Global Cement News

India: Adani Group repaid loans worth a total of US$2.65bn on 6 June 2023, with a total interest payment of US$700m. Accord Fintech News has reported that the sum includes prepayment of loans worth US$700m used to acquire Holcim India, alongside other loans. This completes the group's prepayment of loans taken for the acquisition, which it completed in September 2022.

India: JK Organisation and Nirma Group have submitted non-binding offers to acquire 40 - 72% stakes in Sanghi Cement. The Economic Times newspaper has reported that promoters value the company at US$726m.

Shree Cement also previously entered non-binding talks to acquire Sanghi Cement on 29 April 2023.

Oman: Abra Holdings has submitted an offer to acquire a 15% stake in Oman Cement. Reuters has reported that the board of Oman Cement confirmed that it is not seeking competing offers.

India: Shree Cement has won an auction for the Chandrapur limestone mine in Maharashtra. The mine has reserves of 50Mt of limestone, and is equipped to meet the raw materials consumption of a 1.5Mt/yr integrated cement plant. The mine occupies a 105 hectare site close to the Chandrapur and Warora railheads, 200km from Nagpur. Shree Cement will reportedly consider building new sidings to connect the quarry to the national rail network.

The Economic Times newspaper has reported that Shree Cement bid to pay taxes of 27% of the value of limestone extracted from the quarry, in addition to mining royalties. The local price of cement-grade limestone was US$5.76/t in May 2023.

Egypt: Heidelberg Materials subsidiary Suez Cement has invested US$16m in upgrading its operations towards increased alternative fuel (AF) use since 2010. The producer uses AF in the burners and kilns of all three of its cement plants, at Helwan, Kattameya and Suez. Meanwhile, Suez Cement has invested US$60m in dust control measures over the same period. Other on-going investments include US$25m in the construction of a waste heat recovery (WHR) plant at the Helwan cement plant. The company is committed to reaching a 24% reduction in its CO₂ emissions between 2019 and 2030.

Technical director Omar Khorshid said “We are committed to pursue initiatives to broaden our range of innovative and eco-friendly building solutions, advance operational efficiency through digitalisation and strengthen customer engagement for better business results and more positive impact."