Global Cement News

India: JSW Cement has dedicated a new temple at its Ankur commune in Salboni, West Bengal, to the goddess Maa Kali. The Orissa Diary newspaper has reported that architecture firm Dulal Mukherjee and Associates designed the temple in the 17th century Bishnupur style. The place of worship is made of locally sourced terracotta.

JSW Cement spokesperson Anushree Jindal said "JSW Cement believes in collaborating with local communities to empower them for a better future. I feel blessed and privileged to have facilitated the creation of a pious, safe haven of worship for the local community in Salboni."

China: Fitch Ratings expects West China Cement to record a first-half sales decline of 10% in 2022, due to ‘sluggish’ residential construction, on-going Covid-19 restrictions and high coal costs due to the Russian invasion of Ukraine. The rating agency predicted a ‘mid-single digit’ full-year sales decline in 2022, with a gross profit margin for the group of 28%, compared to 30% in 2021. This probability results from higher costs arising from overseas investments during the year.

Kazakhstan: Steppe Cement has received notification from Consilium Investment Management that funds under its management have ‘collectively ceased as a significant shareholder’ in the producer.

Consilium Investment Management previously represented a 5% stake in Steppe Cement’s shareholding.

Switzerland: Indonesian citizens of Pulau Pari have launched a legal case against Holcim in Switzerland for its contribution to climate change. Holcim operated in Indonesia from 1971 through its subsidiary Holcim Indonesia, which Semen Indonesia acquired from the group in 2019. Pulau Pari faces increased climate change-induced flooding, including two floods in 2020. Four residents have launched the present case against Holcim for damages, funding for flood defences and positive measures towards further group CO₂ emissions reduction. Indonesia-based environmental organisation Walhi, Swiss Church Aid (HEKS) and the European Center for Constitutional and Human Rights (ECCHR) are supporting the case.

Trinidad & Tobago: Workers at Trinidad Cement’s Claxton Bay cement plant have launched a protest at the plant against an alleged breach of employment contracts. Troubled Company Reporter Latin America News has reported that Trinidad Cement has allegedly underpaid employees for more than seven years, with no cost of living allowance or gain share payments, and resulting pension miscalculations, according to a union representing the workers.