Cement News tagged under: Morocco
Morocco October cement sales down 18.6% YoY13 November 2013, Published under Cement NewsMorocco’s cement market continues to contract with October sales falling by 18.63 per cent YoY, according to data from the Ministry of Housing, Planning and Urban Policy. While the Doukkala-Abda region noted the largest increase in cement sales of eight per cent to 887,179t in October, the key Greater Casablanca market registered a 12.3 per cent YoY drop to 1.637Mt. The slide is closely related to the slowdown in activity in the real estate and public works markets. The government’s M... |
Moroccan cement sales continue to slide02 October 2013, Published under Cement NewsThe recent declining trend in Moroccan cement demand persisted in August, when the market contracted by 10.2 per cent. During Jan-Jul 2013, cement consumption fell 11.7 per cent due to harsh winter weather characterised by heavy rainfall, according to the country’s finance ministry. Cement companies produces 22Mt during the seven-month period but were only able to sell 16Mt. |
Moroccan sales slide 12.6% in first six months29 August 2013, Published under Cement NewsIn the first half of 2013 Moroccan cement sales fell 12.6 per cent YoY to 7.8Mt, although the pace of decline significantly eased in the second quarter, latest statistics from the Directorate of Studies and Planning of the country’s Ministry of Economy and Finance show. While the market continues to contract, second-quarter sales fell by four per cent, far less than the 21 per cent drop recorded in the first three months of the year. The downward trend, attributed to heavy rainfall which l... |
Moroccan 1H13 double digit sales fall10 July 2013, Published under Cement NewsCement sales in Morocco have hit a new low, with 1H13 figures noting a 12.6 per cent fall YoY as the real estate and public works sectors experienced a slowdown in activity. The downturn in the real estate sector is particularly prevalent in medium-sized and top-end housing construction. Meanwhile, public works have felt the impact of the government’s decision to cut its investment budget by MAD15bn. Moreover, the expansion of the infrastructure segment during 2008-12 has now come to ... |
Morocco’s 2013 consumption forecast to fall 8%21 June 2013, Published under Cement NewsThe Moroccan cement market is expected to end the year significantly down. At the end of 2012, the country noted an 11.5 per cent decline in housing starts, impacting on cement demand going forward, according to a report by BMCE Capital. In late April, cement sales fell 16.5 per cent and this figure was followed by a 14.5 per cent cut one month later. For July, consumption is not expected to recover as the country enters Ramadan and other religious holidays will further depress demand ... |
CIMAF starts Gabon cement plant construction18 June 2013, Published under Cement NewsMorocco’s Ciments de l’Afrique (CIMAF) laid down the first stone at its new cement works in Gabon on 13 June. Located in Owendo, some 15km south of Libreville, the XAF9.67bn (US$19.6m) cement plant will have an initial capacity of 0.5Mta. Group CEO, Anas Sefrioui, said: "We want, through these investments, contribute to the harmonious development of the Gabonese nation, the welfare and prosperity of its citizens, and support major projects launched by President Ali Bongo Ondimba, whos... |
Morocco’s cement demand falls 16.5% in first four months23 May 2013, Published under Cement NewsDuring the first four months of the year, cement demand in Morocco fell by 16.5 per cent from 6Mt to just under 5Mt as the start of the year was affected by heavy rainfall, according to the country’s cement association. In addition, faltering demand from key consumers sent sales on a downward trend. A new tax regime relating to the income of sale of land further restrains the real estate market as does the lower level of self-construction projects. Geographically, the Tadla-Azilal and T... |
Moroccan cement market down 18% in 2M1329 March 2013, Published under Cement NewsCement demand in Morocco during the first two months of the year fell by 18 per cent as the recovery of the construction sector remains out of reach. Total cement consumption over the two months is 2.4Mt. Public works are feeling the pinch as is the new tax regime on the sale of undeveloped land. Capital gains on these sales have seen an increase in tax rate from 20 to 30 per cent on land held for more than five years. Meanwhile, cement prices remain stable at MAD1100. |
Italcementi launches five-year bond, Italy25 February 2013, Published under Cement NewsItalcementi, the fifth-largest cement producer in the world, has launched a five-year bond of EUR350m at an issue price of EUR99.477 and a coupon of 6.125 per cent, according to reports in La Stampa. At the closure of the placement, orders exceeded EUR 2.5bn. Credit rating agency Moody's has rated the Italcementi bond Ba2 with a "negative" outlook. For 2013, Moody's expects Italcementi to face challenging market conditions in its key markets Egypt and France and, to a lesser extent, in Mor... |
CIMAF builds cement plant in Burkina Faso23 January 2013, Published under Cement NewsMorocco’s Ciments d’Afrique (CIMAF) is building a cement works in the industrial zone of Kossodo, Burkina Faso. On Saturday, 19 January 2013 the first stone was laid in the presence of the country’s prime minister Luc Adolphe Tiao, members of the government and Anas Selfrioui, CIMAF president. The new 0.5Mta cement production facility represents an investment of XOF20bn (US$41m) and result in 200 direct and indirect jobs. Commissioning of the plant is scheduled for late 2014 and it... |