Cement News tagged under: investment

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Malawi: Minister applauds CPL investment

20 September 2016, Published under Cement News

The Minister of Natural Resources and Mining, Bright Msaka, has spoken on Cement Products Ltd’s (CPL) multi-million investment in its Njereza Plant in Mangochi. Mr Msaka said how the venture has the potential to contribute to Malawi’s economic growth and is a sign that the company is embracing the Public-Private-Partnership (PPP) government objective. Mr Msaka assured CPL that the government would continue providing all necessary technical support. Asaalam Abdul Gaffer, CPL chairperson...

Cemex re-organises its Cementos Chihuahua investments

30 August 2016, Published under Cement News

Grupo Cementos de Chihuahua’s ownership is being restructured, with Cemex taking a 23 per cent direct stake as well as a minority interest in Camcem, which will be the majority shareholder in Cementos de Chihuahua. Cementos de Chihuahua will remain a quoted company. Cementos de Chihuahua saw its turnover for the first six months decline by 1.4 per cent to US$333.4m, with the US operations registering a 4.2 per cent improvement to US$235.4m, while the Mexican activities registered a 13.3 p...

Fujairah Cement approves Sohar Cement venture

22 August 2016, Published under Cement News

The Board of Directors of Fujairah Cement Industries has given the go-ahead to establish Sohar Cement Co in Oman. The new company investment cost amounts to OMR1.42m (US$3.69m), representing 20 per cent of the paid-up capital.

Canada: Quebec state investment fund to take controlling stake in McInnis

12 August 2016, Published under Cement News

The Caisse de Dépôt et Placement du Québec has agreed to plans to inject an additional CAD250m (US$193m) into McInnis’s Port-Daniel integrated plant project under a deal which sees the state investment fund take a controlling interest in Beaudier Ciment, McInnis’s majority shareholder. Reuters quotes a spokesperson for the Caisse as stating that the project faced cost overruns of up to CAD500m (US$386m) and for this reason the fund had insisted on a "change of control and a change in mana...

Sri Lanka: Tokyo Cement looks to US for investment backing

20 July 2016, Published under Cement News

The chief financial officer and other members of the Tokyo Cement management team are in the US this week for an investor roadshow, Lanka Business Online reports. Mark Decker, whose brokerage firm is promoting the roadshow, said: “Tokyo Cement is an under-researched company with a dominant market position, brand equity built over three decades, and clear growth prospects in light of Sri Lankan infrastructure and building construction projects.  “We’re honoured to introduce the firm’s m...

LafargeHolcim increases El Salvador investment

19 July 2016, Published under Cement News

LafargeHolcim will invest US$9m to upgrade its production facilities in El Salvador in view of an expected rise in demand. Around US$3m will be spent on 16 projects in its El Ronco works, in Metapán, Santa Ana. The investment will enable the 1.7Mta plant to upgrade its transport areas and improve the flow, order and security at El Ronco. A further US$6m will be used to upgrade production equipment and enable the company to meet the demand generated by the El Chaparral hydroelectric dam, ...

Azerbaijan: EBRD 20% LafargeHolcim investment

23 June 2016, Published under Cement News

The European Bank for Reconstruction and Development (EBRD) is considering the purchase of up to a 20 per cent stake in LafargeHolcim’s cement and clinker plant in Azerbaijan. If it decides to invest, EBRD will support LafargeHolcim in improving energy efficiency through the introduction of alternative fuels. EBRD previously supported the company’s Azerbaijani plant with a EUR170m structured corporate loan in 2009, which sough to increase the plant’s production by 50 per cent. Whilst it w...

Pakistan cement industry's US$1bn expansion

03 June 2016, Published under Cement News

The steady growth of Pakistan’s cement industry saw the sector attract investment of US$1bn in the current financial year, an economic survey has revealed. Economic Survey 2015-16, released today by Pakistan’s Ministry of Finance, finds that the cement industry is focussing on capacity expansion in view of ever-growing domestic demand and a focus on exports to African markets. Four companies have already announced further investment plans: Cherat Cement, Attock Cement, DG Khan Cement and ...

UltraTech Cement

25 May 2016, Published under Cement News

UltraTech’s Board of Directors has approved a proposal to increase the investment limits by Registered Foreign Portfolio Investors (RFPIs) from the existing 24 per cent of the paid-up equity share capital to 30 per cent. The change remains subject to approval by the members at the company’s AGM in July this year.  Meanwhile, India’s cement producers will be hoping Prime Minister Narendra Modi’s steps to reduce infrastructure backlogs prove fruitful as he pledges to increase infrastructure...

Bangladesh: FDI from Netherlands

20 May 2016, Published under Cement News

Bangladesh’s cement sector attracted foreign direct investment (FDI) of US$31.3m in 2015, according to a Bangladesh Central Bank report. This figure is up 41.5 per cent from that of 2014. The report showed that last year around half of the FDI in the cement sector came from The Netherlands, with investments also coming from Germany, Hong Kong, Switzerland, among others. According to a local research firm, the country’s cement production reached approximately 30Mt in 2015, against a demand ...