Cement News tagged under: Nigeria

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Dangote announces new 6Mta Nigerian plant

02 February 2023, Published under Cement News

Dangote Industries Ltd is building a new integrated 6Mta cement plant in Itori, Ogun state, Nigeria. According to press reports, the plant will be supplied by Sinoma International Engineering and will take Dangote’s Nigerian cement production capacity to 41.25Mta and total African capacity to 57.6Mta. Due to be completed in the first half of 2025, the new facility will have its own captive power plant, and two 6000tpd clinker production lines giving a total daily clinker production cap...

Dangote donates bags for agro-waste and alternative fuel payback

30 January 2023, Published under Cement News

Dangote Cement’s   Ibese plant has donated 25,000 of 100kg capacity bags for management of agro-waste in communities across Nigeria. Being burned or left rotten on the fields by farmers once, agriculture waste, known as agro-waste, has turned into the best alternative fuel for industries. As an eco-friendly initiative, industries have started using agro-waste briquettes along with coal or other non-renewable sources of fuel. Green activists saw increased usage of agro-waste for indus...

Dangote Cement appoints new CEO

20 January 2023, Published under Cement News

Dangote Cement Plc has named Arvind Pathak as the company’s new chief executive/managing director.  Mr Pathak will replace Frenchman Michel Puchercos, who will leave his position at the end of February after three years at as CEO. Arvind Pathak starts in his new position from 1 March. Mr Pathak led India’s Birla Corp, a cement producer, before he became the chief operating officer and deputy managing director of Dangote Cement. He formerly served at Mumbai-based Associated Cement Co L...

Nigeria: challenges abound

23 December 2022, Published under Cement News

Despite the economy being challenged by the COVID-19 pandemic, Nigerian cement demand remained robust in 2020 and 2021. While the country’s longer-term potential remains intact, pressure is building in the short- to mid-term amid slower demand growth, excess capacity and an increasingly difficult operating environment. By Moses Njuguna, EFG Hermes, Nigeria. The Nigerian cement industry has been affected in 2022 by stubborn macro headwinds at play Nigeria’s 2023-25 Medium Term Ex...

Dangote Cement receives CDP rating upgrade

16 December 2022, Published under Cement News

Dangote Cement Plc has had its CDP rating raised from B- to B in recognition of the cement producer’s commitment to climate change. The rating upgrade indicates that Dangote Cement has addressed the environmental impact of its business and ensures good environmental management. This upgrade demonstrates the continued efforts made by the company to increase its levels of non-financial disclosure and improve its sustainability reporting, said Dangote Cement in a statement. This year, for...

Quarterly results propped up by steep price increases

25 November 2022, Published under Cement News

The latest quarterly results reveal that cement producers are increasingly turning to price rises to offset the ongoing jump in energy costs, while they struggle to maintain margins. In addition to price increases, companies are reviewing their energy portfolios, fuel types and accelerating the shift to alternative fuels. In Indonesia PT Indocement  saw its energy costs reach 50 per cent of total production cost in the third quarter of 2022, prompting the company to implement three price...

Dangote wins three FMDQ awards

24 November 2022, Published under Cement News

Dangote Industries Ltd and Dangote Cement Plc have picked up three accolades at the FMDQ Gold Awards - ‘Largest Corporate Bond Lodgment on FMDG’, ’Most Trusted Brand of the Year’ and ‘Most Outstanding Conglomerate in Environmental Sustainability.’ According to FMDQ, the awards recognise excellence in the fixed incomes, currencies and derivatives markets. They also recognise resilience and agility of the Nigerian financial markets participants and acknowledge the valuable efforts of the ...

Dangote sees revenue advance 15% YoY in 9M22

01 November 2022, Published under Cement News

Dangote Cement has reported group revenue of NGN1177.3bn (US$2.68bn) in the first nine months of 2022, up 15.2 per cent YoY. Group EBITDA over the same period advanced by 0.2 per cent to NGN515.9bn, with an EBITDA margin of 43.8 per cent. Profit after tax fell 23.4 per cent YoY to NGN213.1bn, mainly due to exchange losses from the depreciation in the CFA and cede. Group sales volumes in the 9M22 came in at 20.8Mt, down 6.2 per cent YoY. “To mitigate the impact of significant increase in ...

Lafarge Africa posts 23% rise in revenue in 9M22

01 November 2022, Published under Cement News

Nigeria-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...

BUA Cement 's revenue rises by 41% in 9M22

31 October 2022, Published under Cement News

BUA Cement ’s revenue in 9M22 increased by 40.5 per cent to NGN262.6bn (US$5.99m) from NGN186.9bn as at 9M21. Operating profit increases by 31.1 per cent to NGN99.2bn from NGN75.7bn as at 9M21. Profit before tax increased by 19.5 per cent to NGN88.8bn from NGN74.3bn as at 9M21.