Cement News tagged under: Kenya
New cement plant to be built in Kilifi, Kenya20 November 2017, Published under Cement NewsARM Cement’s facility in Kilifi County is likely to face competition as Devki Group founder, Narendra Raval, plans to invest in the construction of a 0.75Mt cement plant in Mariakani, Kilifi County. The project, which represents a US$290m investment, will be built on a 20ha site. Construction of a new cement plant will further bring down the prices while reducing the long distances lorries cover to deliver cement to Kenyans at their doorstep,' said Mr Raval, according to Business Daily Af... |
Will ARM secure a firmer financial footing?17 November 2017, Published under Cement NewsThe increasing trend of African sector mergers reflects the tightening economic pressures on African cement producers and their challenging prospects going forward. In the past week, ICR has reported on the merger between Unicem and Atlas Cement in Nigeria as well as CRH's interest in acquiring PPC Cement of South Africa. Meanwhile, the Kenyan and Tanzanian markets could also see a change in structure with ARM looking for new investors to stave off becoming the latest takeover target. ... |
Consortium applies to build 1Mta grinding unit in Athi River13 November 2017, Published under Cement NewsA consortium of local quarry operators and institutional investors are planning to establish a KES5bn (US$48.3m) cement plant in Athi River, Kenya. Global Choice Ltd will build a 1Mta grinding unit at the location. Roller press technology will be used to produce 3000tpd of cement. Clinker for the plan will be imported and transported via the standard gauge railway while pozzolana and gypsum will be locally sourced, creating new revenues for the quarry operators. The company is currently... |
East African Portland Cement reports KES1.4bn loss08 November 2017, Published under Cement NewsEast African Portland Cement Co (EAPCC) saw its net profit of KES4.1bn (US$39.6m) for the year ended 2016 evaporate to record a KES1.4bn loss for the year ended 30 June 2017. Revenues at the Kenya-based cement producer fell 21.9 per cent YoY to KES6.93bn from KES8.87bn. Loss before tax in FY17 stands at KES1.71bn compared with a pretax profit of KES3.73bn in the year-ago period. |
Quantum Global exits Savannah Cement20 October 2017, Published under Cement NewsFollowing the receipt of regulatory approvals, Quantum Global Group has completed the sale of its stake in Savannah Cement. "We are delighted to have partnered with Savannah Cement in one of the critical industry sectors in East Africa, advancing together to aim to close the existing infrastructure gap in Africa. The exit from this investment is testament to the success of our approach of deploying capital in transformative sectors of key importance in Africa at the right time,’" said Qua... |
Egypt doubles value of cement exports in 9M1716 October 2017, Published under Cement NewsEgypt’s cement exports rose 88 per cent during the first nine months of 2017, reaching around US$72m compared to US$38m last year, its building industries export council said on Sunday. Ten countries have captured 89.3 per cent of the Egyptian cement exports, which Saudi Arabia came on the top of the list, the report said. Exports to Saudi Arabia reached 11.186 million compared to US$15.483m last year. Exports to the Kenyan market have soared 1127 per cent to record US$9.385m in nine m... |
Kenyan cement factories cut production back to 4.2Mt12 October 2017, Published under Cement NewsCement plants in Kenya have reduced production by seven per cent to 4.2Mt in the year to August, down from 4.5Mt. The cutbacks came amid decreases in cement consumption, data from Kenya National Bureau of Statistics (KNBS) shows. The deepest cut was experienced in August when Kenya held its general election, underlining the effects of election fever on the economy. The reduction came in response to a cooling demand after consumption dropped 6.4 per cent to 2.9Mt in the first half of... |
Bamburi Cement appoints new interim CEO06 October 2017, Published under Cement NewsBamburi Cement of Kenya has appointed chief financial officer Eric Kironde as its interim CEO following the departure of Bruno Pescheux. Pescheux stepped down from the role at the end of last month after a three-year stint in charge of Bamburi, opting to retire according to Chairman John Simba. "We would like to recognise the contribution of Bruno Pescheux and thank him for his leadership. We wish him a long and happy retirement," he said. The company will now look to Eric Kironde to ma... |
LafargeHolcim11 September 2017, Published under Cement NewsLafargeHolcim’s subsidiary Lafarge Malaysia has reported a first-half turnover decline of 18 per cent to MYR1090m (EUR214m/US$259.7m) and there was a net loss of MYR92.02m (EUR18.27m) compared with a MYR39.01m profit at this stage last year. According to the company, the deterioration in the result reflects a lower revenue contribution from the cement segment, higher charges for depreciation, fuel and electricity LafargeHolcim’s subsidiary Bamburi Cement in Kenya has announced a 1H turnov... |
Ndeta set to gain controlling stake in Savannah Cement06 September 2017, Published under Cement NewsBusinessman Benson Ndeta is set to take controlling stake of Kenya-based Savannah Cement after he gained regulatory approval for a deal that would increase his interest in the company by 29.4 per cent. In a press release, the Competition Authority of Kenya said it had granted Mr Ndeta’s acquisition of Savannah Cement unconditional approval, according to local press reports. Savannah Cement currently has two shareholders — Seruji with a 60 per cent stake and Savannah Heights with a 40 per ... |