Indonesia: LafargeHolcim has closed the divestment of its Holcim Indonesia. It has sold its 80.6% share of the subsidiary to Semen Indonesia for US$1.75bn. The deal was first announced in November 2018. The company said that the proceeds from the sale would ‘significantly’ improve its net debt to recurring earnings before interest, taxation, depreciation and amortisation (EBITDA) ratio by 0.2 with the target of two times or less to be achieved by the end of 2019. LafargeHolcim has been targeting divestments as part of its Strategy 2022 initiative.

Ivory Coast: A new cement plant is being planned for construction near Gagnoa. Mayor Issouf Diabaté made the announcement to the city council, according to the Agence Ivoirienne de Presse. Sales tests on cement from the company building the plant are being conducted in the local market. The preferred location for the plant is in Galbré sub-prefecture between Soubré and Gagnoa.

Kuwait: ACICO Cement has ordered a second cement grinding mill from Spain’s Cemengal. The main equipment to be included in the contract includes a 5200 Kws ball mill with all the peripheral equipment from Cemengal and a fourth generation classifier from Magotteaux XP4i-130 for high strength cements. The projected grinding capacity will be 1Mt/yr of cement and the plant will be commissioned within the first half of 2020.

The project scope will include full engineering and complete supply of mechanical, process, electrical and automation equipment as well as the steel manufacturing from the raw materials handling areas up to the cement silos discharge. Site supervision, training and& commissioning will also be provided by Cemengal.

Pakistan: Lucky Cement’s earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 16.5% year-on-year to US$51.3m in the six months to 31 December 2018 from US$63.7m in the same period in 2017. The cement producer said that its cost of sales rose by 14.2% due to mounting packaging, coal and other fuel prices. Its revenue grew by 6.2% to US$250m from US$235m. It attributed this to higher export volumes of cement and clinker. Its local sales of cement and clinker fell by 8.4% to 2.99Mt from 3.27Mt. Exports more than doubled to 1.02Mt from 0.5Mt. Accordingly, overall sales volumes increased by 6.8% to 4.01Mt from 3.76Mt.

The company reported that levelling work at its Samawah 1.2Mt/yr integrated cement plant project in Iraq started in January 2019. Civil work is scheduled to start in March 2019 and commercial production at the unit planned to start in mid-2020.