Cement News tagged under: Ethiopia
Ethiopia: two new plants due to commence production in 2H1425 June 2014, Published under Cement NewsTwo new cement plants currently being implemented in Ethiopia are expected to begin production in the second half of this year, according to the director general of the Chemicals and Construction Materials Development Institute. Samuel Halala told local press that 90 per cent of Ethio Cement’s construction has been completed, while Dangote's Mugher works is 75 per cent finalised. The two factories are expected to increase domestic capacity to 15.7Mt. He said he expects production at both ... |
Habesha secures 60-year mining license, Ethiopia28 May 2014, Published under Cement NewsEthiopia-based producer Habesha Cement has acquired a mining license from the Ministry of Mines (MoM), according to reports by Fortune. The agreement gives Habesha the right to mine limestone, gypsum, clay and sandstone from a total of 112ha of land located in the West Shoa Zone, Oromia State. The sites are found in Meta Robe, Ejere and Ada’a Bergag woredas. The deal, finalised by representatives from the two parties on 19 May 2014, is valid for 60 years and was |
PPC27 May 2014, Published under Cement NewsPPC has reported a two per cent rise in cement sales for the six months ending March 2014. Revenue came in at ZAR4.16bn (US$0.4bn), an increase of nine per cent on the same period last year. EBITDA was also up by five per cent to ZAR1.17bn, while operating profit jumped 15 per cent to ZAR1.36bn. The cement market now accounts for 86 per cent of the company's total revenue, compared to 10 per cent for lime and four per cent for aggregates. Much of the growth has come from increased export sal... |
Nigeria: Dangote to stabilise cement price08 May 2014, Published under Cement NewsSpeaking to shareholders at the 5th 2013 Annual General Meeting Aliko Dangote, Chairman of Dangote Cement Plc, pledged that his company would intensify direct-to-consumer deliveries to help stabilise cement prices in Nigeria. Aliko Dangote admitted that most input costs into cement production have risen to an "astronomically high" level, but that his organisation is committed to reducing prices. Dangote sold 13.3Mt of cement in Nigeria within the financial year representing an increase of 2... |
PPC27 March 2014, Published under Cement NewsWith construction already underway on its new 1.4Mta plant in Ethiopia, PPC will be hoping to cash in on the billions of dollars of public works projects being carried out across the country. As the Ethiopian government pushes ahead with plans to achieve middle-income status by 2025, new road, railway and power generation projects are springing up everywhere in a bid to attract further investment and help industrialise the economy. But cement production capacity remains woefully insuffici... |
PPC expansion on track28 January 2014, Published under Cement NewsPPC has said its expansion remains well on track and commissioning of its Rwanda plant is anticipated at the end of 2014. Construction work has also commenced at sites in Ethiopia and the Democratic Republic of the Congo, it added. As part of its local 'Keeping the Home Fires Burning' strategy, in December 2013, PPC acquired a 69.3 per cent stake in Safika Cement Holdings for ZAR377m. "Additional opportunities are currently being pursued and further announcements will be made in the near... |
Habesha secures letter of credit for new plant project, Ethiopia02 January 2014, Published under Cement NewsHabesha Cement SC has secured a letter of credit (LC) for its Chinese contractor from the Eastern & Southern Africa Trade & Development Bank (commonly known as the PTA), Fortune reported. The PTA agreed to co-finance the project earlier this year by lending US$50.4m. The LC, which was required before the factory equipment could be imported, had hindered the Chinese contractor from beginning work on the plant, Mesfin Abi, CEO of Habesha, said at a press conference held on 26 December at t... |
North Holdings Investment Inc to construct Ethiopian plant30 December 2013, Published under Cement NewsNorth Holdings Investment Inc, an Ethio-American company based in the US, is to build an 8.4Mta cement factory in the Amhara Regional State near Dejen town. Company president, Temesgen M. Bitew, told The Reporter that his company is planning to build the two-line plant as well as set up a transport company and coal preparation plant. At an estimated cost of US$800m, Temesgen said the firm will secure the loan from a London-based investment bank. |
Habesha signs loan agreements to finance new plant construction, Ethiopia10 December 2013, Published under Cement NewsHabesha Cement has signed loan facilitation agreements for the construction of a new 1.4Mta greenfield cement plant in Ethiopia. The Development Bank of Ethiopia (DBE) has signed a ETB630m loan agreement with the company at its headquarters on 19 November 2013, according to reports by the Addis Fortune. The loan is to be paid back over a period of 7-9 years. Loan agreements were also signed between Habesha, the DBE and the PTA Bank - the financial arm of the Common Market for Eastern... |
Al-Amoudi plans new Ethiopian ventures03 December 2013, Published under Cement NewsEthiopia’s biggest private investor, Mohammed al-Amoudi, plans to construct two more cement factories in the country, according to reports by Bloomberg. Saudi billionaire al-Amoudi is also the owner of the Derba MIDROC Cement factory which opened in early 2012. With an investment of US$351m the plant has a capacity of 2.3Mta and produces OPC and PPC. Derba also operates two mini plants – the Derba mini works near the main facility and the Dejen mini unit near the down of Dejen – each produc... |