Cement News tagged under: Ethiopia
Dangote02 December 2013, Published under Cement NewsSales growth at Dangote Cement continues to outpace the Nigerian cement market with group sales volumes up 29.5 per cent to 9.95Mt, compared to the same period last year. Pre-tax profit for the nine-month period rose 42.6 per cent to NGN151.7bn (US$957m), while EBITDA grew 35.9 per cent to NGN181.1bn (US$1142m). Consolidated group revenue was up 28.7 per cent to NGN289bn (US$1822m) and gross profit reached NGN189.4bn (US$1195m), up 39.4 per cent. Following a deferred tax credit of NGN4.4bn... |
Habesha due to start new Ethiopia plant construction29 October 2013, Published under Cement NewsHabesha Cement finally plans to start construction of its new 1.4Mta greenfield works in Ethiopia following delays of some three years. Mesfin Abi, CEO of Habesha Cement Share Company, told New Business Ethiopia that phase one of the proect is expected to be operational by 2015. The plant’s future development plan includes an option to double the capacity to 2.8Mta. At the start of this month the company received a letter of consent from the National Bank of Ethiopia, which grants the... |
Ethiopian government commends Dangote over new cement plant19 August 2013, Published under Cement NewsThe prospect of large job creations arising from the establishment of the new cement plant has encouraged the government of Ethiopia has commend the effort of the president of Dangote Group, Alhaji Aliko Dangote, and promised to provide the enabling atmosphere to make the business thrive. The commendation, conveyed through a letter from the government of Ethiopia to Alhaji Dangote came on the heels of a similar appreciation by the government of Tanzania over the recent ground-breaking cere... |
South African market challenges08 April 2013, Published under Cement NewsFull-year data for South African cement sales released this week show that dispatches edged ahead in 2012, but the growth rate remained tepid. Producers will hope that the government's new infrastructure plans will deliver a new growth impetus to the market. Meanwhile, the country's leading cement producer is pursuing additional opportunities across sub-Saharan Africa to bolster profits. South African cement demand has been rising gradually since 2010 and data released on Wednesday by t... |
Habesha Cement appoints new chairman, Ethiopia11 March 2013, Published under Cement NewsHabesha Cement of Ethiopia has appointed a new chairman as well as new board members to reflect changes in the company's shareholding. Tamiru Wondimagegn has been appointed as Habesha Cement’s new board chairman replacing Eng Gizaw Teklemariam. Mr Wondimagegn is a lawyer and board member of the cement company. Habesha Cement, which was established in 2010 with 16,000 shareholders, has elected old and new board members for the seats which have recently been reduced from nine to 12, acco... |
Habesha Cement seeks project funding, Ethiopia20 February 2013, Published under Cement NewsEthiopia-based Habesha Cement has approached the Common Market for Eastern & Southern Africa’s (COMESA) PTA Bank in Burundi to source financing for its new cement project in Addis Ababa. According to reports in the Fortune, the new loan application comes after the Development Bank of Ethiopia (DBE) reversed a decision to finance more than half Habesha's cement project costs. The 1.4Mta cement factory was scheduled for completion in 2014 at a cost of around US$130m. Promoters of the company... |
Development Bank of Ethiopia withdraws Habesha Cement loan31 January 2013, Published under Cement NewsThe Development Bank of Ethiopia (DBE) has withdrawn an ETB1.52bn (US$82.9m) loan agreement made with Habesha Cement for construction of a new plant. The bank had approved the loan last year which was expected to cover over 70 per cent of the financing for the proposed factory. However, the DBE has now withdrawn the offer on the grounds of inability to disburse funds at this time. It has similarly pulled out of loan agreements with five other companies. The bank has pledged to aid the co... |
Loesche wins VRM contract for Dangote's new Ethiopia plant25 January 2013, Published under Cement NewsLoesche has been awarded a contract to supply four vertical roller mills for Dangote Cement’s new plant in Ethiopia by Sinoma International Engineering. For raw material grinding, a Loesche Mill Type LM 69.6 will be installed for the grinding of cement raw material at a product range of 450tph (maximum 490tph) with a fineness of 10 per cent R DIN 0.09 mm. The mill motor capacity for the LM 69.6 will be 6000kW. One Loesche Mill Type LM 28.3D will be implemented to grind local and import... |
New Ethiopian cement factory to set to start production30 October 2012, Published under Cement NewsA new 1500tpd cement plant, situated in the eastern town of Dire Dawa, is set to start production in a fortnight. Ture Dire Dawa Cement factory has completed its construction and is awaiting approval from the Ethiopian Conformity Assessment Enterprise (ECAE), according Mohammed Amin, public relation officer of the factory. “We have delivered a sample of our products and are waiting for ECAE’s approval to start our operation, Mohammed told Fortune.” The company, named after the late... |
Muger Cement Enterprise plans coal conversion project, Ethiopia10 October 2012, Published under Cement NewsEthiopia’s Muger Cement Enterprises is considering proposals from two Chinese suppliers to award a turnkey project for converting the current Heavy Fuel Oil (HFO) clinker burning system to coal fired system. Declining to disclose the names of the companies, Mekonnen Zergaw, CEO of the Enterprise told Fortune that five companies had participated in the bid, of which one has been disqualified at the beginning while two companies did not pass the technical evaluation. The government instructe... |