Global Cement News

Bangladesh: Confidence Cement’s power supply subsidiary Confidence Power Bogra has entered operation at its new 113MW heavy fuel oil (HFO)-fired power plant at Birgram. The Financial Express has reported that it utilises Germany-based MAN’s generators and a substation manufactured by China’s XD. The Indian boilermaker ME provided the boiler. The power station will supply Confidence Cement’s operations via repurchase from the Bangladesh Power Development Board.

Kenya: Mombasa Cement has completed construction of a 36MW wind farm consisting of 12 3MW turbines in Vipingo. Bahrain News Agency has reported that the plant will power Mombasa Cement’s 1.6Mt/yr integrated Vipingo cement plant, with surplus to be sold to the state-owned power provider Kenya Power. The power plant will supply electricity for the completion of Mombasa Cement’s planned US$73m upgrade to its grey cement clinker production process at the Vipingo plant.

Egypt: Greek-owned Titan Cement has made a major acquisition in buying the International Finance Corporation (IFC)’s 17.3% stake in Alexandria Development Ltd. Alexandria Development Ltd is 82.7% indirectly held by Titan Cement. It is the 88.9% owner of Alexandria Portland Cement, according to Mubasher. Alexandria Portland Cement made losses of US$4.56m in the nine months to 30 September 2019.

Nigeria: Dangote Cement’s non-executive director Fideli Madavo has resigned from his position on the company’s board. Madavo represented the stakeholder Public Investment Corporation (PIC), South Africa’s state pension fund, where he is head of resources and portfolio manager for strategic and African listed investments. The company has not stated a reason for the change.

India: The Union Council of India has approved a US$1.4bn distress fund to help developers finish partially completed residential developments. Business Today has suggested that the financing, which prioritises affordable and middle-income housing projects, will bolster demand for cement producers. The launch of the scheme follows India’s decision not to join the Regional Comprehensive Economic Partnership on 4 November 2019, for which it stated reasons of a trade deficit with 11 of the 15 other signatories and the rejection of its proposed three-tier structure for phasing out tariffs.