0.13/t/km.


Pakistan: Bestway Cement has announced the successful commissioning of its Hattar cement plant's new 2.63Mt/yr Line 2. The line increases Bestway Cement's installed capacity by 21% to 15Mt/yr. It is equipped with a 9MW waste heat recovery (WHR) plant. The Nation newspaper has reported that the producer completed the project in under 15 months.

Hattar cement plant was Bestway Cement's original cement plant. It opened in 1998, with a capacity of 1Mt/yr.


South Korea: SungShin Cement recorded full-year consolidated sales of US$792m in 2022, up by 24% year-on-year from US$641m in 2021. The producer recorded a net loss of US$19.5m, compared to US$5.01m net profit in 2021.


Uzbekistan: The government has ordered a partial transition of industries, including cement, to coal fuel from natural gas. The Turan Information Agency has reported that the ordinance, entitled Accelerating the Introduction of Renewable Energy Sources and Energy-Saving Technologies, will create an additional coal demand of 1.63Mt/yr and reduce national gas consumption by 926Mm2/yr. From 1 April 2023, the government will halve tariffs on coal imports, while the construction of new gas pipes to industrial facilities will be banned from 1 May 2023.


France: Hoffmann Green Cement Technologies has won a contract to supply property developer Belin Promotion with its clinker-free cement for use in its residential property development projects up until March 2026. Dow Jones Institutional News has reported that the deal includes minimum volume commitments.


India: Sagar Cements says that it will pay US$111m to acquire Andhra Cements outright. The Hindu BusinessLine News has reported that the deal will more than double the producer's capacity to 8.25Mt/yr. By 2025, Sagar Cements expects to increase the newly acquired subsidiary's clinker capacity by 1.2Mt/yr, and its grinding capacity by 600,000t/yr. The group plans to invest US$56.8m in capital expenditure before 2025 in order to realise its plans.


India: Dalmia Cement (Bharat) has successfully launched its new fleet of 35 liquefied natural gas (LNG)-fuelled trucks from its Murli cement plant in Maharashtra. The trucks are of two types, covering ranges of 50 - 600km, and will transport bagged cement and bulk raw materials. They have 28% lower CO2 emissions than conventional diesel-powered trucks, and are thus able to eliminate 840t/yr of CO2 emissions, while also reducing emissions of nitrous oxides (NOx) by 59% and particulates by 91%, and eliminating emissions of sulphur oxides (SOx).

Dalmia Cement (Bharat) says that its next move will be to launch a second fleet of 25 trucks from its Ariyalapur cement plant in Tamil Nadu. By April 2024, it plans to convert 10% of its 3000 truck-strong fleet to LNG fuel.

A spokesperson for the company said “Dalmia Cement has been following the business philosophy of Clean & Green is Profitable and Sustainable. Our overall CO2 emissions have come down from 670kg/t to 467kg/t – one of the lowest globally – and we are focusing on realising our carbon negative goal by 2040. We are delighted to partner with GreenLine Logistics for further reduction of our Scope 3 greenhouse gas emissions.”


Taiwan: The Taiwanese Fair Trade Commission (FTC) has fined 18 companies a total of US$7m for participation in a ready-mix concrete price-fixing cartel. The companies, including Taiwan Cement, all participate in the ready-mix concrete industry in Taoyuan Special Municipality. The FTC said that the companies have colluded both in person and via messaging apps in order to raise the price of concrete in Taoyuan, since 'as early as November 2018.' Other recipients of fines include Goldsun Building Materials, Ya Tung Ready Mixed Concrete and 15 companies based in Taoyuan. Fines range from US$16.5m up to US$329m for larger participants.

CNA News has reported that Taiwan Cement denies involvement in any cartel.


South/Central America: Holcim Latinoamérica says that it expects to use 18% renewable power across its operations in February 2023, compared to 8% throughout 2022. The regional unit of Holcim says that it will increase its share of renewable power to 25% by the end of 2023. It is committed to a target of 60% renewables by 2030. Holcim Latinoamérica's operations span Argentina, Colombia, Costa Rica, Ecuador, El Salvador, Nicaragua and Mexico.

Earlier in February 2023, Holcim Nicaragua commenced construction of a 3.38MW solar power plant in Nagarote, León Department. The producer said that the solar power plant's contribution to the national grid will cover 40% of its consumption in its cement operations there.

Holcim's Latin America regional head Oliver Osswald said “Our world is in constant change from population growth, urbanisation and the climate challenge. That is why, at Holcim, we are determined to put our best foot forward to accelerate low carbon circular construction."


