Cement News tagged under: Energy fuel & power
PCA: as oil prices fall, cost of asphalt is on the rise18 February 2015, Published under Cement NewsDespite falling oil prices, the cost of paving with asphalt continues to rise across the US. A recent analysis from the Portland Cement Association (PCA) shows that asphalt prices have reached record highs during the last six months. Oil prices declined 44 per cent in the second half of 2014, and during the same period asphalt prices increased 1.5 per cent. A decline in asphalt prices has yet to materialise given six months of data since the beginning of the oil price decline, the normal la... |
Oman Cement 2014 profit declines on weaker sales, clinker imports17 February 2015, Published under Cement NewsOman Cement reported a 12.8 per cent decline in net profit on account of weaker sales, lower clinker production and higher volumes of imported clinker, the company said on Monday. Clinker imports were brought in by the company during the year due to one of its kilns being closed temporarily for capacity enhancement. Oman Cement sold 2.078Mt of cement through 2014, down 1.1 per cent compared to 2.1Mt in the same period of last year. In revenue terms, sales were down 2.05 per cent YoY to OM... |
Beni Suef begins construction of coal mill, Egypt16 February 2015, Published under Cement NewsBeni Suef Cement has began the construction of the coal mill worth EGP200m (US$26.3m), to be used as an alternative to natural gas and heavy fuel oil at its cement plant in Egypt. Farouk Mustafa, managing director of the company, said he expects the project to be completed in October, adding that the project is being partly funded through a EGP100m loan with Egyptian Gulf Bank. Mustafa said that using mazut as a temporary measure to prevent natural gas shortages halting production. Howe... |
Raysut full-year profit dips, Oman09 February 2015, Published under Cement NewsRaysut Cement reported full-year net profit of OMR27.42m (US$71.22m), 0.4 per cent lower than the OMR27.52m posted in the previous year. Revenue rose 1.1 per cent to OMR94,29m from OMR93.29m, according to a company filing with the Muscat Securities Market on Thursday. A research note by Gulf Baader Capital Markets (GBCM) said the company’s revenue was in line with estimates but earnings was below its forecast of OMR28.8m. According to GBCM, group sales volumes came in at 3.8Mt but ... |
PCA: oil prices could lead to strong near-term US economic growth05 February 2015, Published under Cement NewsLow oil prices are beneficial to US economic growth and are expected to add 20 to 30 basis points to real GDP growth rates during 2015-2016, Edward J Sullivan announced during remarks at the 2015 World of Concrete. However, Mr Sullivan cautioned that this good news for the nation¹s economy does not necessarily travel with the same speed to the construction industry. "Unfortunately, the transmission process from oil price declines to construction activity contains timing lags," said Mr Sul... |
Semen Indonesia targets seven per cent sales growth26 January 2015, Published under Cement NewsSemen Indonesia is targeting sales growth of around seven per cent this year, despite a cut in the price of the construction material for state-run enterprises initiated by the government last week. Semen Indonesia’s new president, Suparni, said the company is targeting production of 30Mt and hopes for an increase over 2014, when volume rose three YoY to 28.5Mt. That figure included 2.3Mt produced by Thang Long Cement, a Vietnamese company acquired by Semen Indonesia in 2013. The Indon... |
US recovery on a roll23 January 2015, Published under Cement NewsContinued, steady improvements are anticipated for US cement volumes and pricing through 2015. A widespread increase in construction activity is anticipated, but falling energy prices could present headwinds in certain areas. The US is expected to be the main source of global economic strength in 2015 by most forecasters with indicators trending upwards. The economy has been growing faster than previously forecast, and the IMF says a stronger housing market and business investment suggest... |
Sanghi Industries invests in energy, port development21 January 2015, Published under Cement NewsSanghi Industries is to invest in a 15MW waste heat recovery (WHR) system at its cement plant in Kutch, Gujarat, as part of the company’s drive to enhance efficiency and reduce its carbon footprint. Explaining the company’s strategy, Alok Sanghi, Director of Sanghi Industries Ltd said: “Our focus is on increasing efficiencies at our manufacturing facilities as well as reducing our carbon footprint by cutting down on pollutants that affect the environment.” Sanghi has signed a contract for... |
HeidelbergCement expects positive earnings impact on falling prices20 January 2015, Published under Cement NewsHeidelbergCement AG expects the falling oil prices to have a positive effect on the company`s earnings in 2015, a company spokesperson told German weekly Euro am Sonntag. The low fuel prices will have a positive impact on the company’s energy costs, the spokesperson said. In November, the global cement major said its third-quarter operating income before depreciation (OIBD) increased by 10 per cent to EUR866m thanks in part to price increases and declining energy prices. |
Lucky Cement gets go-ahead for coal power plant investment14 January 2015, Published under Cement NewsLucky Cement Ltd's Board of Directors has approved the investment of around PKR27bn (US$268.4m) to set up a 660MW coal-based power plant in Karachi, Pakistan. Under the name of Lucky Electric Power Co Ltd (LEPCL) the power plant will be wholly-owned by Lucky Cement and will be financed with a debt/ equity ratio of 75:25. The announcement comes shortly after fellow-Pakistan producer Attock Cement Ltd signed an Memorandum of Understanding with K-Electric to establish a coal-fired plant fo... |