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Indian cement industry to invest US$15bn in capital expenditure

23 August 2024

India: India’s top cement producers are planning to invest approximately US$15bn from 2025 - 2027 in capital expenditure, according to a report by ratings agency CRISIL. During this period, the industry is expected to expand cement grinding capacity by 130Mt/yr, which represents a fifth of the current capacity. This move is prompted by robust demand and competitive market share goals, reports the Economic Times.

Senior director and deputy chief ratings officer at CRISIL Ratings, Manish Gupta, said "Cement demand outlook remains healthy with a compound annual growth rate of 7% over the financial years 2025-2029. The surge in capital expenditure over the next three financial years will primarily cater to this growing demand as well as to the aspirations of the cement makers to improve their national presence."

Published in Global Cement News
Tagged under
  • India
  • Investment
  • capital expenditure
  • Expansion
  • Grinding
  • Capacity
  • GCW674

Adani Group to sell stake in Ambuja Cements

23 August 2024

India: Adani Group is planning to sell a 2.84% stake in Ambuja Cements through its entity Holderind Investments, aiming to raise US$500m. The sale of 69.96 million shares will be at a price of US$7.15 per share. This move is part of a strategy to divest part of its substantial 70.33% holding in the cement company. Holderind Investments itself accounts for 50.90% of this ownership.

Published in Global Cement News
Tagged under
  • India
  • Adani Group
  • Ambuja Cements
  • Stake
  • Shares
  • Divestments
  • GCW674

Cemento Cruz Azul to build new grinding mill at Lagunas cement plant

22 August 2024

Mexico: Cemento Cruz Azul will invest nearly US$40m to build a new grinding mill at its Lagunas cement plant in Oaxaca to increase cement production capacity. General manager  Mario Morán said that construction will be completed by October 2025.

Víctor Velázquez, chair of the board of directors, said "The mill is designed to be highly energy efficient and environmentally friendly, as it does not use water."

Published in Global Cement News
Tagged under
  • Mexico
  • Cooperativa La Cruz Azul
  • Grinding mill
  • Capacity
  • Expansion
  • GCW674

Cementos Argos to increase export capacity with new silo in Cartagena

22 August 2024

Colombia: Cementos Argos is set to finish construction of a new silo at its Cartagena export terminal by November 2025, aiming to increase its exports of cement to the US and ‘several’ Caribbean countries. Total investments in the project are valued at US$17m. The dome-shaped silo can store up to 20,000t of cement and allows for the simultaneous loading of ships at two docks, potentially increasing cement and clinker exports to 3.5Mt/yr.

Published in Global Cement News
Tagged under
  • Colombia
  • Cementos Argos
  • Export
  • Silo
  • Terminal
  • Export
  • GCW674

Neocrete collaborates with global cement producers to reduce concrete's carbon footprint

22 August 2024

New Zealand: Neocrete has entered a partnership with major cement manufacturers, including Cemex, Heidelberg Materials, CRH, Titan, Cementos Argos and Ultratech Cement to promote its new Activator product aimed at reducing the amount of cement required in concrete. The product uses volcanic ash or residual ash from industrial processes to cut the amount of cement required by 40% to 50%, according to the company. Neocrete aims to replace cement completely, resulting in carbon-free concrete, by 2027. The new product will be submitted for life cycle assessment once a new pilot plant in Mt Wellington is operational. The plant is valued at US$2m and will produce 0.12Mt/yr of cement, to meet 10% of New Zealand’s demand.

Co-founder Zarina Bazoeva said "We don't need to produce the whole volume of cement. We activate the concrete chemically with a small catalyst at 3kg compared to 100kg of cement. So, we can scale fast."

Published in Global Cement News
Tagged under
  • New Zealand
  • NeoCrete
  • GCCA
  • decarbonisation
  • concrete
  • Product
  • volcanic ash
  • Ash
  • Partnership
  • GCW674
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