Cement News tagged under: investment
Dangote Cement27 February 2017, Published under Cement NewsDangote Cement is planning a number of new investments in Ethiopia, where it currently has a 2.5Mta plant, located in Mugher. Around US$19m is being spent on a new bagging plant with a capacity of 120m bags/year, which is due for completion by mid-2017. The company is also building a new silo at its Mugher works, which is expected to be completed in 3Q17. There has been talk of Dangote investing in a second production line at the plant although spare parts are proving difficult to source due... |
Cruz Azul to invest US$300m in plants15 December 2016, Published under Cement NewsAs part of its plant modernisation programme, Mexico’s Cruz Azul plans to spend US$300m in upgrading its four plants in the next four years. Cooperativa La Cruz Azul President, Guillermo Álvarez, said half of the sum would be spent in the next two years with the remainder earmarked for 2019-20. “We will make the investment in a gradual manner in each two-year period to prevent decapitalisation of the company,” he said. The company’s oldest cement lines will be updated with latest-gene... |
Kenya: CDC completes purchase of 40% stake in ARM Cement05 October 2016, Published under Cement NewsARM Cement has completed the sale of 40 per cent of its shares to CDC Group, a UK-owned development corporation, for KES14.1bn (US$139m), Capital Business reports. The investment will strengthen ARM’s financial structure and enable the company develop to meet the growing demand for sustainably produced cement across sub-Saharan Africa. In the short-term, CDC will support the company’s plans to expand cement production in Mwingi in central Kenya, helping to bring down the cost of cement to... |
Malawi: Minister applauds CPL investment20 September 2016, Published under Cement NewsThe 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 investments30 August 2016, Published under Cement NewsGrupo 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 venture22 August 2016, Published under Cement NewsThe 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 McInnis12 August 2016, Published under Cement NewsThe 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 backing20 July 2016, Published under Cement NewsThe 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 investment19 July 2016, Published under Cement NewsLafargeHolcim 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 investment23 June 2016, Published under Cement NewsThe 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... |