Cement News tagged under: China
Arabian Cement to penalise CNBM on Rabigh project26 February 2024, Published under Cement NewsArabian Cement Co has confirmed that it will impose a delay damage penalty of five per cent on CNBM International Engineering Co for the Saudi cement producer’s new mills at its Rabigh plant. According to Zawya, the cement manufacturer first awarded the SAR362m (US$96.5m) engineering, procurement and construction (EPC) contract to CNBM in April 2015. Although the new cement mills are now completed, the project has been delayed due to discussions between CNBM and Sinoma Overseas Devel... |
China Cement Association and GCCA sign low-carbon future agreement02 February 2024, Published under Cement NewsThe two leading representative bodies of the global cement industry have signed a milestone agreement to help accelerate decarbonisation of the sector across the world. China Cement Association (CCA), which represents more than 50 per cent of the world’s cement production and the Global Cement and Concrete Association (GCCA), whose members account for 80 per cent of cement production capacity outside of China, have signed a historic partnership pledge. The pledge includes an agreement to wor... |
Sinoma wins Eastern Province Cement contract09 January 2024, Published under Cement NewsSaudi Arabia-based Eastern Province Cement Co has awarded the contract for a new cement production line to China’s Sinoma CDI. The new line, which is costing US$270m, will have a production capacity of 10,000tpd and will be located at Eastern Province’s existing site in Khursaniyah. According to Mist News, the contract covers design, supply, delivery, construction, and installation of the cement production line on the basis of a complete turnkey contract for engineering, supply, con... |
Sika opens new technology centre in China19 December 2023, Published under Cement NewsSika has significantly expanded its research and development capacities in the Asia/Pacific region and opened a new, state-of-the-art technology centre in Suzhou, China. According to the company, although the facilities at the new Technology Center comprise cutting-edge laboratories for the development of adhesives and sealants, research infrastructure has also been established for concrete admixtures and CO 2 reducing cement technologies. The centre will also focus on research into mate... |
CNBM issues 9M23 profit warning18 October 2023, Published under Cement NewsChina National Building Material (CNBM) has issued a profit warning for the opening nine months of 2023. According to Reuters, the company expects to report a 70 per cent YoY contraction in profits over the nine-month period. The decline has been blamed on falling cement prices. |
Malaysian cement demand set to flourish, says report11 October 2023, Published under Cement NewsCement demand in Malaysia will continue to flourish in the medium-to-long term, supported by major infrastructure projects across the country, reports RHB Investment Bank Research (RHB IB). A sector report by RHB IB listed current low inventory levels, the push towards solar panels and electric vehicles, and the recovery in demand on the back of an anticipated upturn in China’s manufacturing and property sectors in the second half of 2024, as the main drivers of its demand growth projections... |
Taiwan Cement plant has 107MWh battery commissioned26 September 2023, Published under Cement NewsNhoa Energy, a unit of Nhoa SA, formerly Engie EPS, has announced the commissioning of a 107.3MWh energy storage project at a Chinese plant of Taiwan Cement Group (TCC Group). Announcing the system's completion recently, TCC Group said Nhoa Energy had designed and developed the 43.2MW energy storage system. Located at TCC Group’s Yingde plant in Guangdong province, the battery is the main part of one of the largest industrial microgrids, Nhoa, which is majority owned by TCC. The Nhoa ... |
Fitch downgrades West China Cement04 September 2023, Published under Cement NewsFitch Ratings has downgraded West China Cement Ltd ’s (WCC) long-term issuer default rating (IDR) and its senior unsecured debt rating from BB to BB- due to the cement producer's aggressive capex, primarily outside China. The outlook on the IDR is negative. According to Fitch, WCC has been investing heavily since 2021 with a focus on overseas markets, resulting in higher leverage and persistently negative free cash flow. In 2022 West China spent CNY3bn (US$412.7m) in capex, 84 per cent of... |
Anhui Conch in 2Q23 totals CNY6.8bn23 August 2023, Published under Cement NewsAnhui Conch Cement ’s first-half net profit of CNY6.8bn (US$932m) is lower than expected, falling 32 per cent YoY. The decline is due to lower average selling prices and weak cement demand. Conch still outperformed the industry given that some of its peers delivered a sharper drop in earnings. Morgan Star has lower its 2023-25 earnings forecasts by 18-19 per cent. While Morgan Star still expects a recovery for the sector, it forecast that this would be gradual, given China’s slu... |
A new chapter for China15 August 2023, Published under Cement NewsAfter implementing continuous COVID-19 response measures over the past three years, China re-opened its doors to the world in December 2022. Having been impacted by pandemic-related restrictions as well as domestic and international headwinds, the country is now starting a fresh chapter with new obstacles and opportunities ahead. By Fei (Grace) Chen, China Cement Association, China. In 2022 China’s cement industry experienced one of its most challenging times in years and is now embar... |