Global Cement News

Zimbabwe: Bulawayo deputy mayor Edwin Ndlovu and Finance and Development Committee chairperson Councillor Mpumelelo Moyo have been arrested by the Zimbabwe Anti-Corruption Commission (ZACC) for allegedly demanding a US$20,000 bribe from Labenmon Investments. The officials are accused of soliciting the bribe from the China-based investors in exchange for approving 5.6 hectares of land for a cement plant. The initial application for 10 hectares was denied by the Bulawayo City Council. The two were scheduled to appear in court on 16 November 2024.

A statement from the ZACC said "The circumstances are that sometime in November 2023, Tsitsi Mapfumo from Labenmon Investments made an application, without success, for 10 hectares of land to the Bulawayo City Council for a cement mixing plant. Labenmon Investments resubmitted the application in April 2024 and was offered 5.6 hectares. After Labenmon Investments received an offer letter, the accused persons allegedly approached Mapfumo demanding a reward of US$20,000 cash on behalf of other 20 Bulawayo City Council councillors for facilitating the approval.”

Colombia: Grupo Argos grew its sales by 8% year-on-year to US$739m in the third quarter of 2024. It also grew its earnings before interest, taxation, depreciation and amortisation (EBITDA), by 34%, to US$254m. As a result, net profit rose by 75%, to US$74.1m.

Pakistan: Cherat Cement CEO Azam Farooq and fellow executives met Khyber Pakhtunkhwa Governor Faisal Karim Kundi on 15 November 2024 to discuss the potential establishment of a new cement plant in Dera Ismail Khan. The Balochistan Times newspaper has reported that the Governor ‘assured full support’ for the proposed project.

India: Grasim Industries reported 11% year-on-year growth in sales to US$3.98bn in the second quarter of the 2025 financial year. Earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 10% year-on-year to US$479m, partly due to reduced profitability in the cement business. Group net profit dropped by 66% to US$46.2m.

Azerbaijan: The Global Cement and Concrete Association (GCCA) has called on governments at the COP29 climate conference to support the decarbonisation of the cement industry. The association published its Net Zero Progress Report 2024/25 to coincide with the conference. The report details the ‘extensive decarbonisation work’ currently underway in the industry, including accelerating carbon capture, utilisation and storage (CCUS), switching to renewable energy sources, advancing the circular economy and reducing cement’s clinker factor. The sector expects to commission its first net zero cement plant, following a carbon capture upgrade to Heidelberg Materials’ Brevik plant in Norway, later in 2024.

GCCA president Fernando González said “Our industry is engaged in the most significant transformation in its history. To fully unlock our decarbonisation progress in this crucial Decade to Deliver, we urgently need effective policy support."