HeidelbergCement's subsidiary Ghacem had one of its best years ever in 2011, increasing cement deliveries by some 22%. Demand has been boosted by oil discoveries. Further growth is expected by the company in 2012. The increased grinding capacity should come on-stream at its Tema works in November this year, after which the capacity expansion at the Takoradi will commence.
HeidelbergCement Bangladesh brought its new 0.8Mta grinding centre in Chittagong online in January. Cement consumption in Bangladesh is estimated to have expanded by about 15% in 2011 and a further 15% growth is currently being forecast for this year.
HeidelbergCement has negotiated an extension of its €3bn (US$3000m) credit line by two years to 2015 and increased the number of banks in the syndicate from 17 to 19.