Cement News tagged under: CAPEX

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Semen Indonesia

24 August 2015, Published under Cement News

A sharp drop in net profit in the first half of this year has prompted Semen Indonesia to review its expansion plans going forward. Net profit over the six months came in at IDR2.2trn (US$163.3m), compared to IDR2.8trn in 1H14, representing a contraction of around 20 per cent. Revenue also fell by 1.9 per cent to IDR12.64trn. The disappointing results have been blamed on a number of challenges, not least of all a 10 per cent lowering of cement prices at the start of the year in response to...

Semen Indonesia outlines 2015 capex plans

07 January 2015, Published under Cement News

PT Semen Indonesia Tbk has prepared capital expenditures worth IDR7-9trn (US$550m-706m), to fund new plants, upgrades and possibly further international expansion. Of the total, around IDR5trn would be invested in the new plants in Rembang, Central Java, and Indarung, West Sumatra, the company’s finance director Ahyanizzaman told the Jakarta Post.  The new plant in Indarung was expected to start operating in the first half of next year, while the plant in Rembang was expected to begin oper...

Holcim: 2015 expected to be "solid year"

18 November 2014, Published under Cement News

Holcim expects 2015 to be a “solid year” for the group as it aims to achieve substantial improvement of its results. In a statement released ahead of today's Holcim Investor and Analyst Day 2014, the Swiss cement major said it anticipates 2015 like-for-like operating profit (excluding merger-related costs) to be in the range of CHF2.7-2.9bn (EUR2.2-2.4bn/US$2.8-3bn). Group companies in India, Indonesia, the USA, Mexico and the UK are being seen as the main growth drivers. The company ...

Dangote Cement to reduce capex next year

07 November 2014, Published under Cement News

Dangote Cement expects to slow its capital spending next year to around US$700m, as it completes most of its African expansion projects, its chief executive told Reuters on Wednesday. Edwin Devakumar said Africa's biggest cement operation budgeted to spend around US$1.4bn this year, as it ramps up its cement works from Senegal to Zambia. "This year we may end up with a capex of close to US$1.4bn though we expect it to come down next year to around US$700m," Mr Devakumar told the news agenc...

SCG earmarks new five-year investment budget

27 October 2014, Published under Cement News

Siam Cement Group (SCG) has earmarked THB200-250bn for a new five-year investment budget starting next year, the Bangkok Post reports. Chief executive and president Kan Trakulhoon added that the company is eyeing investment in a tech company that could complement SCG's core businesses. "The company we're talking with at the moment is a technology company in Europe," Mr Kan said. The focus will be technology related to core businesses such as material sciences, paper and petrochemicals.

Indocement outlines 2014 capex

14 May 2014, Published under Cement News

PT Indocement Tunggal Prakarsa, part of the HeidelbergCement Group, plans to spend between IDR4.5trn (US$390.07m) and IDR5trn in capital expenditure this year, up from last year's IDR2.1trn, Reuters cited company Finance Director Tju Lee Sukanto as saying. Indonesia’s second-largest cement producer commissioned an additional 1.9Mta of grinding capacity during the first quarter of this year. A further 4.4Mta will come on-stream in 2015, with two 2.5Mta greenfield works being planned for 20...

China Shanshui seeks to refinance debt and trim 2014 capex

28 March 2014, Published under Cement News

China Shanshui Cement is seeking to refinance debt and cut capital expenditure by half this year after earnings fell for a second year, according to CreditSights Inc. The cement maker, which had CNY6.9bn (US$1.1bn) of short-term debt including loans and corporate bonds at the end of last year, plans to use proceeds from a newly issued domestic medium-term note to repay CNY900m due today. Management is still considering how to refinance a CNY1.5bn bond which matures in July. Shanshui Ce...

Indocement sets 2014 capex spend, Indonesia

29 November 2013, Published under Cement News

PT Indocement Tunggal Prakarsa, part of the HeidelbergCement Group, plans IDR4-5trn in capex next year, mostly geared towards boosting the company's production. "Most of it will be used to finance the ongoing construction of our brownfield plant in Citeureup [Bogor, West Java]," Sukanto told a news conference on Thursday. Funds will be sourced from internal cash. The brownfield works will have a capacity of 4.4Mta  China-based Tianjin Cement Industry Design and Research Institute will...

Semen Indonesia sets 2014 capex target at IDR6trn

28 November 2013, Published under Cement News

PT Semen Indonesia said it requires IDR6trn (US$508m) capital expenditure for expansion in 2014, the company’s president director has said. Speaking to local media, Dwi Soetjipto, said Indonesia's largest cement producer had between IDR4trn-5trn. “The available capex currently does not include expansion plans in Myanmar and Bangladesh. To do that, we need a total of IDR6trn,” Dwi Soetjipto, said as quoted by Kontan.co.id. Soetjipto added that Indonesia's largest cement producer currentl...

Semen Baturaja raises investment spend

20 September 2013, Published under Cement News

Semen Baturaja is having to increase investment for its new cement plant in South Sumatra to IDR2.9m (US$253m) from the original IDR2.6trn as the weaker rupiah has raised the cost of imported equipment. “According to our assessments, there will be additional costs of between IDR200bn-300bn due to exchange rate changes, as we have to import machines, Zulfikri Subli, corporate secretary of Semen Baturaja, told the Jakarta Globe. Mr Subli said equipment accounts for between 40-50 per cent of ...