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PT Semen Indoensia plans feasibility study for cement plant in Aceh 12 November 2015
Indonesia: PT Semen Indonesia is conducting a feasibility study in Aceh in connection with its plan to build a cement plant in Pidie, Aceh.
"Our partner is ready to build a cement plant in Aceh. We are now in the process of completing the feasibility study. The ground-breaking ceremony is expected to take place in 2016 if all the processes go well," said the company's President Director, Suparni. He noted that around US$257 – 294m will be invested to develop the 3Mt/yr cement plant, excluding the infrastructure cost. He added that the company will set up a joint venture for the project with a local company in which PT Semen Indonesia will later be the majority stockholder, with more than 70%. "It is forecast that the construction will be completed in 2019 - 2020," said Suparni.
The cement plant would target consumers in the eastern parts of Sumatra and North Sumatra, with a possibility of exporting some of its production to Myanmar, Malaysia, and Singapore. It will also target Bangladesh in view of the country's cement needs, which have so far only been met through imports. "Bangladesh only has one cement plant that cannot fully meet the country's demands. Around 85% of the country's needs are met through imports," said Suparni.
Suparni claimed that the efforts to boost exports will also be made following the completion of Semen Indonesia's 3Mt/yr Indarung VI plant in West Sumatra and a 3Mt/yr plant in Rembang, Central Java, in the third quarter of 2016.
McInnis Cement seeks tax stabilisation agreement to improve Providence Port building 12 November 2015
Canada/USA: McInnis Cement's plan to import cement through the Port of Providence, Rhode Island is scheduled for a hearing on 12 November 2015 at Providence City Hall on its request for tax incentives to improve its local facility.
McInnis USA, a subsidiary of Montreal-based McInnis Cement, has requested a 12-year tax stabilisation agreement for the property taxes it will pay on planned improvements to an industrial building at ProvPort. The company has requested a similar tax stabilisation agreement for tangible property taxes.
The site would be turned over to McInnis under a long-term lease, which would restore the facility as a taxable location. Under the property tax stabilisation agreement, the company would pay taxes of US$50,000 for the first three years. Full taxes would begin to be phased in in the fourth year, based on a projected assessment of US$5m. The full value of its Providence facility would be determined in the seventh year, after which full taxes would begin to be phased in.
McInnis Cement operates a limestone quarry in southern Quebec and is building a 2.2Mt/yr cement plant, as well as a maritime terminal, in Gaspesie, a town in Quebec, Canada.
La Unión Cement in court over 'sexist' adverts 11 November 2015
Spain: La Unión Cement has been accused of producing sexist advertising, including using bikini-clad women and close ups of cleavages, to sell its product, according to local media.
A court in Valencia is due to rule on the alleged sexist advertising after a lawsuit was filed against the building supplies company in October 2015 by the Madrid-based Institute of Women, part of the government's Ministry of Equality. It is the first time the Violence Against Women department of the public prosecutor's office has been part of a case of sexist advertising and it will rule alongside the department of trade on the case.
The lawsuit concerns various promotional videos for the cement company, which show scantily clad women for no apparent reason, according to the Institute of Women. "Our job is usually based on raising awareness of gender equality, but sometimes there are instances, such as this, when we are moved to take legal action," said the Institute´s Head of Communication, María Jesús Ortiz Gómez.
The prosecution has demanded that the cement company cease all allegedly sexist advertising and has also asked the court to ban any further usage of the images in question. The defence has argued that the images belong to an old campaign that is no longer running. La Unión has previously been keen to point out how much it prizes equality. "La Unión reaffirms its corporate vision in favour of the training of women and their inclusion in the company," it said in a press released dated August 2015. The company claims that it 'exceeds today´s standards of equality and gender parity.'
Uzbekistan/Turkey: The Turkish Dal Engineering Group plans to commission a new 1.5Mt/yr cement plant in Surkhandarya by late 2017. A Turkish company and Almalyk Mining and Metallurgical Combine (AMMC) have signed a memorandum on cooperation for the construction of the cement plant.
The US$225m cement plant will potentially be financed by a US$90m loan from the Fund for Reconstruction and Development of Uzbekistan, commercial banks loans totalling US$110m and the equity of AMMC, worth US$24.4m.
Uzbekistan currently has six cement plants with a total installed capacity of more than 7Mt/yr. The largest of them are Kyzylkumcement (3.08Mt/yr), Akhangarancement (1.74Mt/yr) and JSC Kuvasaycement (920,000t/yr). Cement production in Uzbekistan in 2014 increased by 5.1% to 7.35Mt.
Buzzi Unicem’s revenue grew by 5.2% in the first nine months of 2015 11 November 2015
Italy: Buzzi Unicem's profit in the first nine months of 2015 grew to Euro120m from Euro51.4m in the same period of 2014. Its revenues increased by 5.2% year-on-year to Euro1.99m and its earnings before interest, taxes, depreciation and amortisation (EBITDA) rose by 16.4% to Euro352m.
Buzzi said it sees good momentum of demand in the US, but suffered from 'remarkably lower results' in Ukraine and Russia, penalised by the depreciation of the local currencies. Deliveries were subdued in Central Europe, while in Italy cement consumption is still down.
For the whole of 2015, Buzzi confirmed that it expects its recurring EBITDA to improve to approximately Euro450m.