Cement News tagged under: Lafarge Africa
Lafarge Africa posts 23% rise in revenue in 9M2201 November 2022, Published under Cement NewsNigeria-based Lafarge Africa has seen its net income expand by 11.2 per cent YoY to NGN44.9bn (US$102.1m) in the opening nine months of 2022. This compares to NGN40.39bn in the same period a year earlier, according to The Day Live. Revenue over the same period advanced by 23.1 per cent to NGN269.85bn, versus NGN219.2bn in the 9M21. Revenue from cement sales alone came in at NGN261.4bn during the nine-month period this year, up 22.4 per cent on the same period in 2021. Sales from aggrega... |
What's driving Nigerian cement demand?02 September 2022, Published under Cement NewsBUA Cement announced this week that it would seek finance from the International Finance Corp (IFC) for a 6Mta cement expansion of its Sokoto cement plant in Kalambaina, Nigeria. The aim is to make Nigerian cement production more sustainable and reduce the cost of the product, according to BUA Cement. But what other drivers have continued to bolster cement capacity growth in the west African country? While domestic demand has been growing rapidly and caused cement prices to spiral upward, t... |
Wartsila extends O&M agreement with Lafarge Africa29 September 2021, Published under Cement NewsWärtsilä has signed a five-year Operation & Maintenance (O&M) agreement with Nigeria's Lafarge Africa Plc. The agreement covers the 100MW Lafarge Ewekoro power plant and is an extension of a previous 10-year agreement. The captive Ewekoro plant was supplied and commissioned by Wärtsilä in 2011. It consists of six 50DF dual-fuel engines, operating primarily on gas, but with the flexibility to automatically switch to liquid fuel in case of a disruption to the gas supply. "We have benefited... |
New entrants to help meet Nigeria's increasing cement demand30 July 2021, Published under Cement NewsThis week Nigeria has caught attention with announcements of new cement capacity. Not only has Dangote Cement cut the tape on its US$1bn cement plant near Okpella in Edo State, but there has also been an announcement that new entrant Madugu Cement will establish a 5Mta greenfield cement plant in Gombe State. While the country is building its cement capacity at an astonishing rate, cement demand is still outpacing output and the extra capacity is not yet being reflected in lower cement prices... |
Lafarge Africa Plc opts for 52 LNG trucks28 July 2021, Published under Cement NewsAt Lafarge Africa Plc (Holcim group) has reaffirmed its commitment towards affordable and clean energy, through the launch of a new set of 52 LNG-fuelled trucks. The implementation of the natural gas powered trucks in partnership with Ecologique will improve environmental performance as LNG generates 30 per cent less CO 2 t han fuel oil and 45 per cent less than coal. The combustion of natural gas dissipates much more quickly in the air, leaving no particles or residue. Spe... |
Lafarge Africa reports 99% growth in FY2031 March 2021, Published under Cement NewsLafarge Africa Plc has declared a 98.8 per cent YoY growth in profit to NGN30.8bn (US$788.7m) for the FY20, compared to NGN15.5bn reported in FY19. The growth is linked to the company's cost optimisation strategy to reduce loss arising from unproductive assets. This move led to the improvement in the company’s recurring EBIT margin from 16 per cent in 2019 to 20 per cent in 2020. Lafarge's revenue expanded by 8.3 per cent YoY to NGN230.6bn, driven by the strong demand for cement... |
Lafarge Africa to install baghouse at Ewekoro02 March 2021, Published under Cement NewsNigeria’s Lafarge Africa has committed US$8m to change its current electrostatic precipitator to a baghouse at its Ewekoro plant. As a result, the company is planning to shut down the plant’s kilns for at least six months to make the improvement, according to The Punch. Khaled El-Dokani also noted alternative fuels currently make up 40 per cent of the plant’s fuel mix, while the target is for the company’s plants to be operating on at least 35 per cent by 2023. |
Lafarge Africa to sell 35% stake in Ghana operations25 January 2021, Published under Cement NewsFollowing an emergency meeting of its Board of Directors, LafargeHolcim-owned Lafarge Africa Plc reached an agreement to offload its 35 per cent holding in Ghana-based Continental Blue Investment after years of loss-making. The step is the second major divestment in less than two years after Lafarge Africa’s US$316m sale of its South African subsidiary in July 2019. Proceeds of this deal went to settling Lafarge Africa’s debt to Caricement BV in a debt-to-equity swap, improving the company... |
Lafarge Africa sees revenue increase 10%03 November 2020, Published under Cement NewsLafarge Africa has reported a 10.3 per cent YoY increase in revenue to NGN179.88bn (US$464.57m) for the 9M20, against NGN163.1m in the year-ago period. Its profit after tax from continuing operations also surged 37.5 per cent YoY to NGN28.2bn from NGN20.5bn. In the third quarter of the year, revenue advanced 31.4 per cent to NGN59.34bn from NGN45.17bn in the 3Q20. Profit after tax from continuing operations reached NGN4.87bn, up 2.8 per cent from NGN4.73bn last year. |
Lafarge Africa looks to scale-up Nigeria's road infrastructure14 October 2020, Published under Cement NewsLafargeHolcim Africa hosted a webinar on approaches to rapidly upscaling Nigeria's Economic Infrastructure, yesterday. Nigeria’s Honourable Minister of Works & Housing Guest of honour, Babatunde Fashola, led the discussions emphasising that the government is committed to renew, review and increase Nigeria’s infrastructure. Babatunde Fashola argued that Nigeria stopped investing in infrastructure in the 1970s and that it must get back to investing something similar today by investing a s... |