Cement News tagged under: Project Finance

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MI Cement to raise debt for Bangladeshi grinding unit

19 April 2019, Published under Cement News

MI Cement Factory Ltd is expected to raise foreign currency loans from HSBC and Standard Chartered Bank to finance its sixth line at its West Mukterpur, Munshiganj district of Bangladesh, according to the company’s Senior General Manager, Mozharul Islam. The US$70m project will add 8400tpd of grinding capacity to the site’s current capacity of 19,400tpd. Commercial production at the new unit is scheduled to start in January 2021.

Maple Leaf issues right share to finance expansion

16 August 2017, Published under Cement News

Maple Leaf Cement Factory Ltd will issue a right share to partially finance a 7300tpd clinker production line at Daud Khel in Iskanderabad, Mianwali, Pakistan. According to a statement to the Pakistan Stock Exchange, Maple Leaf's Board of Directors has recommended an issuance of 12.5 per cent right shares by offering 65,966,740 right shares to existing ordinary shareholders a price of PKR65/share (including a premium of PKR55/per share) in proportion of 12.50 right shares for every 100 ord...

Canada: McInnis Cement CEO quits after new plant cost overruns

05 August 2016, Published under Cement News

The chief executive officer of McInnis Cement, Christian Gagnon, has stepped down after it emerged that the cost of constructing the company’s new 2.2Mta Port-Daniel integrated plant had gone over budget by CAD450m (US$346m). McInnis’s investment was partly financed by government bodies, including Quebecois provincial authorities and also included a CAD360m (US$277m) loan from the National Bank of Canada. According to Radio-Canada, when news of the spiralling costs of the project first...

Loan agreed for phase 2 of Song Lam cement plant

24 February 2016, Published under Cement News

The Bank for Investment and Development of Vietnam (BIDV) has agreed to lend the Hoang Phat Vissai Group VND7trn (US$311.11m), the lion's share of which will go towards developing the Song Lam cement plant in the central Vietnamese province of Nghe An. Under the agreement, which was signed at the 2016 Spring Meeting, VND6.02trn of the total will be used to develop Phase 2 of the Song Lam cement plant and VND965bn for the construction of international seaport project in Nghi Thiet commune, N...

Vietnam: Thanh Thang Cement Corp signs credit agreement for new second line

23 October 2015, Published under Cement News

Bank for Investment and Development of Vietnam (BIDV) on Wednesday signed a credit contract with Thanh Thang Cement Corp to develop a second line at the Vietnamese cement producer's plant in the northern province of Ha Nam. Under the agreement, BIDV will lend VND3.5trn (US$155.56m) to the project which requires a total investment of VND4.8trn, the Thoi Bao Kinh Te Vietnam newspaper reported Thursday. The project covers 56.8ha in Thanh Nghi commune, Thanh Liem district, and has a clinker ca...

Shangfeng Cement to raise funds for expansion

29 September 2015, Published under Cement News

Chinese cement producer Shangfeng Cement Co Ltd announced Tuesday to raise no more than CNY1.5bn (US$235.78m) via private placement for overseas expansion. The company will issue no more than 161.12m shares at a price of 9.31 yuan per share. The money will be earmarked to invest in two overseas projects including a 3200tpd line in Tajikistan and a 3200tpd  line in Uzbekistan. According to the feasibility study report, the annual revenue and profit of the production line in Tajikistan is ex...

Aboitiz secures loan to part-fund cement venture

25 August 2015, Published under Cement News

Aboitiz Equity Ventures, Inc. (AEV) has signed an agreement for a US$400m (PHP18.7bn) loan that will partly finance its venture into the cement sector in the Philippines. In a disclosure to the stock exchange dated 20 August 2015, AEV said it "signed a facility agreement with The Bank of Tokyo-Mitsubishi UFJ, Ltd to obtain a bridge loan" of up to US$400m. "The proceeds of the loan will be used to partially finance AEV's investment in holding companies for the purpose of the acquisitio...

UltraTech Cement seeks shareholders approval for NCD issue, India

03 August 2015, Published under Cement News

The board of UltraTech Cement Ltd has sought shareholder approval to raise up to INR90bn rupees via issue of non-convertible debentures (NCD) on a private placement basis, the company said in a release to the exchanges today. The proceeds from the NCD issue will be used to finance ongoing capital expenditure, repay existing loans or for general corporate purposes.

TPIPL to issue debentures to refinance debt

16 July 2015, Published under Cement News

TPI Polene Plc (TPIP), Thailand's third-largest cement-maker, says it will issue five tranches of THB17bn (US$497m) worth of unsubordinated debentures to retail and institutional investors next month, with coupon rates ranging between 4.1-5.2 per cent, the Bankok Post reports. Chief executive Prachai Leophairatana said the first lot would be a three-year debenture carrying a coupon rate of 4.1 per cent while the second tranche for four years carries a coupon rate of 4.4 per cent. The third ...

VietinBank to finance Tuyen Quang plant

09 April 2015, Published under Cement News

Vietnam Joint Stock Commercial Bank for Industry and Trade, or VietinBank (CTG) on has signed an agreement with Tan Quang Cement JSC to finance the latter’s cement plant in the northern province of Tuyen Quang. Under the agreement, Vietinbank will lend VND30bn (US$1.4m) to Tan Quang Cement JSC to develop its plant which has a clinker capacity of 2500tpd or 0.75Mta, and a cement capacity of 0.91Mta. Tan Quang Cement JSC is an affiliate of Vietnam National Coal-Mineral Industries Group (V...