Cement News tagged under: West Africa

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BUA Cement achieves net revenue of NGN188.6bn in 1H22

05 August 2022, Published under Cement News

BUA Cement reported net revenue in the 1H22 up 51.7 per cent to NGN188.6bn from NGN124.3bn (US$452m), compared to the corresponding period ended June 2021. This included added volumes for the new line 4 at Sokoto . EBITDA increased by 49.7 per cent to NGN87.5bn from NGN58.4bn comprard to the 1H21. EBITDA margin fell marginally by 0.6 percentage points to 46.4 per cent from 47 per cent, in June 2021. Profit after tax rose 41.4 per cent to NGN61.4bn from NGN43.4bn, in the 1H21. Cement v...

Cimtogo increases delivery prices

04 August 2022, Published under Cement News

From August, HeidelbergCement -owned Cimtogo will increase its delivery costs. "The commercial management has decided to revise upwards the delivery prices of our products throughout the territory in order to ensure the continuity of your activity in the best conditions", informs the note signed by the main directors of Cimtogo. The company will increase its distribution cost tariffs by 15 per cent at the Lomé and Kara plants from 1 August, said the company in a memo. The main reason ...

Dangote Cement's revenue rises 17% to NGN808bn in 1H22

02 August 2022, Published under Cement News

Dangote Cement reported group revenue of NGN808bn (US$1.942bn) in the 1H22, a rise of 17 per cent YoY. Group EBITDA rose by 6.3 per cent to NGN373.2bn and profit after tax fell 10.2 per cent to NGN172.1bn. Group sales volumes totalled 14.2Mt, down seven per cent. Nigerian volumes fell 5.3 per cent to 9.3Mt in the 1H22. Net debt stood at NGN423bn with a net gearing of 54.5 per cent. “Although significant increase in energy and AGO costs are impacting production, we are strengtheni...

BUA to expand Kalambaina plant

27 July 2022, Published under Cement News

BUA Cement is reportedly in talks with the International Finance Corporation (IFC) over a loan to expand its integrated cement plant in Kalambaina, Sokoto State, Nigeria. According to Reuters, the company is looking to increase the plant's cement production capacity from 2Mta to 8Mta. 

BUA approves dividend and sets 2023 deadline for current expansion projects

26 July 2022, Published under Cement News

BUA Cement Plc shareholders have approved dividends of NGN88.047bn (US$96.3m) for the financial year ended 31 December 2021 at NGN2.60k per ordinary share of 50k each. This approval was given during the company’s 6th Annual General Meeting held in Abuja and comes on the back of a strong financial performance in the year under review, which recorded revenue growth of 22.9 per cent from NGN209.4bn in 2020 to NGN257.3bn in 2021. Profits after tax also rose by 24.5 per cent YoY to NGN90.1bn in...

Dangote Cement partners with UNEP

18 July 2022, Published under Cement News

Dangote Cement has formed a partnership with the United Nations Environment Programme, the National Environmental Standards and the Regulations Enforcement Agency as part of its initiatives to promote environmental sustainability. The announcement comes as the company commemorates World Environment Day 2022 at all 14 of its production plants across Nigeria and the rest of Africa, reports The Punch. According to Dr Igazeuma Okoroba, head of sustainability at Dangote Cement, "World Enviro...

Mangal Industries Ltd performs plant groundbreaking ceremony

18 July 2022, Published under Cement News

Mangal Industries Ltd has performed the groundbreaking ceremony of a greenfield cement plant in Iluagba, Kogi State, Nigeria. Mangal Industries had signed a US$600m deal with Sinoma International Engineering, of China, for the construction of a 3Mta cement plant and a 50MW captive power plant in Kogi State. Mangal Industries Ltd's Managing Director, Engr Fahad Mangal said shortly after the ceremony that the project is expected to be completed by the end of the 1Q24. According to him...

Burundi: Dangote's next stop?

12 July 2022, Published under Cement News

Dangote Cement Zambia’s CEO, Vipul Agrawal, has assured the Burundi government that its company will not only help to address the scarcity of cement in the country in the short term but also find a long-term solution. Burundi has large limestone, magnesium oxide and silica deposits in the northwest. As a result, the government has invited Dangote to build a cement plant in the country. The government requested Dangote to work out the modalities for the supply of construction materials an...

Bagged cement price sees 22% rise in Côte d’Ivoire

28 June 2022, Published under Cement News

The price of bagged cement in Niakara, Côte d’Ivoire, has increased by 22% to XOF110,000/t (US$177.53/t) from XOF90,000/t reported Agence Ivoirienne de Presse. "From now on, we are selling the 50kg bag of cement at XOF5500 against XOF4500, the usual price, so we make the tonne of cement at XOF110,000 and not at XOF90,000 as before," according to one manager of a hardware store in Niakara. He added that the suppliers attributed the price increase to the Russia-Ukraine war.

Benin government caps cement price

20 June 2022, Published under Cement News

The government of Benin has set a price cap on the price of cement with the new price ceiling dependent on the locality. The price is capped from 17 June 2022 for four months. The government has taken the step “in support of populations faced with soaring prices of consumer products” and during the four-month period the Ministry of Commerce will carry out “strict controls and regular prices.”