Cement News tagged under: China

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Chinese firm invests in Zimbabwe

26 August 2016, Published under Cement News

Mortal Investments Manufacturing Co announced that it is constructing a 1Mta plant in Redcliff, Zimbabwe. The arrival of the Chinese firm in the country is expected to intensify competition in the market that has been dominated by Lafarge and PPC. Mortal Investments is the second producer to invest in the region, following the lead of Sino-Zimbabwe Cement. This is positive news for locals, as it will bring a further 400 jobs to a town that has been struggling with high levels of unemploym...

China: CNBM Group can begin acquisition of Sinoma

23 August 2016, Published under Cement News

China National Building Materials Group Corp (CNBM) has begun preparations to acquire China National Materials Corp (Sinoma), after an agreement between the two companies was approved by the government, the country's state assets regulator said. President Xi Jinping is determined to restructure the state sector to creating globally-competitive multinationals in a process of mergers, asset swaps and management reforms. The CNBM deal was given the go-ahead by the State Council, China's cabin...

China: Anhui Conch profits down 29% for 1H2016

23 August 2016, Published under Cement News

In its trading statement for the first six months of 2016, Anhui Conch has reported that its net revenues fell one per cent YoY to CNY24bn (US$3.6bn), while profits slipped further, falling by 28.8 per cent to CNY3.4bn (US$506m). The company noted that while Chinese demand for cement continued to grow in the first half of 2016, intense competition and overcapacity had had a negative effect on profits. However, a 13.7 per cent fall in costs - driven by lower prices for raw material, power,...

China: Taiwan Cement expects 2H16 pick up in demand

19 August 2016, Published under Cement News

Cement sales in China will pick up in the second half of the year, on the back of a recovering demand from infrastructure projects and residential building in the country, according to Taiwan Cement Corp. “We saw strong infrastructure spending in China supported cement demand in the first half, which is expected to continue growing for the rest of the year,” Taiwan Cement Senior Vice President, Edward Huang, told an investors’ conference in Taipei. In the first half of this year, the com...

India: reason for optimism?

17 August 2016, Published under Cement News

The first quarter of 2016 provided some basis for optimism for India’s cement producers as the sector reported double-digit expansion. However, in the months ahead, the monsoon season and the perennial overcapacity of the industry continue to haunt profitability. The amendment of The Mines and Minerals (Development and Regulation) Act is expected to facilitate M&A in the cement sector The first quarter of 2016 has seen India’s cement industry make a positive start to the year...

Sino-Uzbek JV brings Karakalpakstan plant online

11 August 2016, Published under Cement News

Uzbek-Chinese joint venture, Titan Cement, recently brought its new plant in Karakalpakstan, Uzbekistan, into operation. The total cost of the project exceeded US$25m and resulted in the creation of more than 200 jobs. Initially the Chinese faction of the joint venture intended the project to have a capacity of no more than 60,000tpa, but following the discovery that there was a raised demand for high-quality, inexpensive cement in the region, plant capacity was increased more than three...

Pakistan: CPEC to generate 3Mta demand

09 August 2016, Published under Cement News

Pakistan’s cement industry will experience growth thanks to the commencement of construction projects under the China-Pakistan Economic Corridor (CPEC).  Experts have suggested that the projects will generate an additional cement demand of between 1.5-3Mta for Pakistan. In the first half of this financial year, local dispatches showed a growth of 16 per cent YoY to 15.2Mt. Local dispatches are expected to grow a further 15 per cent YoY in the second half of the financial year, reaching...

LafargeHolcim announce further Chinese sales

04 August 2016, Published under Cement News

LafargeHolcim has, for the second time in a week, announced that it is to sell some of its Chinese assets. Reuters reports that the company is to sell 13 integrated plants and four grinding stations for CHF208m (US$215m). The assets – currently operated by Lafarge China Cement – are to be purchased by Huaxin Cement, in which LafargeHolcim itself has a 41.8 per cent shareholding. Commenting on the sale, LafargeHolcim CEO Eric Olsen said: "Following our announcement earlier this week to ...

Pakistan: Gharibwal Cement industrial park

04 August 2016, Published under Cement News

Gharibwal Cement Group and China International Trust and Investment Corporation (CITC) have signed a deal to set up an industrial park in Chunian Industrial Estate, Punjab. Chinese investors will establish factories in the 2000 acre industrial park. The project is expected to cost PKR20bn (US$191m). An official of Gharibwal Cement told CemNet that it is a partner in the project and will supply the cement.

Nigeria: Ashaka Cement signs NGN11bn coal power agreement

26 July 2016, Published under Cement News

Ashaka Cement plc has signed a NGN11bn (US$35m) contract with China-based RUNH Power Corp Ltd for the construction of a 16MW lignite-fired coal power plant at its cement plant in Gombe State, Nigeria.  The power plant will be operated by firing coal from Ashaka Cement-owned local coal mine reserves located in Maigana, 140km distance from the cement works. Scheduled for completion in 2018, the facility would enable the cement plant to reduce its reliance on the national grid and diesel-...