Global Cement News

Taiwan: Taiwan Cement has a secured a US$592m green loan that will support its carbon-cutting and renewable energy projects. Credit Agricole CIB served as the green structuring advisor for the deal, while BNP Paribas, MUFG Bank, DBS Bank (Taiwan) and Taipei Fubon Bank joined as underwriters.

The loan carries an interest premium of only 100 basis points, around half the rate seen on similar Euro-denominated green bonds issued by other large investment-grade corporations. The funds will be used for repaying debt and for recycling and emissions-reducing projects. The company said that it will leverage finance tools to support its green transition and boost competitiveness on the global stage.

China: West China Cement will sell Yili Yaobai Cement, Huocheng County Nangang Xixin Mining Industry and Xinjiang Baihang Environmental Protection Technology to Anhui Conch Cement and Conch (Shaanxi) for US$55m via its subsidiary Yaobai Special Cement Group, according to MT Newswires. It will also divest three additional assets for US$22.5m, US$128m and US$23.7m under separate agreements. The sales remain subject to board approval and other conditions.

France: 80 FNSCBA-CGT (National Federation of Construction, Wood and Furniture Workers) members protested outside CRH subsidiary Eqiom’s Lumbres cement plant in northern France to denounce the ‘outrageous’ working and living conditions of Chinese workers employed there, according to construction union BWI.

Eqiom signed a contract with China-based firm CBMI, which employed 250 Chinese workers to upgrade the plant by building a low-carbon kiln to reduce CO₂ emissions and energy consumption, which reportedly cost more than €200m. However, there are claims that the workers live in a campsite near the cement plant, sleeping in ‘overcrowded’ tents and working 12 hours a day, six days a week. The protesters have called for the full enforcement of French labour legislation and transparency regarding the Chinese workers’ wages and working conditions.

FNSCBA-CGT general secretary Mathieu Dougoud said “We cannot remain silent on the exploitation of foreign workers. It is important to stand up to defend these workers, their jobs and our national collective agreements. We only urge Eqiom to provide the documents certifying that these Chinese workers are indeed under the aegis of the French labour code.”

In a statement sent to Global Cement Eqiom said "The K6 project is carried out in strict compliance with all applicable French legislation, including labour law, and in line with the values of our company. The latest checks carried out by the competent authorities attest that the project is in full compliance with French law."

Kazakhstan: Steppe Cement reported a net profit of US$1m for the year ending 31 December 2024, down by 78% from US$4.5m in 2023, due to rising input costs, particularly a 42% increase in electricity tariffs and a one-off VAT charge. Sales rose by 4% to US$84.9m, while earnings before interest, taxation, depreciation and amortisation (EBITDA) fell to US$7.5m from US$12.4m in 2023. The producer retained a 14.5% market share in a growing national cement market, where consumption increased t 11.9Mt, from 11.3Mt in 2023. A completed upgrade to Line 6 raised clinker output to 1.47Mt.

China: NovaAlgoma Cement Carriers (NACC) has placed another order for a HeatPower 300 waste heat recovery system from Climeon on a second cement carrier, to be built at Zhejiang Xinle Shipbuilding Co. and delivered in 2027.

The 38,000t vessel will run exclusively on green methanol and is expected to cut CO₂ emissions by over 60% compared to conventional vessels, reportedly avoiding around 180,000t of CO₂ emissions over 10 years. The HeatPower 300 will generate up to 300kW of carbon-free electricity from engine cooling water and exhaust gases.