Myanmar: Three local activists have been arrested for protesting against a new cement plant being built at Patheingyi Township in Mandalay Region. In late July 2018 local residents marched on environmental grounds from Mandalay to Nay Pyi Taw in protest against the construction of a 5000t/yr coal-fired cement plant in Dahattaw Village-tract, Patheingyi Township, according to the Asia News Network. However, police intervened and started legal action against some of the protestors.
Lucky Cement’s profit down as costs mount
Pakistan: Lucky Cement’s profit has fallen as its cost of sales including coal, other fuels and packing materials have risen. Its standalone profit after tax fell by 10.9% year-on-year to US$98.3m in the financial year that ended on 30 June 2018 from US$110m in the same period in 2017. Its gross sales rose by 9.4% to US$543m from US$497m. Cement and clinker sales volumes rose by 9.3% to 7.82Mt from 7.15Mt with increases in both local and export sales.
Cement production overcapacity hits ThyssenKrupp’s earnings forecast
Germany: ThyssenKrupp has decreased its earnings forecast for its 2017 – 2018 financial year due to the poor performance of its Industrial Solutions division. The division is expected to report a negative adjusted earnings before interest and taxation (EBIT) of Euro200m in the third quarter of the year due to higher expected total costs, particularly for a cement plant in Saudi Arabia and two other industrial projects. The group said that the number of major projects in the cement and fertiliser sector had decreased ‘considerably,’ partly due to the production overcapacity in the cement market.
"It is important to me to call it what it is. The results of our analysis at Industrial Solutions are anything but satisfying. The structure of plant construction must be adjusted to the changed market conditions in order to achieve a turnaround and finally become competitive again. We must act swiftly here," said Guido Kerkhoff, chairman of the executive board of ThyssenKupp. The group has proposed focusing its Industrial Solutions division on small and medium-sized projects and targeting plant construction on the higher-margin service business.
In mid-2017 the group announced plans to reorganised its Industrial Solutions division, including the decision to cut 1500 jobs in operational areas.
Chamba cement plant project on course to start work in autumn 2018
India: The Industries Department of Himachal Pradesh is preparing to allow construction work to start at a new cement plant at Sikridhar in the Chamba district in September 2018. The project is a long running scheme from the local government that was first mooted in 2002, according to the Times of India newspaper. The project has been linked to various companies previously including Jaiprakash Associates.
