South Korea: Korea Cement Association (KCA) members have agreed to reduce their net CO₂ emissions to zero by 2050. To help them achieve this target, the state-owned Korea Development Bank has pledged US876m in investments in emissions reduction and green production upgrades by 2025, according to the Maeil Business Newspaper. The KCA says that 90% of local cement producers have increased their environmental, social and corporate governance investment and reduced their use of coal.

Egypt: Tamer Magdy, the country manager for Sinai Cement, says that parent company Vicat is keen to continuing to invest in the local market. He noted that noted that the France-based building materials producer is a long-term investor with confidence in the Egyptian economy and that it has no plans to leave, according to the Daily News Egypt newspaper.

He praised the government’s decision in early July 2021 to introduce reduced cement production quotas. The group is also keen for the authorities to develop the Sinai region more, where its main market is based. Vicat has operated in Egypt since 2003 when it acquired Sinai Cement. However, Magdy also called on the government to provide subsidies for exports.

India: Synergy Metals Investments Holding has received the Competition Commission of India’s approval via the accelerated ‘green channel notice’ to acquire a minority stake in JSW Cement. The Press Trust of India has reported that the accelerated procedure aims to improve merger regulation through transparent review with a minimal waiting period.

Ethiopia: China-based Sinoma International Engineering’s subsidiary Suzhou Sinoma has signed an initial deal with Western International Holdings to build a 10,000t/day clinker production line at Lemi in Amhara Region for around US$326m. The line includes entry of raw materials to the packaging of finished cement. Once Western International Holdings establishes a company to carry out the project Suzhou Sinoma will sign a further contact to confirm the deal. At this point construction is expected to take around 20 months.