Cement News tagged under: Huaxin Cement

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Huaxin Cement announces profit decline for 2020

14 January 2021, Published under Cement News

China’s Huaxin Cement expects its net profit to decrease by 9-14 per cent YoY in 2020, compared to CNY6.3bn (US$974m) in the previous year, according to preliminary calculations by the company’s financial department. The company’s performance last year has been attributed to the severe impact of the pandemic in the first half and the large-scale flooding of the Yangtze River in July. Prices also declined, negatively impacting operating income. However, in the third and fourth quarters of...

Maweni Limestone upgrades kiln line

09 July 2020, Published under Cement News

Huaxin Cement’s Maweni Limestone subsidiary has ignited the kiln and begun trial production at its recently-upgraded 0.75Mta plant. Huaxin Cement acquired the Tanzanian company in May this year and began work on the kiln line on 1 June. The grinding section of the facility is not expected to be upgraded. Subject to developments related to the COVID-19 pandemic, Huaxin is now planning to send a management team to implement the advanced cement process technology, according to reports.

Huaxin Cement acquires ARM Cement's Tanzanian unit

20 May 2020, Published under Cement News

The Tanzanian unit of Kenya's ARM Cement has been sold to China's Huaxin Cement, according to its administrator PricewaterhouseCoopers. Huaxin is expected to invest US$116m into Maweni Limestone Ltd to settle liabilities and another US$30m to complete a plant construction and upgrade. "Securing a suitable investor with the ability to make the requisite investments and inject much-needed capital to boost Maweni's operations [...] was a top priority [...] given Maweni's dire financial si...

Huaxin Cement reports 65% fall in 1Q20 profit

29 April 2020, Published under Cement News

China’s Huaxin Cement has reported a 65 per cent YoY decline in net profit to CNY354.1m (US$50.06m) for the first quarter of 2020, according to Reuters. However, the company had posted a 22.4 per cent YoY rise in net profit to CNY6.3bn for the full-year 2019 period.

Huaxin Cement plans share buy-back scheme

20 December 2019, Published under Cement News

China’s Huaxin Cement has announced its intention to buy back company shares worth around CNY100-125m (US$14.21-17.76m) within the next 12 months. The company also stated its plans to issue offshore bonds worth up to US$500m. 

Huaxin Cement Narayani resumes construction work after floods

21 November 2019, Published under Cement News

The construction of Huaxin Cement Narayani’s plant at Dhading district, Nepal, has now resumed after a five-month stoppage due to floods. Incessant rains had damaged the construction site in mid-June this year. "As soon as the festivals were over, 400 Chinese workers including technicians and 300 Nepali workers started working," said Pitta Bahadur Dallakoti, chairperson of Benighat Rorang Rural Municipality. "Management of the factory's physical structure, office buildings, and river is be...

Construction to begin on Nepali-Chinese joint venture

01 March 2019, Published under Cement News

Huaxin Cement Narayani, a Nepali-Chinese joint venture, is set to begin construction on its facility in Dhading district, Nepal, within the next few days. "The promoters of the company have informed us that they will lay the foundation stone on Friday and start the construction," said Uttam Bhakta Wagle, spokesperson at the Investment Board Nepal (IBN). The company has already acquired a limestone mine from the country's Department of Mines and Geology through a global tender for NPR60...

Huaxin Cement announces new Uzbekistan project

07 February 2019, Published under Cement News

Huaxin Cement has announced that it will construct a new cement plant in Uzbekistan, with government approval already received. The company has set up a new venture, Huaxin Cement Jizzakh, for the implementation of the 1.2Mta facility. The plans will see the plant built in Zafarobod, Jizzakh, at an investment cost of US$150m, with the company expecting to spend US$78m to purchase equipment. Commissioning is expected in December 2019, while plans for the first stage of production include ex...

Holcim Philippines contracts Huaxin for US$245m project

13 December 2018, Published under Cement News

China’s Huaxin Cement has announced that it has been contracted to build and renovate cement production lines and supporting facilities for Holcim Philippines. The US$245m engineering, procurement and construction contract is expected to be fulfilled over a two-year period. It will see Huaxin build a 6000tpd production line, renovate an existing 3000tpd line and erect a 7MW waste heat power generation project. Huaxin will design, provide equipment, build civil works, install and debug equ...

Huaxin Cement seeks funding for US$140m project

03 December 2018, Published under Cement News

Huaxin Cement Co Ltd is seeking the assistance of international banks to close funding on its US$140m plant in Nepal, after it secured a US$30m loan from the Export-Import Bank of China (EIBC), according to Inside International Industrials. Nanjing Golden Cement Technology Engineering Co has been confirmed as the project design firm. The design of the 3500tpd facility is expected to be completed before March 2019, with the funding also expected before then. The company plans to add one o...