Germany: ScrapeTec will present its latest generation DustScrape dust management system at the SOLIDS Dortmund bulk handling technologies exhibition in Dortmund, North Rhine-Westphalia. ScrapeTec says that the new model boasts increased box robustness and is specifically designed for use in closed transfers with high material pressure. It works without the use of energy and also saves energy by enabling users to switch off existing dust extraction systems.


Switzerland: CDP, a non-profit organisation that helps industrial players improve their environmental performance, has recognised Holcim's sustainability achievements with an award for a double ‘A’ ranking in climate and water management. The double ‘A’ award, a first for any cement producer, was handed over at the 2023 CDP Europe Awards in Paris, France, on 16 February 2023.

Magali Anderson, Holcim’s Chief Sustainability and Innovation Officer, said "This award is a testament to the progress that our teams around the world are making to build a net-zero future, while protecting and restoring precious freshwater resources. 2022 marks the third consecutive year that our climate actions have put us on CDP's A List, and our first ‘A’ ranking for our work on water security. I am confident we will keep the momentum going in years to come."


Malaysia: UEM Group, an infrastructure and services conglomerate, is reported to be working with financial advisers on the potential sale of Cement Industries of Malaysia (CIMA), its Malaysia based producer and distributor of cement and ready-mixed concrete. UEM is seeking a valuation of about US$230m for CIMA, which has a cement capacity of 1.3Mt/yr. Persons close to the company indicated that other producers in the Malaysian cement market had shown interest in purchasing CIMA, although a representative for UEM Group declined to comment.


US: The US Department of Energy (DOE) has awarded US$3.2m to Solar MEAD, a project that aims to replace fossil fuels with concentrated solar thermal (CST) energy in clinker production. Solar MEAD is jointly led by Cemex, Swiss solar fuels innovator Synhelion and Sandia National Laboratories, a research and development laboratory run by the DOE.

Synhelion’s CST technology generates hot gas at 1500°C, high enough to produce clinker without any thermal fuels. Cemex and Synhelion produced a batch of clinker with CST in a research setting in Spain in 2022. In the Solar MEAD project, Sandia National Laboratories will contribute its research facilities in New Mexico and subject expertise to help accelerate the adaptation of the technology for use in cement manufacturing. The projects aims are to increase the efficiency of CST technology by improving heat transfer from the hot gas to the cement raw mix and further reduce the CO2 emissions of the process.


Algeria: The GICA group exported a total of 3Mt of cement in 2022 for a total income of US$106m. Destinations included countries in West Africa, Latin America and Europe. The group is working, through its various subsidiaries, to increase its cement exports as part of the government's strategy aimed at diversifying non-hydrocarbon exports.

As part of this, its SCIMAT subsidiary recently obtained ISO 45001 and ISO 50001 certificates relating to health and safety and energy management standards to help it increase exports to the EU and US.


Spain: Brazilian cement producer Votorantim Cimentos has reached an agreement with Spanish renewable energy Acciona Energia to purchase a further 19% of the electricity it will need for its cement production activities in Spain until 2033. Alongside a previous contract for 6% of its electricity needs, from 2024 to 2033, this brings the proportion of renewable energy supplied by Acciona Energia to 25% of Votorantim Cimentos’ needs from the start of 2024.


Greece/Italy: The Hercules international research project, which has 27 partners from 10 countries, has been launched officially at Milan Polytechnic, Italy. Hercules, an acronym for ‘Heroes in Southern Europe to decarbonise industry with CCUS’ will test new solutions in the CO2 capture, transport, use and storage value chain and transform them into a scalable industrial process. Buzzi Unicem and Titan Group are two of the 27 partners, alongside waste-to-energy players and developers of advanced CO2 capture equipment. This includes ‘calcium looping’ technology from Finnish Sumitomo SHI FW and cryogenic purification technology from TPI in Italy.

A part of the pure CO2 flow will be destined for use in production processes. These include the production of new cementitious materials that could replace conventional concrete, as well as uses in the technical gas sector. Hercules will also investigate the transport of CO2 from the industrial capture sites to geological storage sites at Ravenna (Eni) and Prinos (Energean). The gas will be handled by Air Liquide and Titan Cement.


Germany: Holcim has signed an agreement to acquire FDT Flachdach Technologie (FDT), a leading manufacturer of thermoplastic roofs. FDT has a presence in European markets, with net sales of Euro50m in 2022. Holcim says that, as a technology and sustainability leader in its sector, FDT will complement Holcim’s integrated roofing product range and strengthen the geographical footprint of the business.

