India: Adani Cement and JK Lakshmi Cement have emerged as frontrunners in the contest to acquire Sanghi Cement for US$733m. The Business Standard newspaper has reported that the prospective buyers are expected to submit formal offers before October 2023.

New Zealand: Neocrete has launched an investment round to raise over US$1.86m in funding. The start-up will use the funds to build an industrial-scale plant for its Neocrete activator for pozzolan-based concrete. The use of Neocrete's activator can eliminate up to 50% of cement in concrete. Neocrete aims to ultimately displace 100% of concrete's cement content. The Hawke's Bay Today newspaper has reported that pozzolan-based concrete made using Neocrete's additive offers resilience benefits compared to conventional ordinary Portland cement (OPC)-based concrete. It is especially suited construction in seawater-exposed settings.

India: CK Birla Group subsidiary Orient Cement has concluded a share subscription and shareholders' agreement with Cleantech India to acquire a 29% stake in Ardeur Renewables for US$1.16m. Ardeur Renewables is building a 16MW solar power plant at Orient Cement’s Chittapur cement plant in Karnataka and a 5.5 MW solar power plant at Orient Cement’s Jalgaon cement plant in Maharashtra. The cement producer says that the acquisition will help it to further increase its renewables usage and optimise its energy costs.

Nigeria: Dangote Cement has completed the first tranche of its on-going share buyback programme. The Punch newspaper has reported that the producer launched the buyback earlier in July 2023. It bought back 0.7% of its shares for US$51.7m.