Cement News tagged under: Privatisation

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United Cement Group privatises Qizilqum Cement

05 January 2022, Published under Cement News

United Cement Group is privatising Qizilqumcement JSC, according to the investment company UzAssets, which operates under the State Assets Management Agency of Uzbekistan. UzAssets reached an agreement on the sale of a 86.92 per cent stake held by the Uzbek state to United Cement Group through United Cement Group plc for UZS1.89trn. The cost of the transaction significantly exceeds the level of recent similar transactions in the industry, UzAssets notes. United Cement Group undertook obli...

India: Government to sell non-operational CCI units

17 March 2017, Published under Cement News

The government of India has announced that it plans to sell off five non-operational units of the Cement Corporation of India (CCI) as the first step towards complete divestment of the company, the Times of India reports. "As far as CCI is concerned, non-operating units of CCI are to be disinvested first as a part of strategic disinvestment of CCI," Minister of State for Heavy Industries and Public Enterprises, Babul Supriyo, said. The initial sell-off will involve facilities at Mandha...

Afghan government cancels licence on country’s only cement plant

10 February 2017, Published under Cement News

The Afghan Ministry of Mines and Petroleum has cancelled the licence to operate the Ghori cement plant, Reuters reports. The 0.4Mta plant, located in Baghlan province just north of Kabul, was originally state-run, but control was transferred to the private sector in 2006. Last year, ownership of the firm was transferred to Afghan businessman Javid Jaihoon. The government maintains that it was not informed of the change of ownership in advance, in breach of the licencing agreement. Auth...

Egypt: Supreme Administrative Court suspends privatisation appeal

20 January 2015, Published under Cement News

The Supreme Administrative Court has decided to halt proceedings looking into the appeal against the privatisation of Egypt-based Beni Suef Cement Company. The court has ordered that workers are reinstated to the company but has temporarily suspended looking into the privatisation appeal.  The suspension is pending another court decision in a case questioning the constitutionality of a law issued last year, which bans third parties from challenging sales or investment contracts signed betw...

Vietnam approves Vicem privatisation schedule

18 September 2014, Published under Cement News

Vietnam’s Ministry of Construction has approved the privatisation schedule of Vietnam Cement Industry Corporation (Vicem), the country's largest cement producer, under which Vicem will have to sell shares of its parent firm in October 2015. Vicem has been required to announce its corporate valuation by the end of April and submit its privatisation plan to the ministry by end-June, the Dau Tu newspaper reported. Vicem is one of the 432 state-run companies that have to undergo privatisati...