Global Cement News

Pakistan: Thatta Cement’s sales were US$19.6m in the nine-month period up to 31 March 2024, up by 38% from nine-month levels in the previous financial year. The producer’s cost of sales climbed by 12% to US$14.3m. Thatta Cement succeeded in raising its profit by a factor of eight to US$2.64m.

India: Aditya Birla subsidiary UltraTech Cement and JSW Cement are among companies in contention to acquire Vadraj Cement, the Economic Times newspaper has reported. To this end, companies have reportedly raised US$959m-worth of new finances through loans.

Uzbekistan: China-based Conch International Holdings and Zhejiang Shangfeng Building Materials have successfully inaugurated their new 2.5Mt/yr Andijan cement plant, near Nayman on the border with Kyrgyzstan. Trend News has reported the cost of the plant as US$250m.

Spain: Cementos Molins experienced a 1.8% year-on-year drop in sales to €336m in the first quarter of 2024. Sales growth across most regions failed to offset a decline in Argentina. Nonetheless, the company's earnings before interest, taxation, depreciation and amortisation (EBITDA) rose by 5% to €90m. Group net profit was €52m, up by 38% year-on-year. Net debt dropped to €46m, positioning the company well to continue to execute new investments under its 2030 Sustainability Roadmap.

CEO Julio Rodriguez said “We have achieved very strong operating results during the first quarter, in line with the company’s strategic plan 2024-26, with great progress in the execution of our net zero roadmap towards decarbonisation. I would like to thank the entire team of professionals at Cementos Molins for their effort, great commitment, and excellent results.”

Malaysia: The state government of Sabah broke ground on the construction of the Kampung Kawayoi Pinangah cement plant in Tongod on 27 April 2024. Bernama Daily Malaysian News has reported the value of investment in the plant’s construction as US$252m. Chief Minister Datuk Seri Hajiji Noor said that it will enrich the local economy with 1000 new job opportunities.