China: Huaxin Cement’s revenue fell by 6% year-on-year to US$4.43bn in 2022 from US$4.72bn in 2021. Its net profit decreased by 50% to US$393m from US$780m. Its sales volumes of cement and clinker declined by 20% to 75.3Mt and concrete sales volumes nearly doubled to 16.4Mm³. Despite flat cement demand the company expects a general domestic economic improvement, real estate market reforms and a focus on infrastructure to improve its fortunes in 2023.

During the reporting period the subsidiary of Switzerland-based Holcim started operating a 3000t/day production line at Nepal Narayani in early 2022 and commenced the second stage of a project to build a 4000t/day clinker line at Maweni in Tanzania in July 2022. Preparation work for a new clinker line project in Malawi also began. The company added that it has completed the investment and verification for ten additional projects in Africa, the Middle East and elsewhere in preparation of future business expansion. Overall, 13% of the group’s operating revenue derived from business outside of China in 2022 compared to 8% in 2021.

Saudi Arabia: Southern Province Cement says that it has finished reviewing submissions for a contract to build a new line at its Jazan cement plant, and is now drafting and reviewing the contract to sign with its chosen contractor. The new line will have a capacity of 10,000t/day and will replace existing production lines.

Southern Province Cement recorded sales of US$357m in 2022, down by 9% year-on-year from US$325m in 2021. The company said that its operating expenses rose, while its cement volumes and selling prices fell. Its profit dropped by 30% to US$80.2m from US$114m.

China: China Tianrui Group Cement reported a year-on-year decline in its sales during 2022. The group recorded sales of US$1.61bn, down by 15% from US$1.85bn. Its net profit was US$65.1m, down by 63% from US$174m.

India: Ramco Cements has accepted bids worth US$60.9m for bonds maturing in four years, in four years and six months and in five years. Reuters has reported that the two shorter maturity bonds are each worth US$18.2m, while the five-year maturity bond is worth US$24.3m.