Cement News tagged under: Athi River Mining
Kenya: cement makers gamble on growing demand03 May 2012, Published under Cement NewsCement makers in Kenya are hoping demand from the housing sector, infrastructure and exports will sustain steady growth in consumption of the commodity in the local market. Despite reports of a slowing real estate sector, manufacturers say consumption of the cement increased in the 1Q12, driven by the other two segments. "This is driven mainly by three sectors: housing, infrastructure and exports. Overall consumption from these three sectors did increase in the first quarter," said Surend... |
Athi River Mining: East Africa expansion02 April 2012, Published under Cement NewsKenya-based cement producer Athi River Mining (ARM) earlier this week reported a significant rise in 2011 cement sales on the back of new domestic cement capacity. The company is now nearing completion of the first of three projects in the Tanzanian market and has secured additional funds for expansion as it seeks to harness increasing demand in the promising East Africa region. I n 2011, group turnover rose 37% YoY to KES8.2bn (US$99m) as cement sales increased 72%. This was helped by “t... |
Athi River pretax profit rises, Kenya28 March 2012, Published under Cement NewsKenya-based firm, Athi River Mining, posted a 23 per cent rise in 2011 pretax profit to KES1.36bn (US$16.4m), the company said while net profit came in at KES1150m. Turnover rose 37 per cent to KES8.2bn while cement sales increased 72 per cent helped by the commissioning of new capacities which came on-stream in late 2010. EBITDA rose 31 per cent from KES1.6bn in 2010 to KES2.2bn last year but operating margins were down two per cent in 2011 mainly due to the “rapid increases in cost of... |
Government reverses decision on Athi River plant closure, Kenya21 March 2012, Published under Cement NewsKenya’s National Environment Protection Agency has retracted its order to shut down Athi River Mining’s plant, company chief executive Pradeep Paunrana, has said. Last week, Mr Paunrana told Reuter’s that the company expected sales and profit to rise this year, provided it resolved the dispute with the environment agency. Mr Paunrana said the company had submitted a plan of action to comply with the issues raised by the environment agency, which led the agency to withdraw its order. "We ... |
Athi River calls for Kaloleni reopening, Kenya16 March 2012, Published under Cement NewsAthi River Mining has appealed to the National Environment Management Authority (Nema) to re-open its factory at Kaloleni in Kilifi County, saying they have met all the conditions the environmental body set. According to reports by the Standard, Athi River Managing Director Pradeed Paunrana, said they had fulfilled the nine demands set by Nema. "We are in fully compliance with the Nema order and should be allowed to operate," he said. Mr Paunrana said all land deals at the plant wer... |