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Vietnam: Yen Binh Cement's revenue grew to US$12.7m in the first half of 2015, thanks to its expanding markets.
In the period, Yen Binh Cement sold 308,000t of cement and exported 480,000t of clinker, fulfilling 40% of its 2015 target. The company produced 400,000t of cement in the six months, meeting demand in Yen Bai Province and the neighbouring Provinces of Ha Giang, Tuyen Quang and Lai Chau. Yen Binh Cement also exported 480,000t of clinker. In 2015 it aims to generate a revenue of US$33.2m, with a net profit of US$962,640.
Lafarge Africa's first half pre-tax profit rises 13% 30 July 2015
Nigeria: Lafarge Africa has reported that its pre-tax profit rose by 13% year-on-year to US$149m in the first six months of 2015, according to Reuters. Its turnover in the first six months of 2015 increased to US$586m from US$523m in the same period of 2014. Its finance and investment income rose to US$17.6m from US$8.59m in 2014.
Nigeria: BUA Group's US$600m, 3Mt/yr capacity Obu cement plant in Okpella, Edo is set to be start cement dispatches in the first week of August 2015. Clinker production has already commenced.
"The Obu Cement plant, which is about 5km away from Edo Cement Company, is 100% owned by BUA Group. The Edo Cement plant, which has a capacity of 500,000t/yr is also being upgraded and will receive clinker from the Obu Cement plant before being fully completed," said BUA Group chairman and CEO Abdulsamad Rabiu. "The two plants will produce about 3.5Mt/yr of cement. Asides from the initial cost of over US$500m in Obu Cement, we have also invested over US$100m in gas turbines to power a 50MW plant for 24-hour electricity generation, as well as the construction of a 30km gas supply pipeline." The Obu Cement plant was supplied by FLSmidth of Denmark, while the civil construction was handled by construction firm Julius Berger.
Rabiu said that the company's three-year journey to construct the plant would give a much-needed boost to Nigeria's cement industry, as well as enhance the development of related sectors including housing and construction. Rabiu said that the plant's location in Edo makes it a strategic point for markets in the north and south of the country. "Essentially we are 200m to the highway linking Okene, Kogi and Benin, Edo, which will guarantee adequate distribution of products," said Rabiu. Rabiu revealed that an estimated 250 – 300 trailers of cement would be delivered to markets across the regions each day once the Obu plant starts full commercial operations.
The Obu Cement plant currently uses 9000t/day of limestone and clay for its large-scale operations, which will provide over 1500 direct jobs. The plant will produce 32.5, 42.5 and 52.5 grade cement.
"As far back as April 2014, BUA Group signed a gas sales and purchase agreement with the Nigerian Gas Company (NGC), which will guarantee the supply of about 0.9Mft3/day of gas to the Obu plant. However, liquid fuels will also be used as a backup, to ensure production around the clock," said Rabiu.
Italy: Trading in Italcementi was suspended due to an excessive rise on 29 July 2015 after the announcement on 28 July 2015 that German rival HeidelbergCement was buying a controlling stake of 45% at a price of Euro10.60/share, according to ANSA. The share price, which closed at Euro6.59, would have shot up by 50.9%, but trading was suspended.
India: The government has issued a show-cause notice to Ambuja Cement for not adhering to the condition of converting at least 50% of the clinker it produces into cement in Himachal Pradesh at cement plant in Darlaghat, according to The Tribune, Himachal Pradesh.
Principal secretary of industry RD Dhiman has reportedly been asked to submit an 'Action Taken' report about the total loss of revenue on account of the reduced royalties and various taxes to the government.
"It has come to the notice of the government that Ambuja Cement has been converting only 17% of its clinker into cement at its plant at Darlaghat, which has resulted into the loss of revenue to the government," said industry minister Mukesh Agnihotri. He added that the department had been asked to compile a report of the total loss to it on this account.
Ambuja Cement has been asked to explain why it has violated the agreement that it entered into with the government. If the reply given by the company is found to be unsatisfactory, the permit to operate the plant could be withdrawn. As per the agreement signed between the government and Ambuja Cement for the plant, at least 50% of the clinker has to be converted into cement within the state.