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Indian cement capacity to rise by 6% in 2024 financial year

04 July 2023

India: ICRA says that all-Indian cement production capacity will rise by 6% year-on-year to 610Mt/yr during the 2024 financial year. The ratings agency forecasts that the Indian cement industry will invest US$14.6bn over the four years up to the end of the 2027 financial year to expand its capacity by 26% to 725Mt/yr. The Financial Express newspaper has reported that costs of cement production fell in the second half of the 2023 financial year, which ended on 31 March 2023. The trend is expected to continue throughout the 2024 financial year. Meanwhile, ICRA has forecast domestic demand growth of 7 - 8% year-on-year in the 2024 financial year.

Published in Global Cement News
Tagged under
  • ICRA
  • India
  • Capacity
  • demand
  • market
  • Consumption
  • growth
  • Outlook
  • Forecast
  • GCW615

Cemex USA commissions new cement unloader at Port of Palm Beach

04 July 2023

US: Cemex USA has commissioned a new 225t cement unloader for handling dry bulk materials from ships at the Port of Palm Beach in Florida. The port says that the producer invested US$7m in the equipment. It is decorated with a mural of a manatee cow and calf, dedicated to local conservation charity Friends of Manatee Lagoon.

Images here.

Published in Global Cement News
Tagged under
  • US
  • Cemex USA
  • Cemex
  • unloader
  • unloading
  • Port
  • bulk handling
  • Florida
  • charity
  • GCW615

Huaxin Cement to acquire further 5.1% stake in Oman Cement

03 July 2023

Oman: Huaxin Cement informed the Muscat Stock Exchange of its intent to buy a further 5.1% stake in Oman Cement on 3 July 2023. Zawya News has reported that this would increase the China-based group's stake in Oman Cement to 64.7%. It acquired its existing 59.6% in the producer for US$193m earlier in 2023, but subsequently revised the price to US$200m.

Published in Global Cement News
Tagged under
  • Oman
  • Huaxin Cement
  • Oman Cement
  • Acquisition
  • Stake
  • Shares
  • Investment
  • growth
  • GCW615

UltraTech Cement increases sales in first quarter of 2024 financial year

03 July 2023

India: UltraTech Cement increased its cement sales volumes by 20% to 30Mt in the first quarter of the 2024 financial year. Press Trust of India News has reported that the producer sold 950,000t of cement outside of India, up by 13% from 840,000t a year earlier.

During the year, UltraTech Cement recorded a capacity utilisation rate of 90% across its 136Mt/yr capacity.

Published in Global Cement News
Tagged under
  • India
  • UltraTech Cement
  • Aditya Birla
  • volumes
  • data
  • Capacity utilisation
  • GCW615

Holcim Philippines to supply cement for Sungshin Cement's ready-mix batching plants

03 July 2023

Philippines: Holcim Philippines and Sungshin Cement have signed a memorandum of understanding whereby Holcim Philippines will be priority supplier of cement for use in Sungshin Cement's ready-mix concrete operations in the Philippines, InPR News has reported. South Korea-based Sungshin is anticipating growing demand from infrastructure projects, partly due to a US$3bn development loan agreement between the government of the Philippines and South Korea.

Published in Global Cement News
Tagged under
  • Holcim
  • Sungshin Cement
  • Holcim Philippines
  • Government
  • supply contract
  • readymixed concrete
  • Philippines
  • market
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