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Bank of America to arrange investor meetings for Cimento Tupi, Brazil

24 January 2012, Published under Cement News

Brazilian cement producer, Cimento Tupi has enlisted Bank of America Corp to arrange meetings with bond investors as the company looks to expand cement capacity in its thriving domestic market. Bloomberg reported that the meetings are scheduled to run from 23-25 January in Europe and the US, a source close to the situation said. In May 2011, the company sold a US$100m bond with a seven-year maturity overseas, below the initial target of US$100m. The debt, which is callable in 2015, car...

Semen Gresik forecasts 17% rise in revenue, Indonesia

24 January 2012, Published under Cement News

Semen Gresik expects revenue rising 17 per cent this year from an estimated 12 per cent in 2011, and also expects to raise financing this year for two new projects. . According to according to chief executive, Dwi Soetjipto, the company forecasts sales of 23Mt from the 19.8Mt recorded in 2011, Dow Jones reported. Profits are expected to rise by 10 per cent on the back of increased sales and improved efficiency. The construction of the company’s two new cement plants in Tuban, East Java...

New Benin plant to be constructed

24 January 2012, Published under Cement News

Nouvelle Cimenterie du Bénin (Nocibé) is to construct a 1.5Mta cement plant in Benin, company CEO Latfallah Layousse, said. A contract for the new plant was signed on Friday, according to local press reports. The Nocibé plant will be established in the town of Massa, about 50 miles east of Cotonou, the capital of Benin. Nocibé is led by Groupe Layousse of Ciment de Sahel (Senegal). Units of Ecobank Transnational Inc. and Societe Generale SA are among five banks giving a loan of CFA170b...

US company to invest in new Nigerian project

24 January 2012, Published under Cement News

A USA-based investment group has announced is to construct a 1.5Mta cement plant and 600MW power plant in the southeastern state of Ebonyi, Nigeria. Local newspaper, The Nation, reports that the Califco Group together with development partners, Cross River International Consulting and in conjunction with Ebonyi state government aims to revitalise cement production in the state as well as create employment. The investment is said to be around US$1.5bn, the Nigerian Tribune reports. The ...

UltraTech 3Q net profit rises 93% on improved demand

23 January 2012, Published under Cement News

India’s largest cement producer, UltraTech Cement, reported a 93 per cent rise in 3QFY12 net profit thanks to a double-digit rise in cement demand but energy costs continue to weigh on the company's margins. However, the company says it is on-track with its expansion programme, namely two clinker plants which will raise capacity by 92Mta in just over a year's time. The Aditya Birla Group company reported that net sales rose 23 per cent to INR4572 crores compared to INR3715 in the correspo...

Eurocement breaks ground on new Volga project, Russia

23 January 2012, Published under Cement News

Eurocement Group, Russia’s leading cement producer, has held a groundbreaking ceremony for a new plant in the Samara, Volga region which is part of the company’s impressive multibillion expansion programme. The new Samara plant will have a clinker capacity of 6200tpd (2.4Mta of cement) and is planned to be launched in 2015. The investment includes a total of RUR16bn (US$508.8m), the Russian Financial Control Monitor reported. Eurocement plans to spend US$2bn to add 8.1Mta of cement ca...

Al Jouf awards contract for Line No 2, Saudi Arabia

23 January 2012, Published under Cement News

Saudi cement producer, Al Jouf Cement, has awarded China’s Chengdu Design & Research Institute the contract for the construction of a second production line with a capacity of 5000tpd. The contract value is SAR885m (US$236m). The project is to be financed with a combination of Al Jouf’s own funds and debt and is scheduled to take 25 months to complete.

Discussions on proposed Pati plant continue, Indonesia

19 January 2012, Published under Cement News

A planned cement plant by Indonesia’s PT Sahabat Mulia Saksi has entered initial discussions with a team of experts and will then proceed to the environmental impact analysis stage (Amdal). The Head of the Environmental Agency, Pati branch, said that the building of the cement plant in Pati has entered discussions with a number of Indonesian universities before formulating the Amdal. "The meeting of the Amdal technical team of the construction of the cement plant in Pati today was attende...

Cemento Andino expansion set for April completion

19 January 2012, Published under Cement News

Expansion work at Cemento Andino’s clinker plant is expected to be completed in April this year, reports Generacion of Peru. The investment will see the company’s capacity increase by 60 per cent (70,000tpa) to reach 2.1Mt.

GHACEM to raise capacity as demand thrives

17 January 2012, Published under Cement News

GHACEM, the leading cement producer in Ghana, has reported that domestic cement demand increased by a record 22 per cent last year  on the back of robust economic growth and oil activity, particularly in the western region of the country. Speaking at a GHACEM awards event, managing director Morten Gade, said his company is investing in expansion to improve capacity at both the Takoradi and Tema plants to meet rises in demand expected in 2012.  “GHACEM being mindful of the positive grow...