Cement News tagged under: Kenya
Pakistan's cement sector contracts by 1% in 1QFY1930 January 2019, Published under Cement NewsThe State Bank of Pakistan on Tuesday released its first quarterly report on the State of Pakistan’s economy for FY19. According to the report, the overall macroeconomic environment remained challenging during the first quarter of FY19 as suggested by the preliminary data. It pointed out that the 6.2 per cent target for real GDP growth seems unachievable with the policy focus now tilted towards macroeconomic stabilisation. The cement sector's output contracted by 1.4 per cent in 1QFY19 a... |
National Cement continues to plot a successful course in east Africa25 January 2019, Published under Cement NewsThis week, China's Sinoma Energy Conservation announced that it has a contract with National Cement Co Ltd (Devki Group) to build a new waste-heat power project at its Athi River cement plant. The leading east African cement producer will provide a KES25.5bn (US$251m) investment for Sinoma to provide power for its Athi cement plant as well as a power unit for its raw steel processing factory in Mombasa. "The total installed capacity of the two projects is 53.5MW… The project (over a pe... |
EAPCC denies reports of potential acquisition22 January 2019, Published under Cement NewsKenya’s East African Portland Cement Co (EAPCC) has denied recent reports that it was in early-stage talks with LafargeHolcim about a potential acquisition. "It has never featured in any board discussions," said the company’s head of financial management, Stephen Nthei, in an interview with Bloomberg. "I don’t think it’s a considerable move given the current shareholding structure." Lafarge currently holds a 41.7 per cent stake in EAPCC. However, the majority shareholders are the Kenyan g... |
Sinoma Energy to supply Athi River plant22 January 2019, Published under Cement NewsChina’s Sinoma Energy Conservation has signed a KES25.5bn (US$251m) deal to power Devki Group’s Athi River cement plant and its Mombasa-based raw steel processor. Sinoma announced in regulatory filings last week that the kiln waste-heat project at the new Athi River plant and the other to power the steel plant in Kilifi will be built over a period of 20 months to produce a combined 53.5MW. |
Work on West Pokot facility set to begin18 January 2019, Published under Cement NewsCemtech Ltd, a subsidiary of India’s Sanghi Group, has moved construction machinery to begin work on its proposed facility in West Pokot, Kenya, by the end of this month. "We start construction in January now that we have been granted all the required 65 licences and consents," said Rajesh Rawal, Cemtech CEO. "We are deploying a plant that will make cement at the least possible cost and allows us to price our product competitively." The receipt of the approvals means that phase one of the... |
Kenya's cement consumption drops by 15% in 9M1815 January 2019, Published under Cement NewsKenya is stuck in a spiral decline of cement demand with sales continuing to plumit in the first 9M18. According to official data the country's cement consumption fell by 113,096t to 4.13Mt in the first 9M18, compared to 4.24Mt in the first 9M17. Narendra Raval, chairman of Devki Cement group, said: "Cement sales are down 15 per cent." There are various reasons for the decline including a wave of countrywide demolitions that have discouraged new investment. "The main reason is people are... |
LafargeHolcim03 January 2019, Published under Cement NewsThe 39.9 per cent-owned LafargeHolcim associate Huaxin Cement is investing US$245m in a contract to build a new production line for Holcim Philippines at the latter’s Davao works. The project includes a 6000tpd clinker production line, a waste heat recovery unit as well as upgrades to an existing 3000tpd production line. Meanwhile, the group's subsidiary Bamburi Cement, which operates in Kenya and Uganda, is expecting its net profit to fall by more than 25 per cent to its lowest level in ... |
Bidders for ARM urged to formalise bids by end of January02 January 2019, Published under Cement NewsARM Cement's administrators, PriceWaterhouse Coopers have completed a transaction timetable that will see bidders need to make their bids for the stricken Kenyan Cement producer by the end of January 2019. ARM Cement is reported to be KES10.2bn (US$100.1m) in debt, said Business Daily. ARM's creditors will review the terms of the best offer, negotiate with the investor and complete the transaction. |
Bamburi Cement forecasts profit drop of 25% in 201811 December 2018, Published under Cement NewsBamburi Cement (LafargeHolcim group) has given a profit warning of earnings likely to drop by 25 per cent in 2018 following difficult market conditions and escalating international energy prices in Kenya and Uganda. "The company wishes to inform the shareholders and potential investors that, based on the preliminary assessment of the unaudited consolidated management accounts, the 2018 full-year earnings of the Group are expected to decrease by more than 25 per cent, compared with the year ... |
Bamburi Cement issues profit warning for 201807 December 2018, Published under Cement NewsKenya’s Bamburi Cement has issued a profit warning for the financial year ended December 2018, with investors expecting the company's lowest earnings in 10 years, according to Business Daily. "The Board of Directors (the "Board") of the Company wishes to inform the shareholders of the Company and potential investors that, based on the preliminary assessment on the unaudited consolidated management accounts, the 2018 full year earnings of the Group are expected to decrease by more than 25 ... |