Cement News tagged under: expansion

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Brazil: Votorantim opens BRL860m plant

24 June 2016, Published under Cement News

Votorantim Cimentos opened its 1.2Mta cement plant in Primavera, Pará yesterday. Votorantim expects the plant to reach 50-60 per cent capacity this year. The new works cost BRL860m (US$257.9m) and was planned almost five years ago. The new operation is part of Votorantim's expansion plan, aiming to increase its global capacity to approximately 59Mta by year end 2018. This expansion plan adds to previous investments of BRL12bn (US$3.59bn) made between 2007 and 2015, which resulted in a 94...

Ghana: Dangote aims to speed up expansion work

23 June 2016, Published under Cement News

Dangote Cement Ghana Ltd hopes to quickly complete its new plant being built in Takoradi and in addition to the expanded facility in Tema to increase its silo capacity beyond the current 21,000t. Mr Etornam Komla Buami, the media relations manager of Dangote Cement Ghana said: "The demand for Dangote Cement is increasing by the day and we have no choice than to speed up our expansion works. This is a positive development for the whole of Ghana in terms of job creation and contributions to t...

Pakistan: producers eye northern construction growth

10 June 2016, Published under Cement News

This week saw further evidence of resurgent growth in Pakistan’s cement industry as dispatches rose 10.6 per cent YoY. With the All Pakistan Cement Manufacturers Association (APCMA) relating that the growth in cement sales was solely down to higher domestic demand, there is much for the country’s cement producers to be enthusiastic about going forward, especially if they have strong representation in the north. Overall, per capita cement consumption is one of the lowest in Asia at 166kg, off...


25 May 2016, Published under Cement News

Shares in PPC have plummeted following the company’s announcement that it is preparing a capital raising of up to ZAR4bn (US$256m), whilst also revealing it is in talks with a credit ratings agency what will probably lead to a downgrade. Stock declined last week by as much as 16 per cent, which could prove to the the biggest drop on record. The shares have reportedly declined by 21 per cent for the year so far, compared to a 3.6 per cent gain in the FTSE/JSE Africa All Share Index. The pr...

Pakistan: Attock Cement receives PKR7bn to finance expansion

04 May 2016, Published under Cement News

Attock Cement Pakistan Limited (ACPL) has achieved another milestone of success by signing financial close amounting to PKR7bn (US$66.85m) to part finance new production line of 4000tpd of cement plant. The loan has been arranged by local Punjab Bank with the support of MCB Bank, Allied Bank, Askari Bank and United Bank Ltd.

Lafarge halts EUR20m investment in Sagunto plant, Spain

17 February 2016, Published under Cement News

The management of Lafarge yesterday made public its decision to halt the expansion of its quarry and its plant at Sagunto, Spain, due to “the uncertainty created by the new local government and the lack of viable alternatives,” according to El Mercantil Valenciano. The cement producer had intended to spend around EUR20m in upgrading its plant. In 2013 Lafarge and the town council of Sagunto agreed for the company to accept the limits to the use of its quarrying concession and move to the o...

ACC full-year volumes impacted by mine closure, slow economic start to year

15 February 2016, Published under Cement News

ACC Ltd, part of the LafargeHolcim group, reported a 2.4 per cent decline in 2015 sales volumes to 23.62Mt due to the temporary closure of mines serving its Chaibasa and Bargarh plants in eastern India, and the generally slow pace of the economy earlier in the year. Cement volumes during the final quarter of the year witnessed a turnaround, improving by four per cent YoY to 6Mt. The company’s focus on cost management helped contain overall production costs, despite a contribution to th...

Southern Province Cement Line 2 due for end-June completion

12 February 2016, Published under Cement News

Work on Southern Province Cement's second production line at its Bishah plant in Saudi Arabia has been delayed, according to a company statement to the Saudi bourse. The company added that 83 per cent of the project has been completed so far and is scheduled for commissioning at the end of June 2016. The delay does not have any financial impact, the cement producer said.

India: Shree Cements reports 10% rise in quarterly net profit

03 February 2016, Published under Cement News

Shree Cements reported a 10 per cent rise in standalone net profit at INR10.286bn (US$0.151m) for the quarter ended 31 December 2015 compared to a profit of INR9.368bn a year earlier, it said in a Bombay Stock Exchange filing. Income rose by 18 per cent to INR18.288bn in the October-December quarter versus INR154.45bn during the same quarter last fiscal. Total expenses, however rose by 19 per cent to INR170.71bn. Capacity expansion In a separate filing, Shree Cement said it will ex...

Fitch upgrades Grupo Cementos de Chihuahua's ratings to 'BB'; outlook Stable

13 January 2016, Published under Cement News

Fitch Ratings has upgraded Grupo Cementos de Chihuahua (GCC) local and foreign currency Issuer Default Ratings (IDRs) to 'BB' from 'BB-'. Fitch also upgraded GCC's US$260m senior notes due 2020 to 'BB' from 'BB-'. The rating outlook is Stable. The ratings upgrade reflects the strengthening of US residential construction across several of the company's markets as well as a favourable economic environment in northern Mexico that should support cement demand in the state of Chihuahua. Robust...