Cement News tagged under: investment

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Grupo Argos to invest COP2.6trn in subsidiaries in 2019

29 March 2019, Published under Cement News

Colombia’s Grupo Argos, parent company of Cementos Argos, has stated that it plans to invest around COP2.6trn (US$816m) in its cement, energy and construction subsidiaries this year. Cementos Argos, Celsia and Odinsa will be the focus of the spending, made possible by the increase in net profits for the group in 2018. "In the coming years we'll continue to be a relevant player in the infrastructure of the country and the continent," said Grupo Argos CEO, Jorge Mario Velasquez.

Libya Cement Co launches EUR200m investment programme

18 March 2019, Published under Cement News

Libya Cement Co (CC) has announced an investment programme of EUR200m to be carried out over the next five years to increase its cement capacity. The investment will cover a mixture of new and upgraded facilities that will raise the company's production capacity by more than 50 per cent from around 2Mta to over 3Mta of cement. Financing for the project is close to being in place, the LCC says, with the Central Bank of Libya (CBL), major banks and funds, and other interested parties having b...

Sabanci Holding to invest TRY6bn in 2019

28 February 2019, Published under Cement News

Sabanci Holding, one of Turkey's largest conglomerates, has said it is planning a total of TRY6bn (US$1.13bn) of investments this year. "This figure excludes any acquisitions or mergers that may emerge within the year based on strategic developments," Sabanci said in a filing with Borsa Istanbul. "Rebalancing in the Turkish economy has begun. We are expecting long-term reforms after the [March 31 local] elections. We have taken our precautions. We will continue to produce and invest," said...

Holcim Mexico expects to invest up to US$50m in 2019

21 January 2019, Published under Cement News

Holcim Mexico announced its plans to invest US$30-50m in improving its operating efficiency and distribution network of its cement and concrete plants. "We have a network of over a thousand points of sale in Latin America and in Mexico we are also developing that part of a very long-term plan and a plan for Holcim's vision in Latin America," said Rodolfo Montero, CEO of Holcim. Mexico, in the event. "We also want to improve the efficiency of production, we are very concerned about the envi...

Vicat Egypt to invest in Sinai Cement

16 January 2019, Published under Cement News

Vicat Egypt is expected to invest up to EUR30m in Sinai Cement Co to meet the demand of the local and regional market. Tamer Magdy, CEO, Vicat Egypt, made the announcement during an event celebrating the 15th anniversary of the company’s presence in the Egyptian market. Vicat acquired Sinai Cement, based near El Arish, in 2003. The Egyptian economy has the potential to recover as it is moving forward on the back of the country’s policies, according to the CEO of Vicat Group, Guy Sidos. "W...

Pakistan cement sector records 7.3% fall in FDI

21 December 2018, Published under Cement News

Pakistan’s cement and construction industries received a total foreign direct investment (FDI) of US$265.3m during the July-Nov 2018 period, according to the State Bank of Pakistan. This translates to a fall of 10.7 per cent YoY compared to US$296.9m of the year-ago period. The cement sector alone attracted US$22.9m of FDI in the first five months of FY18-19, decreasing 7.3 per cent YoY from US$24.6m. Meanwhile, the construction industry saw a decline of 10.9 per cent to US$242.5m.

Siberian Cement invests to develop units in 2019

20 December 2018, Published under Cement News

Russia’s Siberian Cement has announced plans to invest RUB4.52bn (US$67.86m) to develop its production units in 2019. The funds, double the amount allocated in 2018, will be used for environmental measures, production renovation, automation of the process control system, technical renovation and logistics development, according to Kommersant-Sibir. The company’s Krasnoyarsk facility will see an RUB311m investment to construct a single 130m chimney for its kilns. The project is expected to b...

Cementos Polpaico swings into black in 9M18

26 November 2018, Published under Cement News

Chile-based Cementos Polpaico has reported revenues of CLP121.321bn (US$ 179.8m) in January-September 2018, representing a 25.9 per cent YoY increase. In addition, the company has achieved a rise in net profits to CLP3.15bn, a considerable improvement when compared with losses of CLP2.281bn in the previous-year period. In a year, the cement producer renewed its brand image and presented a new corporate image that is part of its development strategy following the entry of the Hurtado Vi...

New plant project for Uzbekistan

20 November 2018, Published under Cement News

The foundation of a new cement plant has been laid in Kattakurgan district of Samarkand region, Uzbekistan. The two-stage project is expected to create 2.4Mta of capacity at an investment of US$420m. It has been planned in cooperation with Chinese investors, according to Uzbekistan National News. The first stage, taking place over the 2018-20 period, will realise 1.2Mta of capacity at a cost of US$220m. The second stage is expected to be implemented in 2020-23.

EAPCC's plan to raise funds relies on court outcome

28 August 2018, Published under Cement News

Kenya's East African Portland Cement Co (EAPCC) has announced that its plan to sell land to raise much-needed operational capital is dependent on the outcome of certain court cases. "We have all our land titles intact in the bank. They are under lock and key and those claiming share of Portland land assets need to understand this," said Peter ole Nkeri, managing director, EAPCC. The bailout plan was expected to raise KES15bn (US$149m), which would have enabled the company to pay its debts...