Cement News tagged under: East Africa
Huaxin Cement plans US$160m investment in African expansion17 June 2021, Published under Cement NewsHuaxin Cement plans to spend US$160m to purchase cement factories in Zambia and Malawi to expand its presence in Africa, according to a company statement. Huaxin Hainan Investment wants to buy a 75 per cent stake in Lafarge Zambia from French cement maker Financière Lafarge, which isa major shareholder in Huaxin through its subsidiary Dutch finance firm Holchin, for US$112.5 m, said the Chinese cement company. It will also make compulsory cash offers to public stakeholders to buy up th... |
Zambezi Portland Cement allows retail purchases direct from plant09 June 2021, Published under Cement NewsZambia’s Zambezi Portland Cement has allowed the direct retail purchase of cement from its cement plant to reduce price exploitation in the market. The company’s CEO, Gomeli Litana, has said the company has a set price and that it was not interfering in price fixing on the retail market. "As a cement producing company, we do support not only large buyers but small scale consumers, you can come here and buy 100 or 200 bags," he said. |
Dugongo Cement plant inaugurated27 May 2021, Published under Cement NewsMozambican President Filipe Nyusi inaugurated the 2Mta Dugongo Cement plant, in the southernmost district of Matutuine, on Wednesday. The US$330m investment by the Chinese West International Holding sees the creation of a greenfield plant on 400,000ha, including a quarry and residential complex for some of the 300 permanent staff. Dugongo Cement has its own charcoal-fired 36MW power station. Water is taken from the Maputo River basin and treated to serve the plant. Pre... |
Zambian cement prices remain high19 May 2021, Published under Cement NewsThe prices of different brands of cement in Zambia are still ranging between ZMW135-145 (US$6-6.45) for a 50kg bag, over a month after Competition and Consumer Protection Commission (CCPC) directed that prices should be reduced to ZMW110. Last month, CCPC fined Lafarge Zambia Plc and Mpande Limestone Ltd for price fixing with the two cement manufacturing entities expected to each pay 20 per cent of their 2019 and 2020 turnovers while reverting to pre-cartel prices ranging between US$4.50-... |
The pull towards Tanzania11 May 2021, Published under Cement NewsDespite a slight contraction in 2020, Tanzania’s cement consumption is estimated to remain stable or increase going forward owing to promising market fundamentals. However, overcapacity remains an issue and producers are having to become innovative to retain market share and margins. A major new addition is also waiting in the wings. By Lisa Kimathi, Standard Investment Bank, Kenya. Infrastructure development is one of the driving forces for the realisation of Tanzania’s Vision 2025 ... |
Twiga Cement to expand production capacity19 April 2021, Published under Cement NewsTanzania Portland Cement (Twiga Cement) has announced its intention to invest US$15m in an expansion and rehabilitation programme in 2021, according to the Tanzania Daily News. For the past 10 years, the factory has been producing 1.2Mta of cement, but it has currently increased capacity to about 2Mta. "Twiga Cement is doing well and we are happy for that, they have also thanked the government for better business environment despite the fact that there are small policy challenges which... |
Twiga Cement saw profits rise 25% in 202016 April 2021, Published under Cement NewsTanzania Portland Cement (Twiga Cement) saw its pretax profit rise 25 per cent YoY to TZS107.42bn (US$46.3m) in 2020, against TZS85.87bn in the previous year. The company’s turnover and sales volumes also increased 13 and six per cent, respectively, during the year. "The operating performance of the plant and availability of the machinery was good, ensuring clinker production reached record levels," said Hakan Gurdal, chairman. Mr Gurdal said the future looks bright as cement demand in T... |
Kolos sees 17% profit drop in 202006 April 2021, Published under Cement NewsMauritius-based Kolos saw its profits fall by 17.4 per cent to MUR145m (US$3.57) from MUR175.6m in 2019. The company’s income declined from MUR1.4bn to MUR1.3bn. The drop in profit and income was the result of the lockdown due to the COVID-19 pandemic as well as the rising cost of raw materials as the rupee weakened. However, the company stated that “despite the difficult operating environment, the company showed tremendous resilience and demonstrated its ability to ensure continuous sup... |
Messebo Cement resumes operations24 March 2021, Published under Cement NewsEthiopia’s Messebo Cement has now resumed production after suspending operations for four months due to fighting in the area. Melaku Alebel, Minister of Trade, has confirmed that the company has started supplying products to stabilise the cement market. While cement prices had spiked in recent weeks, following measures taken by the Ministry of Trade, the price has fallen to ETB420/100kg (US$10.14) from ETB600 in Addis Ababa. |
Ethiopia's cement sector is on the brink of transition12 March 2021, Published under Cement NewsThis week the construction of the Lemi National Cement industrial Complex by East Africa Holdings (National Cement) and West China Cement Ltd in the Amhara region of Ethiopia was announced. This privately-owned industrial park will invest US$2.2bn into the production of building materials, including a 10,000tpd cement plant, adding 3.3Mta to domestic cement capacity and is scheduled to take 18 months to complete. It will take 5-7 years to before the complex is fully complete. Cement ... |