Cement News tagged: International

Rebound expected in Thailand after lacklustre 2023 

03 April 2024, Published under Cement News

Thai domestic cement sales, excluding clinker, came in at 3.74Mt in December 2023, up 28.1 per cent MoM and 25.5 per cent YoY, according to Thailand’s Office of Industrial Economics (OIE). For 2023 as a whole, domestic cement sales amounted 38.12Mt, down 1.4 per cent YoY from 38.65Mt a year earlier. “Sales volume shrank due to the rising cost of living. As a result, consumers' purchasing power...

Pakistan hopes to resume cement and other trade with India

01 April 2024, Published under Cement News

Two federal ministers of Pakistan, Foreign Minister, Ishaq Dar, and Minister for Maritime Affairs, Qaiser Ahmed Sheikh, have shown intention to resume trade with India, which has been halted since August 2019 following India’s revocation of the special status for Jammu and Kashmir. Both ministers viewed that business people wanted the resumption of trade, but this required further talks and ap...

Afghanistan in talks over new cement plant

28 March 2024, Published under Cement News

Turkey-based construction company 77 INSAAT has reportedly expressed an interest in setting up a cement plant in Jawzjan province in the north of Afghanistan, close to the border with Turkmenistan. According to Ariana News, 77 met with Shahabuddin Delawar, the acting minister of mining and petroleum in Afghanistan, to discuss the possibility of a new cement production facility in the Yatim Taq...

US pledges US$1.2bn in funding for PCA decarbonisation projects

27 March 2024, Published under Cement News

The US Energy Department has announced more than US$1.2bn in federal funding for four decarbonisation projects in the US cement industry. In total, the energy department has pledged US$6bn in funding for 33 industrial projects designed to reduce carbon emissions across not only the cement industry but also iron and steel, concrete, aluminium, chemicals, food and beverages, and pulp and paper, ...

Kuwait Cement reports a 59% fall in quarterly profit

Kuwait Cement reports a 59% fall in quarterly profit

22 March 2024, Published under Cement News

Kuwait Cement Co KSC has reported a 59.3 per cent drop in quarterly net profit from KWD2.7m (US$8.8m) to KWD1.1m between January 1 to 31 March 2024.  The company's quarterly operating revenue fell 10.6 per cent to KWD18.5m, compared to KWD20.7m in the same quarter of 2023.

TUSDEC initiates global chain study

22 March 2024, Published under Cement News

Technology Upgradation and Skill Development Co (TUSDEC), established by Pakistan's Ministry of Industries and Production, has announced that it is working to upgrade the technology and skills of key and strategic industrial clusters to connect Pakistan to the global value chain. TUSDEC is implementing the “National Strategic Programme for Acquisition of Industrial Technology (NSPAIT)” project...

Peru's cement market contracts 2% in February

Peru's cement market contracts 2% in February

22 March 2024, Published under Cement News

Peruvian cement dispatches slipped by two per cent YoY to 0.89Mt in February 2024 when compared with the previous year’s equivalent period, said the country’s cement association, ASOCEM. Of this total, the association’s members supplied 0.815Mt, down from 0.856Mt in February 2023. Cement production in Peru fell five per cent YoY to 0.818Mt in February 2023 while clinker output was down 17 pe...

Indian fair trade regulator approves UltraTech’s acquisition of Kesoram cement business

21 March 2024, Published under Cement News

The Completion Commission of India (CCI) has approved UltraTech Cement ’s proposed acquisition of Kesoram Cement Business , the cement arm of Indian conglomerate Kesoram Industries Ltd . The business is set to be acquired by Mumbai-based UltraTech, as part of a deal made on 30 November 2023. The all-share deal will see UltraTech Cement purchase Kesoram Cement at a valuation of INR76bn (U...

Indian cement demand growth to decline in 4QFY23-24

20 March 2024, Published under Cement News

India is expected to see a fall in cement demand growth in the final quarter of the current fiscal year (January-March 2024), due to a slowdown in construction activity, adverse weather conditions and uncertainty in the run-up to the elections being held in April and May. According to Business World India, an increase in supply along with more intense competition has also had an adverse imp...

West China Cement Ltd announces a 65% drop in net profit

20 March 2024, Published under Cement News

West China Cement Ltd has reported a 65.3 per cent decrease in its net income from CNY1214.8m (US$168.7m) in 2022 to CNY421.3m in 2023. This came as sales revenue rose slightly by 6.3 per cent rise in sales revenue, from CNY8489.1m to CNY9,020.9m, over the period. As a result, the company’s earnings per ordinary share fell to CNY0.077, down 65.6 per cent from CNY0.224 the year before.  ...

Southern Province Cement Co releases its 2023 financial results

19 March 2024, Published under Cement News

Southern Province Cement Co , based in Saudi Arabia, has announced its financial results for the period ended 31 December 2023. The company recorded a drop in revenues of 12.4 per cent, from SAR1.2bn (US$320m) to SAR1.07bn over the year. Consequently, net profits plummeted 35.2 per cent from SAR301m to SAR195m. After tax and zakat, the company made SAR121m, which decreased by 49.2 per cent fr...

Spanish cement demand falls 1.5% in February

18 March 2024, Published under Cement News

Cement consumption in Spain fell 1.5 per cent in February, compared to the same month in the previous year. According to Oficemen, demand in February stood at 1,157,811t, marking a 17,769t contraction versus February 2023. This marks the ninth month in a row that cement demand in Spain has declined.  The cumulative figure for the year to date sees consumption down 2.4 per cent YoY, or 53,...

Fremantle Port inflates new clinker dome

15 March 2024, Published under Cement News

Fremantle Ports has inflated a 40m-high cement clinker dome at its Kwinana Bulk Terminal in the Outer Harbour, marking the first time such a structure has been installed in Western Australia. Taking 24 hours to inflate, the giant white dome is the second of its type in Australia and is integral to Fremantle Ports’ new import circuit facility which will streamline the importation of clinker. ...

Holcim Mexico appoints Jorge Gonzalez as CFO

15 March 2024, Published under Cement News

Jorge Gonzalez has been named as the new CFO of Holcim Mexico , the Mexican division of one of the largest global producers of building materials. This move, by the company, is reportedly aimed at strengthening their position as an industry leader in sustainable construction materials.  The new CFO says, “I am excited to take on this new challenge at a key moment for Holcim Mexico, in whic...

CEMEX Croatia awarded contracts for three solar power plant projects

20 March 2024, Published under Cement News

CEMEX Croatia has been awarded EUR5m (US$5.5m) in contracts for the construction of three solar power plants, co-funded by The Environmental Protection and Energy Efficiency Fund and the EU Modernisation Fund. The project will see solar energy production facilities built at Juraj cement plant in Kaštel Sućurac, Kajo cement plant in Solin and the Podsused facility in Zagreb. Approximately...

Cement sales in Brazil up 4% in February

15 March 2024, Published under Cement News

The Brazilian cement market expanded by 4.2 per cent YoY to 4.615Mt in February 2024 from 4.429Mt in February 2023, reports the country’s cement association, SNIC. Looking at sales per working day – the number of days worked has a strong influence on cement consumption – sales slipped 0.9 per cent YoY in February to 0.22Mt from 0.222Mt a year earlier. The key drivers to the uptick in sal...