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Oman: According to Middle East North Africa Financial Network, Oman Cement has reported a more than 40% decline in net profit for the first six months of 2015. Net profit fell to US$14.1m from US$23.6m a year earlier.
Oman Cement's sales revenue declined marginally to US$65.7m in the first half of 2015 compared with US$66.7m in the corresponding period of 2014. Investment and other income fell sharply by 54.1% to US$4.68m from US$10.2m in 2014. As a result, Oman Cement's total revenue fell by 7.7% US$70.9m.
In June 2015, Oman Cement disclosed that due to operational difficulties it had to prolong the shutdown of one of its kilns. The kiln, with 4000t/day clinker production capacity, was closed for planned maintenance, which was to be completed in early June 2015. Oman Cement warned that the prolonged shutdown of a kiln would have an impact on its second-quarter performance.
Oman Cement's total expenses rose by 8.2% to US$55.3m in the first six months of 2015 compared to US$51.2m in the same period of 2014. The Ministry of Oil and Gas had increased the price of natural gas supplied to industrial companies by 100% from 1 January 2015. As such, Oman Cement's gas price was hiked from US$1.5/mmbtu to US$3/mmbtu. The company expects its gas costs to rise by an estimated US$17.2m in 2015.
Cement production in Iran exceeds 15.8Mt 13 July 2015
Iran: The Ministry of Industry, Mines and Trade has announced that in the first three months of 2015, cement production reached 15.8Mt and clinker output was 19.3Mt. In the same period, more than 12.7Mt of cement was distributed inside the country and 4.34Mt of cement was exported.
The Employers Guild Association for the cement industry said that, in the Iranian year 1393 (to 21 March 2015), cement and clinker exports exceeded 18.9Mt, up from 18.8Mt in 1392. Iran produced 66.4Mt of cement in the year and 70Mt of clinker.
Yemen: According to local media, five alleged Saudi-led airstrikes attacked Amran Cement plant on 12 July 2015, leaving three workers dead and 10 others injured. The cement plant was almost entirely destroyed. Yahia Abu Hulaiqa, the director of Amran Cement plant, said that the losses are estimated at US$100m.
India: According to India Investment News, Gujarat chief minister Anandiben Patel has inaugurated a new grinding plant at Sanghi Industries' plant in Abdasa, Kutch.
The new grinding plant will have a production capacity of 1.2Mt/yr that will enable the company to boost its cement production capacity to 4.1Mt/yr from 2.9Mt/yr. The plant will cost around US$19.7m. The chief minister also laid the foundation stone for a 15MW waste heat recovery (WHR) system that will recycle waste heat of the cement plant into power. Sanghi Industries will inject US$23.6m to develop the WHR project, which it intends to commission in the next two years.
Russia: According to SKRIN Newswire, in the first five months of 2015, Eurocement's Pikalevskiy cement plant shipped 11,700t of bagged cement to its customers, which is 23% more than in the same period of 2014.