Global Cement News

Spain: The Spanish cement manufacturers' association, Oficemen, has signed a two-year co-operation agreement with utilities provider Enagás. Under the agreement, the pair will explore decarbonisation techniques and solutions, including the development of infrastructure for transporting captured CO₂, as well as hydrogen and oxygen. Oficemen members reduced their total CO₂ emissions by 44% between 1990 and 2022. Europa Press News has reported that Oficemen believes that carbon capture and storage (CCS) will be crucial in realising the industry’s 2050 climate neutrality goal. Oficemen became the first industrial association in Spain to publish a net zero roadmap in 2020.

US: Monarch Cement and Evergy Energy Solutions plan to build a 20MW solar project in Humboldt, Kansas. The project is scheduled to commence in early 2024, and will serve as a ‘benchmark for integrating renewable energy in business operations,’ according to the partners.

Monarch Cement president Kent Webber said “The board of directors and management of Monarch Cement are extremely excited about this win-win venture, where we are making a giant movement toward achieving our 2050 carbon neutrality goals, being socially responsible and providing a more than significant return on investment to our shareholders." He added "Evergy Energy Solutions has done an incredible job of leading and providing solutions at every obstacle. We couldn't be happier with Evergy Energy Solutions’ performance, professionalism and command of the subject."

Vietnam: Financial management company SSI Securities Corporation says that it expects Vietnam’s cement consumption to ‘bottom out’ in the first quarter of 2024, before recovering ‘gradually’ throughout the rest of the year. Việt Nam News has reported that the anticipated recovery is the outcome of intensified investments in infrastructure by the Vietnamese government, beginning in late 2023. The cement sector also anticipates growing demand from export markets, including Australia, the US, Africa and South and Central America, as it lowers its reliance on exporting to China. Challenges persist in the form of protective measures or stricter standards in other markets, including the Philippines and Europe.

India: Ambuja Cements recorded sales of US$2.92bn in the first nine months of the 2024 financial year, up by 5.2% year-on-year. The company's net income was US$304m, almost double the US$154m it recorded in the corresponding period of the previous financial year.

India: Shree Cement’s sales were US$2.27bn in the first nine months of the 2024 financial year, up by 17% year-on-year from US$1.94bn in the first nine months of the previous financial year. Its net income also rose, more than doubling to US$207m from US$89.8m.