Cement News tagged under: Project Finance
UltraTech Cement plans to raise US$100m from IFC06 February 2013, Published under Cement NewsUltraTech Cement plans to raise approximately US$100m from the International Finance Corporation (IFC) to support its US$297m expansion in Chhattisgarh. According to local media, the company plans to increase clinker production capacity at its integrated plant in Chhattisgarh, eastern India. The report added that the IFC has already started working with the company to identify resource efficiency opportunities for diminishing the company’s carbon footprint. Moreover, the IFC is also l... |
Development Bank of Ethiopia withdraws Habesha Cement loan31 January 2013, Published under Cement NewsThe Development Bank of Ethiopia (DBE) has withdrawn an ETB1.52bn (US$82.9m) loan agreement made with Habesha Cement for construction of a new plant. The bank had approved the loan last year which was expected to cover over 70 per cent of the financing for the proposed factory. However, the DBE has now withdrawn the offer on the grounds of inability to disburse funds at this time. It has similarly pulled out of loan agreements with five other companies. The bank has pledged to aid the co... |
Investing in Iranian cement production29 January 2013, Published under Cement NewsIran’s Bank of Industry & Mine, a specialised government-owned bank which aims to increase economic growth through the development of the industry and mining sectors, has allotted around EUR400m to fund 15 cement projects over the past three years, IRNA News Agency has reported. Latest figures on the cement sector show that Iran's cement output will reach 75Mt, by the end of current Iranian calendar year (19 March 2013), according to Deputy Iranian Industry, Mine, and Trade Minister, Vaj... |
Taiwan Cement Corp secures syndicated loan, Taiwan22 January 2013, Published under Cement NewsTaiwan Cement Corp (TCC) has secured a five-year oversubscribed syndicated loan of TWD14bn (US$48.29m) from 12 banks, including two Chinese lenders, the company said in a press release. TCC had planned to raise TWD12.5bn to meet its debts, long-term equity investments and operational costs, the company said in a statement issued after the signing ceremony. The six main lenders are Mega International Commercial Bank, Chinatrust Commercial Bank, Taipei Fubon Commercial Bank, Taiwan Coope... |
FLSmidth secures EIB funding for R&D investments16 January 2013, Published under Cement NewsFLSmidth has signed an EUR125m loan agreement with the European Investment Bank (EIB). The five-year-bullet loan will finance FLSmidth's global research and development programme within the cement industry during the period 2013-2016. The R&D programme will focus on development of innovative products, optimisation of energy efficiency and use of materials and fuel in the production process as well as reduction of harmful emissions. "Through its focused R&D efforts FLSmidth aims at fulfi... |
Thach My secures new loan, Vietnam15 January 2013, Published under Cement NewsThe Bank for Investment and Development of Vietnam (BIDV) is to provide a loan to Thach My for its new cement plant under construction in the central province of Quang Nam Local media report that the BIDV will loan nearly VND2trn (US$95.83m) to the plant which has a design capacity of 2Mta. The plant was identified as a key project of the Quang Nam province when it started construction in 2010. The new works is expected to be completed in June 2013. |
Gresik achieves record production in 201204 January 2013, Published under Cement NewsState-owned Indonesian cement producer PT Semen Gresik achieved record production last year and targets further increases this year, according to a senior member of the company. Cement production rose 18 per cent in 2012 to 22.6Mt and revenue is expected to hit IDR19trn (US$2bn). “We hit a record in terms of production,” said the company’s president director Dwi Soetjipto in Gresik early this week. Revenue reached IDR18.43trn in the first nine months of 2012 and net income was IDR4.55... |
Semen Gresik sets US$400m for 2013 capex02 January 2013, Published under Cement NewsIndonesia’s largest cement producer PT Semen Gresik has set US$400m in capital expenditure for its corporate business activities, according to its president Dwi Soetjipto. "The expenditure will be used to carry out a number of corporate business activities such as continuing the company`s transformation into a holding firm, namely PT Semen Indonesia Tbk," Mr Soetjipto, told reporters. He said that the other corporate activities included the integration of Thang Long, a Vietnamese firm i... |
Fitch affirms Central Asia Cement rating revises Outlook upward, Kazakhstan17 December 2012, Published under Cement NewsFitch Ratings has affirmed Central Asia Cement's (CAC) National Long-Term Rating at 'BB-(kaz)' and revised the joint stock company's Outlook to Positive from Stable. The agency has also affirmed CAC's senior unsecured KZT1.5bn bond rating at 'B(kaz)'. "The completion of Steppe Cement's capital increae reinforces CAC's financial structure and should allow financing of the investment in the Line 5 refurbishment, while reducing leverage," Fitch said in a statement, adding: "The group is sti... |
Hail Cement signs loan agreement, Saudi Arabia14 December 2012, Published under Cement NewsSaudi Arabian cement company Hail Cement announced that it has signed a loan agreement with the Saudi Industrial Development Fund on 12 December 2012. The loan amount is SAR300m (US$80m) repayable in 20 half-yearly unequal installments as scheduled and approved against mortgage of all fixed assets. The period of the loan is 12 years, with payment starting 2015. The company is using the loan to fund the development of a new cement factory in the city of Hail, according to a statement ma... |