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India: Jaiprakash Associates has revised a US$2.4bn deal to sell cement plants to and UltraTech Cement. The new deal excludes a 1.2Mt/yr cement plant in Karnataka. UltraTech will also spend US$71m to complete a cement grinding plant that is currently being built. UltraTech will now acquire Jaiprakash Associates cement plants in five states with total capacity of 21.2Mt/yr. Jaiprakash Associates will retain a cement capacity of 10.6Mt/yr.
A Memorandum of Understanding signed in February 2016 agreed the terms of the sale. However, currency fluctuations between the Indian Rupee and US Dollar have kept the US Dollar value of the revised deal at a similar amount despite a drop in the Indian Rupee amount. The sale is expected to take around 12 to 14 months to complete subject to statutory and regulatory approvals.
Cementos Bío Bío profit rises by 4% to US$30m in 2015 01 April 2016
Chile: Cementos Bío Bío has reported that its profit rose by 4% year-on-year to US$30m in 2015 from US$28.5m in 2014. Its revenue rose by 4.4% to US$417m. It attributed the growth to higher cement sales and better prices. The Chilean cement producer also announced that it is upgrading the milling capacity at its lime plant in Antofagasta.
Georgia Power starts activity to close 29 ash ponds 31 March 2016
US: Georgia Power has started preparation activity to permanently close all of the company's 29 ash ponds located at 11 coal-fired generation facilities across Georgia. Twelve ponds are scheduled for closure by mid-2018, 16 are expected to close by 2026 and one pond is expected to close by 2030. At present, around 50% of the coal combustion by-products Georgia Power produces are used to make Portland cement, concrete, cinder blocks and gypsum wallboard.
"Our primary focus throughout the closure process is maintaining a reliable generation fleet, while conducting the closure process in the most efficient way possible," said Mark Berry, vice president of environmental affairs for Georgia Power. The company will upgrade each plant to accommodate the dry handling of Coal Combustion Residuals (CCR) required by new federal regulations. The closure of all 29 ash ponds is expected to cost over US$1bn over the next 10 years. In addition, the company has invested approximately US$5bn in new environmental compliance technologies for its coal-fired generation fleet.
CRH named in Euro34bn lawsuit by Palestinian activists 31 March 2016
Ireland: CRH has been named in a Euro34bn lawsuit file in Washington DC launched by Palestinian activists against a group of businesses operating in Israel. The activists who are trying to sue various groups with connections to Israel for allegedly ‘profiteering’ from the building of Jewish settlements in the West Bank, according to the Irish Times.
The Irish building materials company sold its 25% stake in Mashav, which owned the Israeli cement producer Nesher, in December 2015. However, the lawsuit is targeting CRH over its past co-ownership. The lawsuit accuses Nesher of supplying concrete for the foundations of Jewish settlements and for building barriers in the West Bank and for allegedly extracting minerals from Palestinian territory.
Vietnam: Total clinker and cement sales rose by 9.8% year-on-year to 15.71Mt in the first quarter of 2016, the Building Material Department under the Ministry of Construction has said. The sales figure represents 20.7% of the country’s target for 2016.
In March 2016, the country’s cement sales rose by 17% year-on-year to 6.27Mt, supported by growing construction projects and the recovery of the real estate market. Clinker and cement exports grew by 115% year-on-year to 1.35Mt March 2015. Total export volumes for the first quarter of 2016 rose by 2% to 3.5Mt.
The Ministry of Construction forecasts that Vietnam's sales of cement and clinker will rise 4 - 7% on year to between 75 – 77 Mt in 2016 despite economic concerns. The country now has 76 cement production lines with a combined production capacity of 82Mt/yr.