Cement News tagged under: Asia
UltraTech agrees to acquire India Cements grinding facility23 April 2024, Published under Cement NewsIndia’s leading cement producer, UltraTech Cement , has agreed to purchase a 1.1Mta grinding facility in Parli in Maharashtra for INR3.15bn (US$37.8m) from India Cements Limited . UltraTech, a subsidiary of the Aditya Birla Group, will also invest INR5.04bn to expand its total capacity by 3Mta, including the Parliament facility. The acquisition of the facility, as part of an asset purchase agreement, includes a captive railway siding. The company has stated that purchase will help ... |
VNCA calls for government intervention in Vietnam cement industry12 April 2024, Published under Cement NewsThe Vietnam National Cement Association (VNCA) has reported that the country’s cement sector is in crisis, as a number of major players are at risk of bankruptcy or foreign acquisition, due to low production and consumption levels. Despite the country’s 61 cement production facilities having a capacity of approximately 117Mta, total consumption was only 87.8Mt in 2023, including a domestic demand of 56.6Mt. The association said, “Domestic cement consumption plummeted by 16 per cent in ... |
CEMEX Philippines opens a new strategic warehouse in Batangas11 April 2024, Published under Cement NewsIn response to increasing demand for high-quality construction materials in the region, CEMEX Philippines has opened a strategic warehouse in Barangay Pangao West, Ibaan, Batangas. The 1500m 2 facility aims to reinforce the company’s supply chain in the region. More than PHP1trn (US$17.75bn) has been allocated by the company towards infrastructure development, with almost 50 per cent of the investment set aside for road networks and railway projects. The proposed projects are further i... |
Indian cement stocks boosted 3% due to increasing bag prices09 April 2024, Published under Cement NewsIndian cement stocks have seen significant price increases, as major companies have imposed price hikes on bags of cement (averaging INR10-INR15 per bag). The five key producers ( UltraTech Cement , Shree Cements , Ambuja Cement , ACC and Dalmia Bharat ) all experienced gains in share price, ranging between one and three per cent on 3 April 2024. Sources in the industry have reported that various companies in the region have announced prices increases of INR10-15 per bag in t... |
Indian cement leaders will expand capacity by 42.1Mta in FY24-2508 April 2024, Published under Cement NewsUltraTech Cement announced plans to commission an additional 5.4Mta of production capacity, which will bring its overall capacity to 151Mta. This expansion is part of a wider effort to increase its production by 21.6Mta in FY24-25. ACC-Ambuja Cement, the company’s closest competitor, has also announced an addition of 11.6Mta of capacity in FY24-25. Kolkota-based Shree Cement Ltd announced that it has commissioned a further 3Mta of capacity. Industry analysts estimate that the compa... |
West China Cement Ltd announces a 65% drop in net profit20 March 2024, Published under Cement NewsWest China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before. Following West China Cement’s poor financial performance, the company has vowed to implement cost c... |
Asian producers warned over carbon price liability05 December 2023, Published under Cement NewsAsian cement companies will see consistent negative margins in the next decade if they do not decarbonise, according to a report by the Imperial College Business School. The report, published in partnership with the Singapore Green Finance Centre, explored the financial impact of decarbonisation on Asia’s cement and steel companies covered by selected Asian Emission Trading Schemes. Researchers Dr Anastasiya Ostrovnaya, Antigoni Theocharidou, Julian Smart, Jan Ahrens and Dr Bob Buhr c... |
Taiwan Cement plant has 107MWh battery commissioned26 September 2023, Published under Cement NewsNhoa Energy, a unit of Nhoa SA, formerly Engie EPS, has announced the commissioning of a 107.3MWh energy storage project at a Chinese plant of Taiwan Cement Group (TCC Group). Announcing the system's completion recently, TCC Group said Nhoa Energy had designed and developed the 43.2MW energy storage system. Located at TCC Group’s Yingde plant in Guangdong province, the battery is the main part of one of the largest industrial microgrids, Nhoa, which is majority owned by TCC. The Nhoa ... |
Cement production growth fuels record-high emissions in China23 May 2023, Published under Cement NewsA 4.1 per cent YoY increase in China’s cement production in the first quarter of 2023 has contributed to a four per cent rise in the country’s CO 2 emissions, marking a record high for the first quarter of a year. According to Carbon Brief, the uptick was driven by a economic rebound following the end of China’s zero-COVID-19 policy, which led to oil consumption advancing by 5.5 per cent, coal consumption up by 3.6 per cent and gas use expanding by 1.4 per cent. Steel production also re... |
India focusses on net zero concrete27 April 2023, Published under Cement NewsRepresentatives of more than 75 renowned academic institutions and businesses from across the world have gathered in New Delhi, in India, to participate in the Innovandi Global Cement and Concrete Research Network (GCCRN) Spring Week. They are meeting to help drive critical research and innovation towards decarbonisation of concrete. The GCCRN brings together more than 450 researchers and scientists from more than 40 leading universities and institutions, including EPFL (Lausanne), South... |