With this acquisition, Holcim roofing systems will exceed US$4bn in net sales ahead of schedule. Chief executive officer Jan Jenisch said “By acquiring FDT we are further expanding our Solutions & Products business to become a global leader in roofing systems. Due to its leadership in technology and sustainability, as well as its strong customer relationships, FDT will be a cornerstone of our continued expansion into the most attractive European roofing markets. I am excited to further grow and strengthen FDT’s business and welcome all 180 employees to the Holcim family.”


India: The Competition Commission of India (CCI) has approved a US$684m deal related to Dalmia Cement’s acquisition of cement, clinker and power plants of Jaiprakash Associates Limited (JAL).

Dalmia Cement says that the acquisition - which includes 9.4Mt/yr of cement capacity, 6.7Mt/yr of clinker capacity and 280MW of power generation capacity - will allow it to expand its footprint into the central region and transform into a pan-Indian company. More than half of JAL’s cement capacity is in central India. Dalmia Cement anticipates reaching a cement production capacity of 75Mt/yr by the 2027 fiscal year and, due to other expansion plans, 110 - 130Mt/yr by the 2031 fiscal year.

This latest transaction, once approved by the relevant regulators, will see the complete exit of JAL from the cement business.


India: Ambuja Cements, a subsidiary of Adani Group, has been declared as the 'preferred bidder' for the Uskalvagu limestone block in Odisha. An e-auction was conducted by the state government for the block, situated in Malkangiri district. Adani Group has not disclosed the amount that it bid for the block, but said it covers 547 hectares with estimated limestone resources of about 141Mt.

The company must now obtain the statutory licences and permits related to mining operations to be declared a ‘successful bidder’ and subsequently enter into a ‘Mine Development and Production Agreement (MDPA)’ with Government of Odisha.


US: Martin Marietta Materials posted lower revenue in the fourth quarter of 2022 as a slowdown in the housing market and bad weather in Texas reduced shipments of materials, especially concrete. While the company reported a net income for the fourth quarter of US$184m, a 17% rise year-on-year compared with US$157m in the fourth quarter of 2021, its revenue fell to US$1.48bn from US$1.50bn. This was partly due to a 1.7% fall in building material revenues. Cement shipments fell by 11%, mostly due to wet and cold weather in Texas, though prices rose by 21%. Ready-mixed concrete revenue fell by 35% due to the sale of the company's Colorado and Central Texas ready-mixed concrete business.


Puerto Rico: Cement sales were 46,750t in January 2023, a 3.8% rise year-on-year compared to January 2022. Cement production in the territory came to 31,930t in January 2023, a 58% rise. This means that imports fell to 14,820t, 32% of all cement consumed. In January 2022 there were 24,842t of imports, representing 55% of all cement consumed in Puerto Rico.


Nigeria: Ifeanyi Chukwuma Odii, the People’s Democratic Party’s (PDP) candidate for governor of Ebonyi State, has pledged to revive the Nigeria Cement Factory at Nkalagu if elected in the forthcoming election. Odii said the successive administrations promised to revive the factory but failed to do so. Elections will be held on 11 March 2023.

Odii said, “As a governor, I will make sure the cement factory works, because many have promised to revamp the Nkalagu cement factory, but they failed. They failed because they lack the capacity. They failed because they are not entrepreneurs. I’m going to turn things around in Ebonyi state.”


Kenya: Five cement producers are opposing an increase in import taxes on clinker that has been championed by National Cement owner Narendra Raval Guru. They claim that he has ‘been given the ear’ of the country’s current administration and is using his position as a domestic clinker manufacturer to disadvantage cement companies that grind imported clinker. The company is reportedly seeking an increase on the duty from 10% to 25%.

The five cement companies - Rai Cement, Bamburi Cement, Savannah Cement, Ndovu Cement and Riftcot – argue that this would create an unfair playing field in the local cement sector. The say that two manufacturers, National Cement and Mombasa Cement, would dominate due to their clinker manufacturing plants. Mombasa Cement has not stated a position in the dispute.


Saudi Arabia: Yamama Cement Company recorded net profits after Zakat and tax worth US$68.2m in 2022, a year-on-year increase of 132% from US$41m in 2021. Its revenues for 2022 amounted to US$272m in 2022, up by 39% from US$196m in 2021.