Cement News tagged under: investment
Gautam Adani raises stake in Ambuja Cements18 April 2024, Published under Cement NewsGautam Adani and his family have made a further investment in Ambuja Cements . Injecting another INR83,390m (US$998.3m) into the business has increased their stake in the cement producer to 70.3 per cent. This follows a previous injection of funds on 28 March this year, raising their stake to 66.7 per cent. According to The Telegraph, this latest investment will help Ambuja accelerate its growth plans which aim to double its cement production capacity from 76.1Mta, as at the end of 202... |
Holcim Philippines invests US$35m in renewable energy18 April 2024, Published under Cement NewsHolcim Philippines has announced plans to spend PHP2bn (US$35m) over the next three years on co-processing and increasing its use of renewable energy. According to the company, the funds will be spread across its four plants in Bulacan , La Union , Davao and Lugait . Bulacan and La Union will receive the investment this year, with Davao and Lugait receiving the investment in the following year, reports The Philippine Star. The investments are intended to support activities such a... |
UltraTech announces two new greenfield plants03 April 2024, Published under Cement NewsUltraTech Cement is investing INR324,000m (US$3.89bn) in capex over the next three years, including two new greenfield plants, which will add an additional 5.4Mta in cement production capacity. The two facilities will be located in Chhattisgarh and Tamil Nadu, taking the company’s total cement capacity to 151.6Mta. According to the company, this capacity is equivalent to more than 150 per cent of the capacity in the USA and 80 per cent of the capacity in Europe. It has taken 36 years f... |
Northern Region Cement signs US$44m Iraq partnership04 January 2024, Published under Cement NewsSaudi Arabia-based Northern Region Cement Co has signed a partnership agreement with Al-Diyar Al-Iraqia for Investments Co which sees the Iraqi company acquire 49 per cent of Northern Region Cement’s Iraqi investments. The deal is valued at US$43.95m and proceeds will be used to inject external investments in promising opportunities and repay a portion of the high-cost loans amid high financing costs, according to a bourse disclosure. The agreement will enable Northern Region Cement to... |
US Department of Energy invests US$46m in carbon capture projects21 December 2023, Published under Cement NewsThe US Department of Energy’s (DOE) Office of Fossil Energy and Carbon Management (FECM) has announced US$45.6m in federal funding for nine projects that will advance CO 2 capture technologies and help establish the foundation for a successful carbon transport and storage industry in the US. Large-scale deployment of carbon capture, transportation, and storage infrastructure is crucial to meeting the Administration’s ambitious climate goal of achieving a net-zero emissions economy by 2050, ... |
Ambuja Cements announces green power investment18 December 2023, Published under Cement NewsAmbuja Cements has announced plans to invest INR60,000m (US$723m) in renewable energy, resulting in green power accounting for 60 per cent of its energy requirements. According to the company, 1000MW of solar and wind power projects are planned, including a 600MW solar power project and a 150MW wind project in Gujarat, along with a 250MW solar power project in Rajasthan. This will be achieved by FY25-26 in addition to the company’s existing 84MW of solar and wind power. Ambuja is also ... |
Adani Group commits to investment in Bihar15 December 2023, Published under Cement NewsThe Adani Group has announced plans to invest an additional INR87,000m (US$1046m) in the Indian state of Bihar. The money will be spent across a number of sectors, including its cement business. So far Adani has invested around INR8500m in the Bihar region but plans to create an additional 10,000 jobs in the state through its spending plans, according to The Telegraph. “Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribu... |
Taiheiyo to build new terminal in Philippines22 August 2023, Published under Cement NewsJapan-based Taiheiyo Cement Corp (TCC) will build a new cement terminal in Calaca, Batangas, Philippines, to enable the company to serve the Luzon market from its pant in San Fernando, Cebu. Taiheiyo Cement Philippines Inc (TCPI) will build and operate the planned hub to distribute its Grand-branded cement products, according to TCC President and Representative Director, Masafumi Fushihara. The 0.7Mta project is the next step in serving a market that TCPI has estimated to have increase... |
CRH attracts new investors prior to US move17 August 2023, Published under Cement NewsCRH is attracting new investment prior to its move to the New York Stock Exchange in September this year. According to the Irish Independent, at least 26 hedge funds have announced new or expanded American depository receipts (ADRs) in CRH. In total, hedge funds bought a net 7.53m ADRs in CRH in the three months up to 30 June 2023, reports Bloomberg. Among the investors are Soros Fund Management, owned by billionaire George Soros, which now holds ADRs worth around US$20m, and Seth Klarma... |
Fitch B+ rating for United Cement Group01 June 2023, Published under Cement NewsFitch Ratings has awarded a B+ rating to United Cement Group (UCG) . The positive outlook by the rating agency is due UCG’s large-scale modernisation as well as with an increase in profitability. The recent acquisition of construction glass producer Kvarts by UCG is also expected to lead to ongoing improvements in product diversifiaction and strengthening of financial stability. Moreover, the integration of Kyzylkumcement is anticipated to increase operating profitability. According to F... |