Cement News tagged under: Ethiopia
FLSmidth signs contract for 5000tpd Ethiopian plant24 January 2019, Published under Cement NewsFLSmidth has signed a contract with Abay Industrial Development SC for a greenfield cement plant near Dejen, Ethiopia. The order is valued at around EUR100m and includes the delivery of design and engineering, full equipment supply, automation systems, installation and commissioning, as well as training and extended supervision. The project is expected to be completed in the second quarter of 2022 and, once fully operational, will have a capacity of 5000tpd. "This greenfield plant will... |
Dangote reports 15% rise in 9M EBITDA23 October 2018, Published under Cement NewsDangote Cement announced a 13.5 per cent rise in group revenues to NGN685.29bn (US$1.88bn) for 9M18 as sales volumes advanced 7.6 per cent to nearly 17.8Mt. Group EBITDA rose 14.6 per cent YoY to NGN337.3bn while EBITDA margins advanced from 48.8 per cent in 9M17 to 49.2 per cent in 9M18. Net profit advanced to NGN158.28bn in 9M18 from NGN154.122bn in the year-ago period. Nigeria In Nigeria sales volumes increased 11.7 per cent to nearly 10.8Mt on the back of a domestic market recovery.... |
Ethiopia-Eritrea border re-opening fuels cement trade19 September 2018, Published under Cement NewsFollowing the normalisation of Ethiopia-Eritrea relations and the reopening of the border between the two countries, cement trade is flourishing after two decades of stand-off. As of Wednesday 12 October, 4000-5000 quintals (400-500t) a day have been transported from Adigrat, some 900km north of Addis Abeba, to the border towns of Senafe, Adi Keyih and Dekemhare in Eritrea, according to business owners in Adigrat. Business activities in these areas has revived,” Angesom told Fortune. A ... |
Ethiopian cement industry faces persistent challenges06 August 2018, Published under Cement NewsWhile the Ethiopian cement industry has expanded significantly and changed from being a net importer to a net exporter, the industry faces continued challenges, according to Haile Assegide, president of the Ethiopian Cement Producers’ Association in a key note address at the third annual East African Cement, Concrete and Energy Summit. A shortage of skilled manpower, lack of foreign currency and erratic power supply all continue to haunt domestic cement plants. Mr Assegide said that there ... |
PPC expects profit increase in FY1818 June 2018, Published under Cement NewsSouth Africa’s PPC expects its net profit attributable to shareholders to increase between 55-65 per cent for the financial year ended 31 March, compared with ZAR93m (US$6.9m) of the previous year. However, the group’s EBITDA from operations is expected to decline by 5-12 per cent YoY. "Group EBITDA has been negatively impacted by costs related to corporate action, restructuring and separation costs, which were communicated previously. Excluding this impact and the fluctuation in exchange... |
Gunmen kill Dangote Cement's country manager in Ethiopia17 May 2018, Published under Cement NewsDeep Kamara, Dangote Cement’s country manager in Ethiopia, was killed by gunmen on Wednesday while returning to Addis Ababa from the facility which he managed in the country, according to Reuters. Reports suggest that Mr Kamara’s secretary and driver were also shot in the incident which occurred in the unstable Oromiya region. "The company’s director died following an attack by unknown gunmen that took place while he was returning to Addis Ababa from the factory alongside two company emp... |
A strong domestic market drives Dangote's 1Q18 results27 April 2018, Published under Cement NewsThis week Dangote Cement Group reported on its 1Q18 business results that saw group revenues surge up 16.3 per cent to NGN242.1bn (US$0.67bn). Cement sales in Nigeria have been particularly strong rising by 5.3 per cent to 3.97Mt, while exports from the company’s homeland have risen to 211,000t in 1Q18 with Togo, Niger and Ghana the main export destinations. Pan-African sales increased 4.4 per cent YoY to 2.24Mt. "The first quarter of 2018 has started strongly with substantial increases ... |
Dangote Cement Group's revenue up 16% in 1Q1825 April 2018, Published under Cement NewsDangote Cement group released its 1Q18 results and reported revenue up 16.3 per cent to NGN242.1bn (US$672m). This gives Dangote a market share of approximately 66 per cent. Group EBITDA rose by 22.2 per cent to NGN 125.9bn, while Pan-African EBITDA increased by 77.3 per cent to NGN13.1bn. In the domestic market of Nigeria, Dangote sold 3.7Mt of cement in the 1Q18, up 5.3 per cent on 1Q17 after slightly lower sales in January and February. Of Nigeria’s total 1Q18 sales, nearly 211,000t was... |
Inchini Bedrock Cement is investigated for tax evasion26 March 2018, Published under Cement NewsEthiopia-based cement producer, Inchini Bedrock Cement Plc, is being investigated by the Office of the Attorney General for alleged tax evasion of ETB133m (US$4.8m) over the span of six years. The Ethiopian Revenues & Customs Authority (ERCA) reports that the company is liable for ETB276m (US$10m), says All Africa. Inchini has declared losses in all but two of its years since its establishment seven years ago. But the Authority's Large Taxpayers Office (LTO) refuted these claims and conduc... |
Foreign producers may find Ethiopian raw materials difficult to secure16 February 2018, Published under Cement NewsCement companies in Ethiopia may in future need mining rights from local regional governments as well as Central government to excavate raw materials. The administration of the East Shewa Zone with the Oromia region, for example, has written to foreign cement firms that mine pumice for cement production to cede some of their operations to the cooperatives of unemployed youths in their areas. The Ethiopian cement market is being fiercely contested by some 17 or more producers. Utilisa... |