HeidelbergCement buys 50% share in CBI

HeidelbergCement buys 50% share in CBI
20 May 2022

HeidelbergCement has signed an agreement to acquire 50 per cent of shares of and invest into Continental Blue Investment SA (CBI) who controls the Ghanaian cement producer CBI Ghana.  

With this step, the HeidelbergCement will take part in the construction of the world’s largest flash calciner. In addition, HeidelbergCement will strengthen its presence in Ghana through CBI’s cement grinding operations. The joint venture partners are committed to exploring additional calcined clay projects in west Africa.

Dr Dominik von Achten, chairman of the Managing Board of HeidelbergCement, says: “Through the joint venture we reinforce two major pillars of our 'Beyond 2020' strategy: strengthening our position in a promising emerging market while at the same time reducing CO2 emissions to a large extent. Calcined clay is a very favourable raw material for West African countries without major limestone reserves to become less dependent on clinker imports.” 

Hakan Gurdal, member of the Managing Board of HeidelbergCement, adds: “Characterised by high sustained market growth rates, Ghana is one of HeidelbergCement’s core markets in Africa. The new flash calciner in Ghana will be the largest worldwide with a capacity of more than 400,000t of calcined clay per year. Start of production is planned for 2024. We are committed to lowering our CO2 footprint also in emerging markets.”  

Ghacem, HeidelbergCement’s Ghanaian subsidiary, is the leading cement producer in the country. The existing 0.6Mta grinding unit of CBI Ghana is located in Tema and will be more than double its capacity through the expansion. 

Published under Cement News