Cement News tagged under: corporate

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Dalmia to build 0.5Mta carbon capture facility

20 September 2019, Published under Cement News

As part of its drive to become a carbon-negative by 2040, Dalmia Cement announced plans to build a 0.5Mta carbon capture facility at its cement plant in Tamil Nadu in 2-3 years. “The company is committed to become ‘carbon-negative by 2040’, and capturing process emissions from cement manufacturing will be critical towards reaching the target of net zero by 2040,” said Mahendra Singhi, MD and CEO, Dalmia Cement (Bharat) Ltd. The approach is to set up scalable large demonstration projects o...

Phinma Corp set to invest in Vietnam's Song Lam Cement

20 September 2019, Published under Cement News

Philippine-based Phinma Corp is set to invest in Vietnam’s Song Lam Cement JSC through the acquisition of preferred shares worth PHP2.6bn (US$50m). Song Lam will now become a major supplier of PhilCement Corp, which is 60 per cent owned by Phinma, according to a company disclosure. Following the investment, Phinma will be entitled to nominate one member of Song Lam’s board of directors and the chief financial officer of the company. In the 1H19 Phinma saw its consolidated net income inc...

Maple Leaf Cement profit falls by 60% in FY19

20 September 2019, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) of Pakistan announced its financial results for FY18-19 today. It declared earning a net profit of PKR1.465bn (US$9.3m) (unconsolidated) as compared to PKR3.632bn earned in the same period last year. It shows profit dropped by 59.7 per cent, despite on a good development, when the company sales stood at PKR26bn, compared to PKR25.69bn in the same period last year.   In a notification to Pakistan Stock Exchange (PSX), MLCF announced a final cash dividend ...

Semen Indonesia reports 4% drop in August sales

19 September 2019, Published under Cement News

Semen Indonesia reported a four per cent fall to 2.789Mt in total sales in August 2019 when compared with the previous year, when the company achieved sales of 2.904Mt. In July 2019 sales slipped by 2.6 per cent YoY to 2.706Mt. Of the total, domestic sales of 2.466Mt were reported, down 5.1 per cent YoY. This follows a six per cent YoY drop in July, when sales to Indonesian customers stood at 2.354Mt. Exports advanced by 5.6 per cent YoY to 323,101t following a 29.5 per cent rise to 352,55...

RHI Magnesita set for Indian consolidation

18 September 2019, Published under Cement News

RHI Magnesita is now in the final stages of consolidating its three Indian arms to become the largest refractory company in the country, with approval from the National Company Law Tribunal (NCLT) expected within a week, according to The Economic Times. The three companies, Orient Refractories, RHI Clasil and RHI India, would all become RHI Magnesita India. "We are in the final stages of consolidating our three arms in India into a single entity. We hope to get the interim approval within ...

DG Khan Cement profit falls in FY19

17 September 2019, Published under Cement News

DG Khan Cement Company Ltd (DGKC) of Pakistan has announced its financial results for FY19 on 16 September. It declared earning of net profit of PKR1.609bn (US$10.3m) (unconsolidated) as compared to PKR8.837bn earned in the same period last year. It shows profit hugely dropped by 81.8 per cent. The fall in profit is reportedly due to increase in the cost of sale to PKR35.15bn from PKR21.92bn and finance cost from PKR574m to PKR3.6bn during this period despite increase in sale. The company s...

Fancesa's new plant 85% complete

17 September 2019, Published under Cement News

The construction of the new cement plant of Fábrica Nacional de Cemento Sucre SA (Fancesa) in Cal Orck'o, Bolivia, is 85 per cent complete, according to the company’s President, Armin Cortez. "The new production line of the Fábrica Nacional de Cemento Sucre SA, to date is at 85 per cent of physical execution and 81 per cent of financial execution, and it was possible to meet the goals planned within the contract, there are problems in some areas, but they will not affect the normal fulfilme...

Lucky Cement updates progress on overseas and local projects

16 September 2019, Published under Cement News

Lucky Cement is currently implementing two cement projects:  the overseas cement plant in Samawah in Iraq and the 2.6Mta brownfield cement plant expansion in Khyber Pakhtunkhwa province, Pakistan. According to Lucky Cement's annual report for 2019, the first shipment of plant and machinery from Sinoma to the Samawah site is expected to start of October 2019. Commissioning will take place in FY20-21.   Similarly, the letter of credit for the power plant in Iraq has been established and s...

Asian Fine Cements launches new packaging

16 September 2019, Published under Cement News

India’s Asian Fine Cements Pvt Ltd has introduced the country’s first vacuum-tight packaging to the market for its Duraton7X cement. The packaging is expected to reduce water seepage and dust emissions, alongside increasing shelf-life. "We set up a big cement manufacturing facility at Rajpura in Punjab about one-and-a-half years ago with installed capacity of 1.5Mta. As of now we have launched our cement products in the Punjab, Haryana, Himachal Pradesh, Jammu Kashmir states and Union Terr...

Oman Cement Co appoints consultancy for Duqm plant

16 September 2019, Published under Cement News

Oman Cement Co has appointed “a leading consultant company” to work on its upcoming Duqm cement plant as a project consultant, reports New Vision. While it did not name the consultancy, it confirmed that its Duqm integrated plant would have a capacity of 5000tpd. The project, which was approved by the company’s board of directors in December 2018, represents an investment of around US$212m.