Cement News tagged under: Project Finance
Semen Indonesia outlines 2015 capex07 August 2014, Published under Cement NewsSemen Indonesia has earmarked US$500m in capex next year in anticipation of an increase in infrastructure projects over the next five years, its president director has said. Dwi Soetjipto told the Jakarta Post that the state-owned cement producer will use the investments to build or upgrade cement plants and to improve the company’s distribution network. Dwi added that the company aims to produce 40Mta of cement by 2017. He expects demand to jump over the 2014-19 period due to infrastruct... |
Mongolia: Senj Sant receives EBRD loan05 August 2014, Published under Cement NewsThe European Bank for Reconstruction and Development (EBRD) has signed a deal to loan Senj Sant US$65m for a new greenfield cement plant in southern Mongolia, about 450km from the capital Ulaanbaatar. The agreement, signed at a ceremony recently by EBRD First Vice President Phil Bennett, follows an earlier US$20m equity investment for a stake in Senj Sant agreed in May 2013. “This project represents yet another step towards the diversification of Mongolia’s economy,” Mr Bennett said at the... |
McInnis Cement completes financing for Port-Daniel plant, Canada04 August 2014, Published under Cement NewsMcInnis Cement has announced the completion of the financial structure for its cement plant in Gaspé, Canada. National Bank of Canada, as sole bookrunner of the bank syndicate, has confirmed the availability of a US$360m loan for the project. This amount is in addition to the US$500m in equity from private and public investors including the joint venture formed by the groupe Beaudier and La Caisse de dépôt et placement du Québec, as well as the participation of Investissement Québec (IQ). ... |
PPC Zimbabwe set for Harare plant construction29 July 2014, Published under Cement NewsPPC Zimbabwe said that preliminary work for a new plant in Harare is complete and construction is scheduled to begin next month. The country’s leading cement producer has reportedly secured approximately US$18m for the construction of the grinding facility, managing director, Njombo Lekula, told The Herald Business last week. Road access network to the Harare plant has been completed and a temporary office has already been set up, paving the way for construction to begin in August. Mr L... |
Umm Al-Qura signs financing agreement, Saudi Arabia22 July 2014, Published under Cement NewsUmm Al-Qura Cement Company announced the signing of an Islamic financing agreement with The Saudi British Bank (SABB) on 22 July for SAR 618.874m. The financing has a tenor of three years and is for specific project financing needs. |
OCC inks financing agreement for new mill project01 July 2014, Published under Cement NewsThe Oman Arab Bank (OAB) has signed new banking facilities to Oman Cement Company (OCC) for its new cement mill No 5 project, including a term loan in addition to letters of credit. The Times of Oman reported that the agreement was signed by Jamal bin Shamis Al Hooti, CEO of OCC and Amin Al Husseini, CEO of the Oman Arab Bank. |
Semen Indonesia provides loan to Gresik, Indonesia12 June 2014, Published under Cement NewsSemen Indonesia is to provide a IDR5trn loan (US$421.76m) to subsidiary Semen Gresik to partly finance the latter’s new cement plant in Central Java, according to an announcement posted on the Indonesia Stock Exchange. The loan agreement, which amounts to IDR5.07trn when taking interest into account, was signed on Monday. Semen Gresik is constructing an 8000tpd greenfield works situated just outside the city of Rembang in the northeastern part of central Java. The new factory is expecte... |
Eurocement and Sberbank sign agreement29 May 2014, Published under Cement NewsEurocement Group and Sberbank of Russia have signed a cooperation agreement to secure funding for the construction of new plants in Russia. The agreement was signed by Filaret Galchev, Eurocement’s chairman of the board of directors, and Herman Gref, CEO and chairman of Sberbank during the XVIII St Petersburg International Economic Forum. The investment will allow Eurocement to increase its share of dry-process production to 100 per cent by 2018. By the time the programme reaches its conc... |
Goltas Goller Bolgesi Cimento inks loan for investment finance19 May 2014, Published under Cement NewsTurkish cement maker Goltas Goller Bolgesi Cimento Sanayi ve Ticaret said Friday it will sign a US$42m loan agreement with local lender Yapi Kredi to finance its investments. The company will mortgage a US$54.6m property located in the southwestern Turkish province of Isparta as collateral for the loan, it said in a bourse filing. |
Mamba Cement to build new South Africa plant14 May 2014, Published under Cement NewsNedbank Capital and the Bank of China Johannesburg have jointly announced the raising of debt capital to fund a new entrant into the South African cement industry. The project is being undertaken by the Mamba Cement Company, a special purpose vehicle established to construct and operate the cement production facility and mine the limestone. The equity required for the project was provided by the Jidong Development Group (majority shareholder in the project), the China-Africa Development... |