Cement News tagged under: Iraq

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Iranians advised to view Iraqi cement as an investment opportunity

20 February 2017, Published under Cement News

The head of Iran-Iraq Chamber of Commerce, Yahya Al-e Es'haq, has advocated that Iranians should invest in the neighbouring cement market of Iran. "During a meeting with Iraq's minister of industry and minerals, the Iraqis said they intend to make their industries self-sufficient and that they do not want to be a sole importer of goods [such as cement] from Iran," Mr Al-e Es'haq added. "Close to 70 per cent of Iraq’s cement plants are working below capacity and can be revitalised throug...

Lucky Cement sees half-year profits rise 12.5% to US$67m

27 January 2017, Published under Cement News

Lucky Cement has announced that its profits rose by 12.5 per cent YoY in the last six months of 2016 to PKR7bn (US$67m). In a statement to the Pakistan Stock Exchange, Lucky revealed that it had sold 3.5Mt of cement and 235,000t of clinker during the first six months of FY17. Cement sales improved over the previous year by 5.4 per cent, while no clinker sales at all took place in the corresponding period in FY16. Cement production also rose to 3.5Mt, up six per cent on FY16, while clin...

Iran: IME to resume cement trading

05 January 2017, Published under Cement News

The Iran Mercantile Exchange’s (IME) export trading board, established to curb unhealthy competition among cement producers and other trades, is all set to resume cement trading, the head of the country's Cement Employers Association, Abdolreza Sheikhan, said. Founded in 2006, IME trades in agricultural, industrial and petrochemical products in the spot and futures markets. Iran's cement industry has been dealing with low demand and the consequent liquidity issues for the past few years,...

Pakistan: Lucky Cement considers buying Hattar plant and investing in Iraq

09 December 2016, Published under Cement News

Lucky Cement has announced that it has begun the due diligence process for the purchase of Dewan Cement’s 1.134Mta Hattar plant and that separately it would look to expand its grinding plant in Basra, Iraq, according to Pakistan’s The News. Lucky’s corporate strategy calls for an expansion of its business into northern Pakistan, for which the Hattar plant – located around 25km from Islamabad – is well suited. The Basra plant, which Lucky holds as a joint-venture with an Iraqi partner, ...

FLSmidth secures US$200m contract with Iraq Cement

03 November 2016, Published under Cement News

FLSmidth has announced that it has won a contract worth more than US$200m to construct a 6000tpd cement plant in Al Muthana province of southern Iraq. The contract, awarded by the Iraq Cement Company, will see FLSmidth provide equipment, build and commission the plant, and provide training for employees. "By signing the contract, Iraq Cement Co is making the first step in raising financing for the project, which is an important milestone in their pursuit to realise the project. We are ...

Lafarge Iraq signs transportation deal

31 August 2016, Published under Cement News

Lafarge Iraq have signed an agreement with Iraq’s General Company for Land Transportation (GCLT), which is owned by Iraq’s Ministry for Transport, for the transportation of its cement products. The Lafarge deal is the largest in history for GCLT according to an Iraq Business News report. The contract will run for one year, but has the possibility of a five-year extension. Lafarge Iraq operates three cement plants in the country, Bazian and Tasluja located in Sulaimaniyah, Kurdistan, an...

Kurdistan: new Inekon Group plant

15 August 2016, Published under Cement News

Inekon Group has signed a contract for a new plant project in the Iraqi region of Kurdistan worth US$450m. Project Manager, Michal Obrucník, said that the end customer is a Kurdish joint stock company and that it is close to completing talks on project financing. Project implementation is expected to being in September 2016. Commencement of construction of the new plant is forecast for March-April 2017, with completion expected June 2019.

Saman Cement's MD angered by Iraq's high import duties

23 June 2016, Published under Cement News

The managing director of Saman Cement Co, in Kermanshah, West Iran, has said that Iraq's high import duties on cement has put the Iranian cement industry in crisis, reports the Tasnim News Agency. Shahryar Geravandi, the managing director of Saman Cement Co said: "The new policy of the Iraqi government to increase import cement duties has put [Iranian] cement factories in danger, and domestic cement factories are now facing surplus product." Geravandi added that importing to new markets ...

Iran: exporters look to Africa for new markets

15 June 2016, Published under Cement News

Iranian cement producers are looking further afield as the impact of Iraq’s ban on imports shuts them out of their main export market, the Financial Tribune reports. The lifting of sanctions on Iran earlier this year has expanded the list of potential destinations for cement exports. In May, the Iraqi parliament approved legislation banning cement imports in a move designed to protect domestic producers. Iran has hitherto been a major supply to its neighbour: 48 per cent of Iranian export...

Iraq promises to remove Iran import ban

23 May 2016, Published under Cement News

Iraq has promised to remove the ban placed on Iranian cement imports, according to Adolreza Sheikhan, secretary of Iran's Cement Industry Employers Association. Following meetings between Iranian and Iraqi officials, Baghdad promised to give priority to Iranian exports once the general ban on cement import is removed, Mr Sheikhan said. Iran's cement and clinker exports witnessed a 20 per cent fall in the last fiscal year (ended 20 March), now standing at 15Mt.