Cement News tagged under: Kenya
East African import concerns03 September 2012, Published under Cement NewsThe East Africa Cement Producers Association (EAPC) has flagged concerns over the increasing threat of imports to the region. The associaion yesterday warned that cement ports are not being subjected to the same technical standards and regulations as domestic cement, increasing the chance of sub-standard products being used in projects. “Cement is a very sensitive commodity yet the quality issues on imports are not being addressed at such a time when the number of collapsing buildings ... |
Savannah Cement begins production, Kenya03 September 2012, Published under Cement NewsThe 1.5Mta Savannah Cement works has started production, becoming the newest entrant into the Kenyan cement market. The Athi River-based facility is a joint-venture by Kenyan and Chinese investors. Savannah Heights owns 40 per cent while Chinese Wan-Ho and Acme Wanji own 40 and 20 per cent respectively. Speaking to the The Standard, Benson Ndeta, Savannah Cement chairman, said: “We value our partnership with the Chinese investors as they are equipped with world recognised know-how on ... |
Bamburi first-half pretax profit falls, Kenya03 August 2012, Published under Cement NewsKenya’s leading cement producer Bambur Cement posted a 12.86 per cent fall in pretax profit for the first half of this year to KES3.7bn (US$43.89m), hurt by financing costs that exceeded revenue growth, the company said on Friday. The company, which is part of the Lafarge group, said turnover increased 17 per cent to KES19.2bn. "The regional cement market will continue to be vibrant. Focus will be on retaining the upward trend of revenue growth," Bamburi said in a statement, adding th... |
Athi River Mining pretax profit rises 24%25 July 2012, Published under Cement NewsKenya’s Athi River Mining posted a 24 per cent rise in first-half pretax profit thanks to increased cement sales. The country’s second-largest cement producer, behind Bamburi Cement, said pretax profit for the six months to June rose to KES790.96 (US$9.4m). The company is positive on its second-half outlook due to anticipated cut in interest rates, a stable shilling and good growth in infrastructure demand. It also expects its new 1.5Mta cement plant in Dar es Salaam, Tanzania to bo... |
Construction of Pokot plant delayed, Kenya12 July 2012, Published under Cement NewsConstruction of a new cement factory in Pokot, Kenya, which was set to be completed by the end of next year is experiencing delays and is now expected to take longer than expected. Kenyan newspaper, The Star, reported Rajesh Kumar Rawal of the Cemtech Sanghi Group – which is behind the 1.2Mta cement plant – as saying that the company has completed the planning stages and construction was scheduled to start this year. However, at present, no work is being carried out at the site. No furthe... |
Athi River Mining posts 17% first-quarter pretax profit15 May 2012, Published under Cement NewsKenya's Athi River Mining posted a 17 per cent rise in first-quarter net profit, helped by higher production and growing demand. Net income increased to KES258.2m (US$3.1m) in the three months through March, from KES220.2m a year earlier, the Nairobi-based company said in a statement. Revenue rose 61 per cent to KES2.74bn for the three months ended March. Its earnings per share rose to KES10.40 from KES8.90 in the same period of 2011. The company’s directors have proposed changing its name... |
Kenya: cement makers gamble on growing demand03 May 2012, Published under Cement NewsCement makers in Kenya are hoping demand from the housing sector, infrastructure and exports will sustain steady growth in consumption of the commodity in the local market. Despite reports of a slowing real estate sector, manufacturers say consumption of the cement increased in the 1Q12, driven by the other two segments. "This is driven mainly by three sectors: housing, infrastructure and exports. Overall consumption from these three sectors did increase in the first quarter," said Surend... |
Kenya: NSSF faces off with Lafarge over board seat at Bamburi24 April 2012, Published under Cement NewsNational Social Security Fund (NSSF) is set to open a fresh fight with French conglomerate Lafarge over the control of Bamburi Cement as it demands a seat on the cement maker’s board it lost last year. The cement firm – which is owned 58.4% by Lafarge – dropped NSSF representative Alex Kazongo from its board in March, citing his failure to attend successive meetings. Now, the fund has written to Bamburi Cement seeking a position in the board, but it says the company has told it to present ... |
East African Portland Cement shares reinstated, Kenya12 April 2012, Published under Cement NewsKenya's Capital Markets Authority has re-admitted shares of East African Portland Cement after a two-month suspension, saying doubts about the firm's ability to run its business had been quashed by continuous operations over the period. The shares had been suspended from trading on 17 January, to protect shareholders from a dispute between its board and the government, a 25 per cent shareholder that wanted to dissolve the board, citing an improper tender process for clinker. The High Court... |
Pokot Factory scheduled for completion at end-2013, Kenya10 April 2012, Published under Cement NewsA new 1.2Mta cement factory being constructed in the Pokot region of Kenya, will be completed within the next 15 months, Rajesh Kumar Rawal, director of the Cemtech Sanghi Group who is building the factory. Mr Rawal said the planning stages have been completed and the new plant is scheduled to be opened by the end of 2013. He said design of the plant, machinery and equipment was almost complete in India and China and will be shipped to Kenya in the coming months, AllAfrica news reports. ... |