23 November 2017
New Korean-backed plant for Uzbekistan 23 November 2017
Uzbekistan: The South Korean company Evergreen Holdings has announced plans to build a cement plant in Karakalpakstan, Uzbekistan. An agreement was signed in Seoul between the representatives of Uzkurilishmaterialary and Evergreen on 22 November 2017.
The total cost of the project exceeds US$300m. Evergreen Holdings intends to implement the investment in several stages based on the demand in Uzbekistan and neighbouring countries. The first stage will involve an investment of at least US$60m.
Uzbekistan currently has five large cement plants: Kyzylkumcement, Akhangarancement, Kuvasaycement, Bekabadcement and Djizzakh Cement plant, as well as a number of small enterprises. Their total capacity exceeds 8.5Mt/yr but
Uzbekistan wants to increase production to over 17Mt/yr in the period to 2022.
PPC rejects Fairfax offer 23 November 2017
South Africa: PPC has said that its independent board would not recommend Canadian firm Fairfax Africa Investments' partial offer to shareholders, considering it neither fair nor reasonable. In September 2017 Fairfax offered to buy 22% of PPC for US$144m on the condition that PPC accepted a merger proposal with rival AfriSam.
"The Independent Expert, having considered two possible outcomes of the proposed merger, is of the opinion that the partial offer, both in the context of the proposed merger as well as on a stand-alone basis, is not fair and reasonable," said PPC in a statement.
Coal hopper fire at GCC Dacotah plant 23 November 2017
US: Rapid City Fire Department crews quickly extinguished a potentially dangerous fire inside a coal hopper at the GCC Dacotah Cement Plant on 21 November 2017.
The plant suffered little damage and no injuries were reported. According to fire department spokesman Jim Bussell, crews attended the plant at 07:40.
The first crew found dark smoke coming from inside a building containing the coal hopper. Due to the inherent volatility of coal dust, the firefighters made a careful entry into the building and quickly dealt with the fires. Bussell said that GCC Dacotah's comprehensive emergency response plan, implemented after a review by both the cement plant and fire department officials in mid 2016, helped to minimise the effects of the fire. "This open dialogue and communication was key to a safe, quick response and resolution of the incident," Bussell said in a release.
Bussell added that GCC Dacotah expected no disruption to plant operations because the fire was in a part of the plant that is in the middle of a US$90m expansion project.
The cause of the fire remains under investigation.