Cement News tagged under: greenfield

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India: Orient Cement reports on 'challenging' second quarter

21 October 2015, Published under Cement News

Orient Cement reported a 35.4 per cent YoY decline in 2QFY16 net profit to US$4.32m due to lower income and higher expenses and finance costs. Net sales for the three months to the end of September 2015 fell to US$54.7m in the quarter compared to US$59.2m in the same period of the previous years. The company's total expenditure rose to US$51m from US$49m in the same period of 2014. Deepak Khetrapal, managing director and CEO of Orient Cement said: "The quarter ended September 30 has...

State-owned Indonesia producers plan Kupang plant

16 October 2015, Published under Cement News

State-owned Indonesian cement producers PT Semen Indonesia and PT Semen Kupang are planning to build a new cement factory in Kupang, in the eastern province of East Nusa Tenggara . The plant involves an investment of IDR2.5trn (US$185.19m) and will have a capacity of 1.5Mta, according to local press reports. The Heads of Agreement (HoA) document was signed by both companies on Thursday. Groundbreaking for the new works is slated for 2016. Agung Wiiharto, corporate secretary of Semen Indon...

Lucky considers increasing northern exposure

12 October 2015, Published under Cement News

Lucky Cement plans to build a new cement plant in the north region of the country to meet growing demand, a senior company official said on Friday. "Yes, we have planned to set up a plant in the north [of the country], News International quoted the company's CEO Muhammad Ali Tabba, as saying. "Our next board of directors meeting is scheduled at end of October and we would take up the plan there for approval," he added. Lucky Cement would release all relevant financial and other information...

Vicem Hoang Mai Cement plans new plant, Vietnam

12 October 2015, Published under Cement News

Vicem Hoang Mai Cement JSC has announced plans to build a cement factory at an estimated cost of VND10.8trn (US$480m) in the central Vietnam province of Nghe An. The Hoang Mai Cement 2 factory will be constructed in the 2016-20 period in two phases, providing more than 2Mta of cement after the completion of each phase. The plant will serve the central region as well as export markets.

Huaxin Cement to launch 5Mta project in Kazakhstan

12 October 2015, Published under Cement News

Shanghai-listed Huaxin Cement Co, Ltd will erect a cement project with a capacity of 5Mta in Kazakhstan. The new dry-process cement production line will start construction by the end of the year. (Source: Xinhua's China Economic Information Service)

Medcem's single-line ambition

12 October 2015, Published under Cement News

The Medcem cement plant, a greenfield investment by the Eren Holding Group, launched operations earlier this year to become the latest addition on the Turkish cement production map. Strategically located on the Mediterranean coast of southern Turkey, the 4.5Mta single-line integrated works has its own port facilities, enabling it to serve domestic markets as well as make its mark on the export front. By Medcem Cement (Eren Holding Group), Turkey. Eren Holding Group's new Medcem works ...

Guatemala: Fitch affirms Cementos Progreso IDRs, Outlook Stable

25 September 2015, Published under Cement News

Fitch Ratings has affirmed Cementos Progreso SA's (Cempro) Issuer Default Ratings (IDRs) at 'BB+'. The Rating Outlook is Stable. Cempro's 'BB+' ratings reflect the company's leading position in Guatemala's cement industry. Its solid market position is viewed as sustainable considering the country's limited infrastructure and challenging logistics, which limit imports and significantly increase cement distribution costs. Further deterrents include the company's extensive distribution netwo...

Kenya: West Pokot plant construction poised for 2016 start

25 September 2015, Published under Cement News

Construction work on a long-awaited cement plant in West Pokot County, Kenya, is due to commence early next year, company officials have confirmed. Cemtech Ltd, a subsidiary of India's Sanghi Group of companies, will begin construction work for the KES12bn following approval by engineers who had earlier raised queries over its site, among other issues.  The company acquired 650 hectares of land for the 1.2Mta plant about six years ago. Diptish Nandha, general manager of Cemtech, affirme...

Siam City Cement to set up Cambodian JV

24 September 2015, Published under Cement News

Thailand-based Siam City Cement (SCCC) has approved a plan to set up a joint venture with Chip Mong Group to operate a cement plant in Cambodia. Thailand’s second-largest cement producer SCCC will take 40 per cent equity in Chip Mong Cement Corporation Ltd, the joint venture firm, and Chip Mong Group and three other individuals will hold the majority 60 per cent. The JV firm has a registered capital of US$150m, comprising 75,000 ordinary shares at a par value of US$2000 each. It is expe...

San Miguel Corp to up investment spend

21 September 2015, Published under Cement News

Philippine conglomerate San Miguel Corp said on Monday it is raising planned investment in cement manufacturing to almost US$1bn with the addition of three new cement plants to two previously announced facilities. President Ramon Ang outlined the investment at a briefing following the listing of San Miguel's PHP33.5bn (US$720m) worth of newly issued preferred shares. Ang said in July San Miguel was building two cement plants, worth US$800m, expected to be completed in 2017. (Source: Reute...