Cement News tagged under: Dangote
Nigerian producers agree to lower prices22 February 2024, Published under Cement NewsNigeria-based Dangote , BUA Cement and Lafarge have agreed to lower cement prices in the country, despite rising production costs. According to This Day Live, the three manufacturers have stated that a 50kg bag of cement should have a maximum retail price of NGN8000 (US$4.98). Following a meeting with Nigeria’s Minister of Works and the Minister of Industry, Trade and Investments, the producers said a monitoring team would be set up to ensure compliance with the new pricing agreement. ... |
A new era for Nigeria05 December 2023, Published under Cement NewsNigeria’s new president signals the dawn of a new era as the west African country aims to address long-standing macroeconomic imbalances. The domestic cement sector continues to add additional capacity in view of long-term market potential, but a number of stumbling blocks need to be overcome before latent demand is realised. By Moses Waireri Njuguna, EFG Hermes, Nigeria. The inauguration of Nigeria’s new president is heralded as a new era for Nigeria as the country aims to address... |
Dangote reports 82% advance in pan-African revenue31 July 2023, Published under Cement NewsDangote Cement has reported total sales volumes of 13.4Mt in the first half of 2023. Its pan-African sales, which includes all cement plant operations outside Nigeria, came in at 5.4Mt, up 11.6 per cent YoY, mainly due to robust demand in Ethiopia, Senegal, Zambia and Congo. Group revenue in the 1H23 stood at NGN950.8bn (US$1.23bn), up 17.7 per cent YoY, while pan-African revenue advanced 81.8 per cent to NGN336.4bn. Recurring profit after tax was up 37.4 per cent to NGN292.2bn, while ... |
Dangote Cement names new CEO27 February 2023, Published under Cement NewsDangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director. Mr Pathak will replace Frenchman Michel Puchercos, who will leave at the end of February after three years at the helm. The new CEO’s tenure begins on 1 March. Mr Pathak led India’s Birla Corp before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co Ltd as regional CEO and has experience spanning... |
Dangote announces new 6Mta Nigerian plant02 February 2023, Published under Cement NewsDangote Industries Ltd is building a new integrated 6Mta cement plant in Itori, Ogun state, Nigeria. According to press reports, the plant will be supplied by Sinoma International Engineering and will take Dangote’s Nigerian cement production capacity to 41.25Mta and total African capacity to 57.6Mta. Due to be completed in the first half of 2025, the new facility will have its own captive power plant, and two 6000tpd clinker production lines giving a total daily clinker production cap... |
Quarterly results propped up by steep price increases25 November 2022, Published under Cement NewsThe latest quarterly results reveal that cement producers are increasingly turning to price rises to offset the ongoing jump in energy costs, while they struggle to maintain margins. In addition to price increases, companies are reviewing their energy portfolios, fuel types and accelerating the shift to alternative fuels. In Indonesia PT Indocement saw its energy costs reach 50 per cent of total production cost in the third quarter of 2022, prompting the company to implement three price... |
Ibeto Cement reopening could provide jobs for Igbo people20 October 2022, Published under Cement NewsWhile Dangote Cement 's Obajana plant has caused alarm at the manner and violence of its sudden closure, the long-term closed plant of Ibeto Cement still holds the potential for thousands of jobs for the Igbo people in the southeast. Iyke Uzukwu, a Nnewi-based analyst, wants the federal government to reopen the cement plant to release these jobs. Mr Uzukwu has called on the leadership of the Ohaneze Ndigbo group, which represents the Igbo people, to add its voice to the issue of the Ibet... |
Dangote volumes up 4% in 1Q2206 May 2022, Published under Cement NewsDangote has reported a 24.2 per cent YoY increase in group revenue to NGN413.2bn (US$995.4bn) in the opening quarter of 2022. Group EBITDA over the same period advanced by 18.6 per cent to NGN211bn giving a margin of 51.1 per cent. Sales volumes for the group fell by 3.6 per cent YoY to 7.2Mt as operations relying on cement and clinker imports, namely Ghana, Sierra Leone and Cameroon, were disrupted by global supply chain issues. Profit after tax in the 1Q22 advanced by 18 per cent YoY to re... |
Dangote: powerhouse of Africa and Nigeria08 March 2022, Published under Cement NewsThrough the use of financial ratio analysis, this month’s Technical Forum examines how Dangote Cement – the powerhouse of Africa and Nigeria – has managed to achieve a strong and sustained financial performance. Dr Clark looks at why Dangote Cement is right at the top of the range of performance for cement companies The benchmarking of a cement factory and cement company performance remains a major part of Whitehopleman and Dr Clark’s work. When such benchmarking exercises are b... |
Senegal sales up 12% YoY11 February 2022, Published under Cement NewsCement sales in Senegal advanced 12.7 per cent MoM and by 11.9 per cent YoY in November 2021, according to its National Agency for Statistics and Demography (ANSD). Output from the plants of SOCOCIM, Dangote and Ciments du Sahel increased by 11 per cent MoM and by 20.7 per cent YoY in November 2021. Exports declined 5.6 per cent in November 2021 when compared with export shipments in October 2021 although YoY they were up 29.6 per cent. |