Cement News tagged under: China
Fiji: clinker shipment from China15 September 2016, Published under Cement NewsA cargo vessel has docked at the Kings Wharf, Suva, bringing in clinker for Tengy Cement from China. The vessel is expected to remain in the port for 7-8 days. According to Vafo-ou Villiame of Carpenters Shipping, “the vessel will be unloading cement clinker for the new cement factory", as reported local news source, The Fiji Sun. Mr Villiame also stated that the ship had not made calls at any other Pacific country. Once unloaded the ship will return directly to China. |
Chinese imports into Kenya show 10-fold rise12 September 2016, Published under Cement NewsNew figures from the Kenyan National Bureau of Statistics reveal that the country imported KES2.2bn (US$21.7m) of cement from China in the first six months of 2016, up more than ten-fold on last year. A report by Business Daily Africa notes that these latest data look set to increase tension between Kenyan producers and Chinese contractors working on some of the country’s biggest infrastructure projects. The Chinese building firms have repeatedly denied claims that they import cement a... |
SDIC new projects in Indonesia08 September 2016, Published under Cement NewsState Development & Investment Corp (SDIC), China’s largest State-owned investment holding company by fund volume, has plans to expand its investment portfolio over the next five years, from cement factories to power plants, nickel ore mines and ports in Indonesia. The company recently began construction of the first phase of a new cement plant in West Papua last week, a 16-month project which represents a US$329m investment and aims to achieve a production capacity of 1.5Mta following co... |
LafargeHolcim02 September 2016, Published under Cement NewsLafargeHolcim has agreed to sell its 65 per cent stake in LafargeHolcim Vietnam to Siam City Cement Company, assuming that the existing minority shareholder does not exercise its pre-emption rights. Based on a company value of CHF867m this values the deal at EUR516m. LafargeHolcim Vietnam has one integrated works and four grinding centres with a total capacity of 6.3Mta. The company also has seven ready-mixed concrete works in southern Vietnam. LafargeHolcim reached an agreement with... |
Indonesia: Chinese plant begins production in West Papua30 August 2016, Published under Cement NewsA new cement plant funded by China’s State Development and Investment Corporation (SDIC) has begun operations in the Indonesian state of West Papua, China Daily reports. The 1.5Mta plant was designed by Anhui Conch and forms part of SDIC’s wider investment strategy in Indonesia. The plant was built at a cost of CNY2.2bn (US$329m) over a 16-month period. Li Bing, vice president of SDIC, said: "Restrained by weak industrial and logistics foundations in certain parts of Southeast Asia, ma... |
China: Socam to sell part of its stake in Nanjing Jiangnan Cement30 August 2016, Published under Cement NewsSocam Development is to sell a 35 per cent stake in Nanjing Jiangnan Cement to property developer Country Garden for CNY147.6m (US$22m), Etnet reports. Socam Development will retain a 25 per cent stake in Nanjing Jiangnan, and intends to sell this to Country Garden at a later date. |
Chinese firm invests in Zimbabwe26 August 2016, Published under Cement NewsMortal 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 Sinoma23 August 2016, Published under Cement NewsChina 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 1H201623 August 2016, Published under Cement NewsIn 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 demand19 August 2016, Published under Cement NewsCement 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... |