Cement News tagged under: South Asia

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CASEC to increase stake in CEMEX Philippines

27 January 2023, Published under Cement News

CEMEX Asian South East Corp (CASEC) is increasing its stake in CEMEX Holdings Philippines Inc (CHP) from 77.89 per cent to 89.86 per cent by acquiring an additional 11.97 per cent through a PHP2.1bn (US$38.5m) tender offer, reports Manila Bulletin. In a disclosure to the Philippine Stock Exchange (PSE), CEMEX said the tender offer will reduce its public float from the current 22.11 per cent to 10.14 per cent, However, it noted that the tender offer is not being made with the intention ...

Sublime Systems secures funding for low-carbon cement

18 January 2023, Published under Cement News

US-based Sublime Systems has raised US$40m to develop new technology to produce low-carbon cement. According to Bloomberg, Sublime has come up with a process that reduces energy use and carbon emission by splitting the cement-making process into two parts.  The first step is the production of calcium in a form that will chemically react with silicon, the key element in sand. Sublime reduces energy use and carbon emissions in this step by avoiding limestone and using electricity rather tha...

CEMEX Phillipines and Manila Water Co collaborate on sustainability

18 January 2023, Published under Cement News

CEMEX Holdings Philippines (CHP) has signed a Memorandum of Understanding (MoU) with Philippines-based Manila Water Co to collaborate on sustainability initiatives. Under the MoU both parties will look to accelerate their sustainable objectives on circular economy through the use of biosolids as alternative fuels, reports Manila Bulletin. They will also explore partnering on innovations in sustainable products and services, protection and rehabilitation of biodiversity, and clean energy an...

VICEM records 30% drop in profit in 2022

09 January 2023, Published under Cement News

Vietnam’s VICEM has reported profits of VND1.53trn (US$63.9m) in 2022, down 30 per cent YoY. Revenue, meanwhile, advanced 17 per cent to VND39.45trn over the same period, reports VN Express. Last year saw total sales of 27.5Mt, marking a 6.7 per cent decline YoY, driven by a fall in exports. Costs in 2022 increased by VND4trn on the back of rising raw material prices. Although VICEM did increase cement prices, that was insufficient to prevent the sharp fall in profits. It has set a reve...

Sarawak considers importing cement from Thailand

23 December 2022, Published under Cement News

The Borneo-based Sarawak Economic Development Corp (SEDC) and the Bintulu Development Authority (BDA) are planning to create a joint venture to import cement from Thailand to address the supply shortage in the state of Sarawak. According to the Borneo Post Online, imports could total 0.5-1Mt from 2023. SEDC and BDA visited Siam Cement Group (SCG) in Bangkok recently to discuss the proposal.  Due to the shortage of cement in Sarawak, cement prices in the state are 15 per cent higher tha...

Philippines imposes duties on Vietnam cement imports

22 December 2022, Published under Cement News

The Philippines’ Department of Trade and Industry (DTI) has imposed duties on cement imports from Vietnam for five years. In a department order dated 16 December 2022, Trade Secretary Alfredo E Pascual said dumping of ordinary Portland cement Type 1 and blended cement Type 1P from Vietnam in the country poses an "imminent threat of material injury to the domestic cement industry". The move comes after the DTI reviewed the final report of the Tariff Commission (TC) regarding its invest...

Siam Cement Group enters JV for new ACC plant

09 December 2022, Published under Cement News

Thailand-based Siam Cement Group (SCG) has entered into a joint venture (JV) with India’s BigBloc Construction (BCL) to build a greenfield plant to manufacture aerated autoclaved concrete (AAC) blocks and AAC panels. The JV, known as Siam Cement BigBloc Construction Technologies, is 52 per cent controlled by BCL and 48 per cent controlled by SCG. The new works marks an investment of INR650m (US$7.9m), according to Financial Express, and will be located in the Kheda district, near Ahmed...

Thailand looks to Philippines for exports

07 December 2022, Published under Cement News

The Philippines government has decided not to extend a tax on imports of cement. The levy on imported cement was first introduced on 22 October 2019 for three years. In the first year the tax was PHP250/t (US$4.5/t), which then fell to PHP245/t in the second year and PHP200/t in the third year. With the tax due to expire on 21 October 2022, the Philippine Tariff Commission began an enquiry in February this year as to whether the tax should be extended or not. According to rules set out by...

INSEE Vietnam begins construction on new mill

05 December 2022, Published under Cement News

INSEE Vietnam , a subsidiary of Thailand’s Siam City Cement Public Company Ltd (SCCC), has begun construction of its Thi Vai grinding mill No2. The new mill, which marks an investment of over US$35m, will help meet rising cement demand in the Southeast region, according to Vietnam News.

Eagle Cement delists from Philippine Stock Exchange

01 December 2022, Published under Cement News

Eagle Cement Corporation has gained the approval of its shareholders to delist from the Philippine Stock Exchange (PSE). According to the company, not one shareholder voted against the proposal. “Therefore, as stated in the Definitive Information Statement distributed in relation to such request for stockholders’ approval via written assent, the voluntary delisting of the corporation from the PSE has been approved by the stockholders as of the date hereof,” Eagle Cement said in a state...