Cement News tagged under: expansion

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Eagle Cement Corp prices IPO at PHP15

15 May 2017, Published under Cement News

Eagle Cement Corp has priced its initial public offering (IPO) at PHP15 (US$0.30)/share, following the recent approval of its public listing by the Philippine Stock Exchange (PSE), to raise up to PHP8.63bn. The firm plans to sell 500m common shares by way of primary offer with an over-allotment option of up to 75m secondary shares. The offer period is set on 16-22 2017 while target listing date is on 29 May 2017. "We are very pleased with the bookbuilding results. The issue was well r...

Semen Baturaja reports IDR259bn net profit in 2016

28 April 2017, Published under Cement News

Indonesia state-owned cement producer Semen Baturaja reported an IDR259bn (US$19.4m) in net profit last year, ANTARA News reports. At the company's annual general meeting on Thursday, shareholders decided to pay out 25 per cent, or IDR64.772bn, of the profits as dividend. Around 76.24 per cent, or IDR49.38bn of the dividends are for the state, and the remainder for the investing public, corporate secretary, Zulfikri Subli, said. The remaining 75 per cent of the profit will be retained ...

Lucky Cement 9MFY16-17 profit and volumes increase

25 April 2017, Published under Cement News

Lucky Cement achieved a profit before tax of PKR14.668bn (US$140.2m) during the first nine months of FY16-17 compared to the PKR13.395bn recorded in the same period a year earlier. Cement volumes increased by 8.3 per cent to 5.53Mt in the nine month period. Exports, however, were down by 23.09 per cent. The increase in revenue of 5.4 per cent was mainly attributed to the higher sales volumes. During the period, the company’s cost per tonne of sales was down by four per cent YoY, which...

India: Shree Cement granted ToR for Karnataka plant expansion

18 April 2017, Published under Cement News

Shree Cement has been granted terms of reference (ToR) by the Environment Ministry to expand its plant in Kalaburagi district of Karnataka. The project involves increasing clinker capacity from 2.4Mta to 4.5Mta, and cement capacity from 4Mta to 6Mta. The plans also include raising the plant’s captive power plant capacity from 44MW to 50MW and its waste heat recovery power plant from 20MW to 35MW. (Source: Economic Research India).

IFC considering equity injection in Myanmar cement plant expansion project

10 April 2017, Published under Cement News

The International Finance Corp (IFC) is considering an equity injection into the brownfield expansion of Shwe Taung Cement Co's cement plant at Pyi Nyaung village, Myanmar . Shwe Taung Cement is part of a local conglomerate, Shwe Taung Group (STG) The total project cost is estimated at US$110m. The proposed IFC investment in STC comprises an investment in common equity for up to US$15m and providing an A Loan of up to US$20m. The IFC is also looking to mobilise up to US$20m through the s...

Pakistan: Gharibwal Cement's energy-generating conveyor is operational

21 February 2017, Published under Cement News

Gharibwal Cement Ltd informed Pakistan Stock Exchange (PSX) that its downhill conveyor belt project has now started commercial operations. The 3.15km-long conveyor belt can transport 1200tph raw material (crushed limestone, clay, silica, etc) from quarry to the pre-blending yard. said Company Secretary, Muhammad Shamail Javed.   It is claimed that this conveyor belt is first of its kind in Pakistan because in addition to transporting the raw material, it also generates electricity up to...

Uganda: two new plants in Tororo by 2018

20 January 2017, Published under Cement News

After previously only being home to one cement plant (Tororo Cement), 2018 will see Tororo District welcome at least two new plants. By the end of 2017, Simba Cement of Kenya will have completed a grinding plant on the Tororo-Mbale highway. Simba Cement’s new plant will have the capabilities to produce in excess of 1Mta. Hardly a kilometre from the site, Hima Cement is expected to have started production on its US$40m (UGS144bn) plant by June 2018, which will see Hima’s production capa...

Maple Leaf Cement to raise cement capacity

20 January 2017, Published under Cement News

Maple Leaf Cement Factory Ltd (MLCF) was in the news this week when FLSmidth announced it had secured an EPC contract for a new 7300tpd third line at Daud Khel in Iskanderabad, Mianwali, Pakistan, which will be completed before the end of 2018. The brownfield project is an expansion that is estimated to cost PKR20bn (US$190.8m) and will take grey cement capacity at the factory up to 18,000tpd, the equivalent of around 5.9Mta. Started in 1956, MLCF was established in northern Pakistan as ...

Nigeria: BUA set to complete 1.5Mta Sokoto expansion by 3Q17

22 December 2016, Published under Cement News

BUA Group subsidiary, CCNN, expects the construction of its new 1.5Mta line at the Sokoto plant to be complete before the 3Q17. Founder and Executive Chairman of BUA Group and Chairman of CCNN, Abdulsamad Rabiu, said the US$300m project, which began in 2013, is the first at the plant since 1986. BUA Group took over majority shareholding in 2010. Mr Rabiu also informed the Minister for Solid Minerals Development, Dr Kayode Fayemi, that the group had discovered coal in commercial quantit...

Sri Lanka: Tokyo Cement expansion project

20 December 2016, Published under Cement News

Tokyo Cement Co (Lanka) Plc has commenced initial testing at its cement plant in Trincomalee, Sri Lanka. The fully-automated plant is expected to nearly double the company’s production capacity when it begins commercial operations in February 2017. It will add 1Mta to the existing capacity of Tokyo Cement, bringing total production capacity to 2.8Mta. This plant symbolises the beginning of an expansion plan undertaken by Tokyo Eastern Cement Co (Private) Ltd, a fully-owned subsidiary of T...