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Jordan: Lafarge Jordan’s proposal to replace its Fuheis cement plant with a US$2.8bn urban development is waiting for local government approval. The company signed a memorandum of understanding with the Fuheis Municipality but is still awaiting the municipal council's approval to go ahead with the plan to turn its site into an urban hub, the company's chief executive officer, Amr Reda said in a press conference reported upon by the Jordan Times. He added that, despite the plant not being operational since 2013, it is still facing legal challenges on environmental grounds and that it is paying around US$7m/yr in compensation for environmental issues.
Pakistan tax body looks forward to contributions from cement bonanza 28 November 2016
Pakistan: Tax bodies are expecting to see a jump in revenue in the 2016 – 2017 financial year from cement producers as Chinese-funded infrastructure starts to be built. The Large Taxpayers Unit (LTU) in Karachi, the largest revenue-collecting arm, estimates that it will tax producers US$114m in the 2016 – 2017 financial year, according to the News International newspaper. A study by the LUT said that growth would arise from increases in sales tax and federal excise duty following the start of projects worth US$46bn from the China-Pakistan Economic Corridor.
Cement sales have risen by 8.3% year-on-year to 8.98Mt in the first quarter of the local financial year. This follows a 17% rise in domestic sales to 33Mt in the 2015 – 2016 financial year.
India: Dalmia Bharat's income has risen by 14% year-on-year to US$577m in the first half of its financial year, which ended on 30 September 2016, from US$505m in the same period of the previous financial year. Its earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 28% to US$135m from US$105m. Its sales volumes rose by 21% to 7.18Mt from 5.95Mt. The cement producer explained that it had focused on building up existing capacity and entering new markets in Uttar Pradesh and Madhya Pradesh during the period.
Lake Cement to build 1.4Mt/yr plant in Tanzania 28 November 2016
Tanzania: Lake Cement plans to invest US$150m towards building a new 1.4Mt/yr cement plant in Bagamoyo. Construction will start in the middle of 2017 and commissioning is planned for mid-2018, according to the Citizen newspaper. The Indian-owned cement company has operated a 0.5Mt/yr at Kimbiji since 2014. Its Nyati Cement brand is sold locally and exported to Rwanda, Burundi and the Democratic Republic of Congo.
My Home Industries launches new logo 25 November 2016
India: My Home Industries has launched a new logo for its flagship brand Maha Cement. “We have been around for nearly 18 years and our logo for our flagship brand Maha Cement has remained that of an old-style muscle man. But change is always required. The new logo has replaced the muscleman with a modern technician attesting for its quality,” said S Sambasiva Rao, Executive Director of My Home Industries in an interview with the New Indian Express newspaper. The joint venture between India’s My Home Group and Ireland’s CRH is expanding its business and building a 1.2Mt/yr plant at Tuticorin in Tamil Nadu.