Global Cement News

Greece: Titan Cement International stated in its preliminary results for 2022 that it expects to record Euro2.25bn in consolidated sales for the year. The figure corresponds to growth of 32% year-on-year from full-year consolidated sales of Euro1.71bn in 2021. The group's anticipated earnings before interest, taxation, depreciation and amortisation (EBITDA) are Euro330m, up by 20% year-on-year from Euro275m. Meanwhile, preliminary net debt fell by 12% year-on-year to Euro800m from Euro912m.

During the fourth quarter of 2022, Titan Cement International noted a 'significant improvement' in profitability quarter-on-quarter in its Southeast Europe and US regions. This came about partly due to a decline in electricity costs. The producer noted the success of its cost-saving actions in the area.

India: Sagar Cements recorded consolidated sales of US$197m during the first nine months of the 2023 Indian financial year, more than four times the US$44.6m that it recorded during the corresponding period of the 2022 financial year. Costs rose sharply during the period. Raw materials accounted for 45% of total costs. The producer spent US$32.1m on raw materials, up by more than a factor of four from US$6.54m. Sagar Cements made a nine-month net loss of US$11m, compared to a US$6.07m profit during the first nine months of the 2022 financial year.

Ireland: A court has ruled that the Irish government need not pay legal costs for Environmental Trust Ireland president Michelle Hayes' challenge against the Environmental Protection Agency (EPA) in mid-2022. Hayes unsuccessfully sued the EPA for issuing Irish Cement with a licence to use alternative fuel (AF) at its Limerick cement plant in May 2021. The AF will comprise up to 90,000t/yr of waste tyres, biomass and/or mining by-products.

At the costs hearing, the court noted that Hayes had already caused the EPA to incur 'very significant' legal costs. The court said that Hayes 'sought to have the taxpayer pay even more.' It added that, as a solicitor at Hayes Solicitors Limerick, which represented her in her unsuccessful challenge, Hayes stood to effectively benefit from any recuperated costs. The court concluded "It would mean that legal practitioners like herself are paid by the taxpayer for bringing environmental litigation which is unmeritorious."

Pakistan: All cement plants in Pakistan will have implemented systems for tracking taxable assets by 1 April 2023. The required upgrade comprises an applicator to generate and affix unique identification stamps on products for digital monitoring. The Business Recorder newspaper has reported that the Federal Board of Revenue initially set a deadline of 1 July 2022 for conformity with the new rules. Plant operators will bear the cost of licences for their new applicators.

Poland: The European Union (EU) Innovation Fund has awarded Euro228m towards the Go4ECOPlanet carbon capture and storage project at Lafarge Poland’s Kujawy cement plant. The project has a total cost of Euro380m.

It will use Air Liquide's Cryocap FG technology to capture the CO₂ at the plant. The CO₂ will be liquefied and transported by rail to a port and then injected into a depleted oil field for permanent storage. The transport and storage of CO₂ once it has left the cement plant will be accomplished by cooperation with other partners with knowledge and experience in the liquefaction, transport and storage of gases. The goal is to create a complete carbon capture and storage industrial and logistics chain. Commissioning of the cement plant upgrade is planned for 2027.