Cement News tagged under: West Africa
Côte d’Ivoire amends cement standards to include dolomite23 January 2023, Published under Cement NewsIn Côte d’Ivoire the government has modified cement production standards to include dolomite. It will enable cement producers to reduce the cost of manufacturing cement. Currently limestone is imported from Asia and Europe, which has become very expensive, according to government spokesperson Amadou Coulibaly. Dolomite, which is imported from Ghana and Togo, is a more accessible substitute and expected to reduce manufacturing costs by 5-10 per cent. While the country at present has no pr... |
Dangote Cement appoints new CEO20 January 2023, Published under Cement NewsDangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace Frenchman Michel Puchercos, who will leave his position at the end of February after three years at as CEO. Arvind Pathak starts in his new position from 1 March. Mr Pathak led India’s Birla Corp, a cement producer, before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co L... |
Dangote Cement receives CDP rating upgrade16 December 2022, Published under Cement NewsDangote Cement Plc has had its CDP rating raised from B- to B in recognition of the cement producer’s commitment to climate change. The rating upgrade indicates that Dangote Cement has addressed the environmental impact of its business and ensures good environmental management. This upgrade demonstrates the continued efforts made by the company to increase its levels of non-financial disclosure and improve its sustainability reporting, said Dangote Cement in a statement. This year, for... |
SOCOCIM Industries to arrange IFC loan for Kiln 6 project12 December 2022, Published under Cement NewsSenegal-based SOCOCIM Industries (VICAT group) is organising a debt facility with the International Finance Corporation (IFC) to construct a high fuel-efficient Kiln 6. The total project cost is expected to be up to EUR260m. IFC’s financing consists of up to EUR120m IFC A-loan and up to EUR120m equivalent in parallel loans. The investment includes the equipment for a complete clinker line , quarry crusher and associated conveyors, pre-stocking hall, raw grinder, fuel preparation works... |
Dangote Cement Senegal incinerates narcotics worth US$40m09 December 2022, Published under Cement NewsDangote Cement Senegal incinerated 300kg of cocaine at its Pout cement plant at the request of the defence and security forces on 3 December 2022. The governor of the Thiès region, Alioune Badara Mbengue, presided over the incineration ceremony of the drugs which were valued at CFA25bn (US$40.1m). The narcotics were seized on 29 October in Kidira (Senegal-Mali border) by Senegalese customs. The operation, which took place under heavy police protection, ended at 11:30am, follow... |
Dangote wins three FMDQ awards24 November 2022, Published under Cement NewsDangote Industries Ltd and Dangote Cement Plc have picked up three accolades at the FMDQ Gold Awards - ‘Largest Corporate Bond Lodgment on FMDG’, ’Most Trusted Brand of the Year’ and ‘Most Outstanding Conglomerate in Environmental Sustainability.’ According to FMDQ, the awards recognise excellence in the fixed incomes, currencies and derivatives markets. They also recognise resilience and agility of the Nigerian financial markets participants and acknowledge the valuable efforts of the ... |
Foundation stone laid for Ciment Sahel Mali SA24 November 2022, Published under Cement NewsMahamoud Ould Mohamed, the Minister of Industry and Trade, laid the foundation stone for the new Ciment Sahel Mali SA cement plant, on 24 November 2022. Construction of the factory at Béma, Diéma, Nioro du Sahel, Kayes region of western Mali, will take 30 months from January 2023, according the the project sponsor, El Hadji Mohamed Sacko, CEO of Groupe Sacko Holding SA. Capacity of the plant has been reported at 4Mta. The new plant is financed via a CFA388bn (USD500m) investment suppor... |
Court halts production at Empire Cement23 November 2022, Published under Cement NewsThe Accra High Court in Ghana has put an injunction in place preventing Empire Cement from continuing cement production at its plant in McCarthy Hill or in any other location. According to the court, the injunction will remain in place until a lawsuit by the McCarthy Hill Residents Association is finalised. Justice Boampong announced the ruling after he upheld an interlocutory application by the association, reports Graphic Online, adding that Empire Cement could not prove that it had t... |
Dangote sees revenue advance 15% YoY in 9M2201 November 2022, Published under Cement NewsDangote Cement has reported group revenue of NGN1177.3bn (US$2.68bn) in the first nine months of 2022, up 15.2 per cent YoY. Group EBITDA over the same period advanced by 0.2 per cent to NGN515.9bn, with an EBITDA margin of 43.8 per cent. Profit after tax fell 23.4 per cent YoY to NGN213.1bn, mainly due to exchange losses from the depreciation in the CFA and cede. Group sales volumes in the 9M22 came in at 20.8Mt, down 6.2 per cent YoY. “To mitigate the impact of significant increase in ... |
Lafarge Africa posts 23% rise in revenue in 9M2201 November 2022, Published under Cement NewsNigeria-based Lafarge Africa has seen its net income expand by 11.2 per cent YoY to NGN44.9bn (US$102.1m) in the opening nine months of 2022. This compares to NGN40.39bn in the same period a year earlier, according to The Day Live. Revenue over the same period advanced by 23.1 per cent to NGN269.85bn, versus NGN219.2bn in the 9M21. Revenue from cement sales alone came in at NGN261.4bn during the nine-month period this year, up 22.4 per cent on the same period in 2021. Sales from aggrega... |