Global Cement News

Greece: Titan Cement Group has successfully started a pilot CO₂ capture demonstration project at its Kamari plant. As part of the RECODE2020 project it said it had reached a CO₂ purity above 99% during initial operation by using ionic liquids as the CO₂ adsorbents. The captured CO₂ is then intended to be utilised by converting it to nanocalcite and additives that can reused in cement production in different ways. The cement producer is also running the CARMOF project at the plant.

Nigeria: Dangote Cement increased its sales by 17% year-on-year to US$1.9bn in the first half of 2022 from US$1.63bn in the first half of 2021. The group increased its cement sales volumes by 26% to 15.Mt, including a 33% increase in Nigeria to 9.9Mt there. Its production costs rose by 17% to US$760m from US$651m. This resulted in a 10% profit drop to US$406m from US$452m.

Chief executive officer Michel Puchercos noted a ‘very volatile’ global environment and increased energy costs. He said “Our business model remains robust, thanks to the prudent and flexible approach we have taken across our operations. Our continuous focus on efficiency, meeting market demand and maintaining our costs leadership drives our ability to consistently deliver superior profitability and value to all shareholders.”

Nigeria: BUA Cement recorded US$444m in sales revenues in the first half of 2022, up by 52% year-on-year from first-half 2021 levels. The producer’s profit after tax was US$145m, up by 41% year-on-year.

India: Ramco Cements reported consolidated sales of US$225m in the first quarter of its 2023 financial year, up by 44% year-on-year. The producer recorded ‘weak’ cement prices in the quarter, during which time fuel costs rose ‘sharply.’ Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 17% to US$39.2m, while its net profit fell by 34% to US$14.4m.

Ramco Cements’ capital expenditure during the quarter totalled US$61.3m.

India: Adani Group has secured US$5.25bn-worth of bank loans from Barclays, BNP Paribas and Citigroup for its acquisition of Holcim’s Indian cement businesses ACC and Ambuja Cements. The Business Standard newspaper has reported that the group plans to expand its cement capacity by 43% to 100Mt/yr from 70Mt/yr.