Global Cement News

France: Sonia Artinian, Lafarge’s human resources director from 2013 to 2015, has been charged ‘endangering the lives of others’ during operations in Syria. However, she avoided being charged for financing a terrorist organisation instead being granted ‘assisted witness’ status, according to the Agence France Presse. LafargeHolcim is being investigated in France over claims that Lafarge Syria had paid extremist groups to keep its Jalabiya cement plant operational after the outbreak of war in Syria. Six former Lafarge executives have been charged so far with financing a terrorist organisation.

Russia: Local residents have protested against a cement plant being built at Zueovo near Novgorod. Over 800 residents demonstrated against the project and sent a letter to the regional governor, according to the Kolmovo newspaper. The protestors object to potential health concerns related to the plant such as poor air quality due to dust emissions.

India: The Binani Operational Creditors Forum (BOCF) is seeking a forensic audit of the insolvency resolution process of Binani Cement due to an alleged lack of transparency. The forum has filed a petition in the Supreme Court, according to the Press Trust of India. Binani Cement owes about US$1.07bn to its creditors.

The Supreme Court previously blocked an out-of-court offer by UltraTech Cement for Binani Cement. A consortium led by Dalmia Bharat won an auction for Binani Cement with a bid of US$974m in early March 2018. However, UltraTech Cement then made a direct bid to Binani Cement a few weeks later. According to the BOCF, the operational creditors are expected to only receive US$23.2m from a total exposure of US$107m if the bid from Dalmia Bharat is allowed to complete.

India: The Supreme Court has blocked an out-of-court offer by UltraTech Cement for Binani Cement. Banks had offered conditional support to UltraTech’s bid, seeking indemnity from Binani Industries, the owner of Binani Cement, against any potential legal action, according to the Economic Times newspaper. A consortium led by Dalmia Bharat won an auction for Binani Cement with a bid of US$974m in early March 2018. However, UltraTech Cement then made a direct bid to Binani Cement a few weeks later.

Binani Industries had deposited US$115m with HDFC Bank to show its commitment to the deal with UltraTech, along with a bank guarantee for nearly US$1bn. However, Dalmia Bharat had sent letters to all the banks involved saying that any settlement initiated by them would be a breach of trust as they had entered into a contract with Dalmia.

India: Heidelberg Cement India has been certified as over six times net water positive by TOV SOD, an independent certifying agency. During the 2016 – 2017 financial year the company’s cement plants withdrew 1.09kL of water from various sources but they harvested 6.97kL of water. This implies that the company collected more water from sustainable sources, such as rainfall, than it used. The company's multidimensional approach includes diverting rainwater to
reservoirs, installing water harvesting systems, reviving of bore wells, controlling seepage and educating its staff on water conservation.