Cement News tagged under: Weekly Newsletter
CEMEX upgraded by Fitch Ratings02 May 2024, Published under Cement NewsCEMEX has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows S&P Global Ratings’ upgrade announced in March 2024. “Achieving investment grade is a milestone for CEMEX,” said Fernando A González, CEO of CEMEX. “This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our... |
Uzbekistan sees opening of new 2.5Mta cement plant30 April 2024, Published under Cement NewsThe opening ceremony of a new 2.5Mta cement plant took place in the Andijan region of Uzbekistan, according to Trend. China-based Conch International Holdings Ltd and Zhejiang Shanfeng Building Materials Co Ltd invested US$250m in the Andijan Conch project near the border with Kyrgyzstan. Uzbek cement production reached 15.5Mt in 2023. In January 2024 the sector supplied an output of 627,900t, more than doubling the production of January 2023. |
EU ETS 2023 emissions down 16% YoY amid record global emissions – prices rise to about EUR6029 April 2024, Published under Cement NewsBy Frank O. Brannvoll, Brannvoll ApS, Denmark In 2023 EU verified emissions showed a 15.5 per cent fall from 2022, based on a 24 per cent drop in power generation emissions due to lower demand. Energy intensive industries emitted seven per cent less YoY as a result of reduced production. The aviation sector increased its emissions 10 per cent YoY as the industry recovered from the COVID-19 impact. The total number of emissions fell from 1.3bnt to 1.1bnt in line with forecasts and did not ... |
Adbri is granted US$32.5m for upgrade at Birkenhead plant26 April 2024, Published under Cement NewsThe Adelaide-based cement manufacturer, Adbri , has been granted US$32.5m by the Australian federal government. The grant will finance a new front-end engineering and design (FEED) study at the company’s Birkenhead cement plant. The aim of the study is to assess the possible addition of a new vertical roller mill and post-production blending system math the site. The proposed upgrade is expected to diversify the plant’s portfolio of low-carbon cements. The funding comes under th... |
Titan receives DoE funding for calcined clay project25 April 2024, Published under Cement NewsTitan America 's Roanoke plant in Virginia is to receive funding for its first-of-a-kind calcined clay production line. The US$61.7m award has been granted by the US Department of Energy (DoE) to support the innovative technology that aims to substantially reduce CO 2 emissions. According to Titan, the funding underscores the company’s dedication to reducing CO 2 emissions throughout the organisation, aligning closely with its ambitious goal of achieving net-zero concrete by 2050. Th... |
Cement Australia to receive AUD52.9m in government funding25 April 2024, Published under Cement NewsCement Australia ’s kiln facility in Railton, Tasmania, is due to receive AUD52.9m (US$34.4m) in funding from the country’s federal government. The kiln upgrade will allow the Railton plant to begin using biomass instead of coal, when it produces clinker and cement, as part of a federal initiative to help reduce companies’ carbon emissions. Once operational, the kiln upgrade in Railton will generate 10 new permanent jobs and as many as 230 temporary positions, according to Australia... |
Mastek to optimise Yanbu Cement's new production line24 April 2024, Published under Cement NewsMastek announced that it has won the multi-tower deal from Yanbu Cement Co (YCC) to optimise the efficiency of YCC's production line. YCC is investing in a digital and cloud modernisation with Mastek, aligning with Saudi Arabia's Vision 2030 and Smart Industry 4.0 initiatives. Following the execution of multiple back office and Enterprise Resource Planning (ERP) transformation programs in the first phase initiated in 2022, Mastek will kick-off the second phase, focussing on automating YCC... |
Holcim breaks ground on Lägerdorf climate-neutral plant23 April 2024, Published under Cement NewsHolcim (Deutschland) AG held a ground-breaking ceremony on 22 April for its climate-neutral cement plant in the Steinburg district of Lägerdorf, Germany. The ceremony was attended by around 350 guests, including Schleswig-Holstein's Prime Minister Daniel Günther (CDU) and Federal Economics Minister Robert Habeck (Greens). Holcim will build a second production line next to the existing one in Lägerdorf with oxyfuel-based carbon capture. Output from the carbon capture facility will be us... |
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 ... |
DG Khan Cement posts 6% YoY profit growth in 9MFY2423 April 2024, Published under Cement NewsDG Khan Cement Co Ltd (DGKC) announced its financial results for the 9MFY24 and 3QFY24 on the Pakistan Stock Exchange (PSX) website on 19 April. It posted a profit after tax (PAT) of PKR2.23bn (US$8.25m) compared to PKR2.11bn in the same period last year, up by six per cent YoY. However, during the 3QFY24 (January-March 2024), earnings remained consistent at PKR1.18bn. A cursory review of results from AHL Research depicts that the topline in the 9MFY24 arrived at PKR49.05bn, showing an... |