Cement News tagged under: West Africa
Dangote Cement's revenue rises 17% to NGN808bn in 1H2202 August 2022, Published under Cement NewsDangote Cement reported group revenue of NGN808bn (US$1.942bn) in the 1H22, a rise of 17 per cent YoY. Group EBITDA rose by 6.3 per cent to NGN373.2bn and profit after tax fell 10.2 per cent to NGN172.1bn. Group sales volumes totalled 14.2Mt, down seven per cent. Nigerian volumes fell 5.3 per cent to 9.3Mt in the 1H22. Net debt stood at NGN423bn with a net gearing of 54.5 per cent. “Although significant increase in energy and AGO costs are impacting production, we are strengtheni... |
BUA to expand Kalambaina plant27 July 2022, Published under Cement NewsBUA Cement is reportedly in talks with the International Finance Corporation (IFC) over a loan to expand its integrated cement plant in Kalambaina, Sokoto State, Nigeria. According to Reuters, the company is looking to increase the plant's cement production capacity from 2Mta to 8Mta. |
BUA approves dividend and sets 2023 deadline for current expansion projects26 July 2022, Published under Cement NewsBUA Cement Plc shareholders have approved dividends of NGN88.047bn (US$96.3m) for the financial year ended 31 December 2021 at NGN2.60k per ordinary share of 50k each. This approval was given during the company’s 6th Annual General Meeting held in Abuja and comes on the back of a strong financial performance in the year under review, which recorded revenue growth of 22.9 per cent from NGN209.4bn in 2020 to NGN257.3bn in 2021. Profits after tax also rose by 24.5 per cent YoY to NGN90.1bn in... |
Dangote Cement partners with UNEP18 July 2022, Published under Cement NewsDangote Cement has formed a partnership with the United Nations Environment Programme, the National Environmental Standards and the Regulations Enforcement Agency as part of its initiatives to promote environmental sustainability. The announcement comes as the company commemorates World Environment Day 2022 at all 14 of its production plants across Nigeria and the rest of Africa, reports The Punch. According to Dr Igazeuma Okoroba, head of sustainability at Dangote Cement, "World Enviro... |
Mangal Industries Ltd performs plant groundbreaking ceremony18 July 2022, Published under Cement NewsMangal Industries Ltd has performed the groundbreaking ceremony of a greenfield cement plant in Iluagba, Kogi State, Nigeria. Mangal Industries had signed a US$600m deal with Sinoma International Engineering, of China, for the construction of a 3Mta cement plant and a 50MW captive power plant in Kogi State. Mangal Industries Ltd's Managing Director, Engr Fahad Mangal said shortly after the ceremony that the project is expected to be completed by the end of the 1Q24. According to him... |
Burundi: Dangote's next stop?12 July 2022, Published under Cement NewsDangote Cement Zambia’s CEO, Vipul Agrawal, has assured the Burundi government that its company will not only help to address the scarcity of cement in the country in the short term but also find a long-term solution. Burundi has large limestone, magnesium oxide and silica deposits in the northwest. As a result, the government has invited Dangote to build a cement plant in the country. The government requested Dangote to work out the modalities for the supply of construction materials an... |
Bagged cement price sees 22% rise in Côte d’Ivoire28 June 2022, Published under Cement NewsThe price of bagged cement in Niakara, Côte d’Ivoire, has increased by 22% to XOF110,000/t (US$177.53/t) from XOF90,000/t reported Agence Ivoirienne de Presse. "From now on, we are selling the 50kg bag of cement at XOF5500 against XOF4500, the usual price, so we make the tonne of cement at XOF110,000 and not at XOF90,000 as before," according to one manager of a hardware store in Niakara. He added that the suppliers attributed the price increase to the Russia-Ukraine war. |
Benin government caps cement price20 June 2022, Published under Cement NewsThe government of Benin has set a price cap on the price of cement with the new price ceiling dependent on the locality. The price is capped from 17 June 2022 for four months. The government has taken the step “in support of populations faced with soaring prices of consumer products” and during the four-month period the Ministry of Commerce will carry out “strict controls and regular prices.” |
Ghana sees cement price rise16 June 2022, Published under Cement NewsThe price of a 50kg bag of cement in Ghana is to increase by more than GHS5 to reach GHS66 (US$8.30) from 15 June 2022. According to JoyBusiness, the country’s cement producers are hoping this will offset some of the costs of transporting the cement to other parts of Ghana. This comes on the back of a rise in production costs due not only to the increase in fuel prices affecting transportation costs, but also a recent depreciation of the Ghanaian Cedi. These challenges have been further c... |
Foundation stone laid for Cimenterie Atlas02 June 2022, Published under Cement NewsColonel Assimi Goïta, interim president and the current head of state for Mali, laid the foundation stone for Cimenterie Atlas, a new grinding plant at Dio Gare, Koulikoro region, Mali on 2 June 2022. It is hoped that the 0.8Mta grinding station will help Mali become self sufficient in cement, as well as create 150 permanent new jobs, according to M Papa Oumar Samake, CEO of Atlas. Construction of the XOF50bn (US$50m) plant, which is entirely financed by Malian principals with loans from... |