Displaying items by tag: China
Dongwu Cement issues profit warning
27 July 2020China: Dongwu Cement has predicted a net profit of US$1.71m in the first half of 2020, down by 62% year-on-year from US$4.56m in the first half of 2019. Company chairman Liu Dong said the expected decrease was “primarily attributable to a decline in sales volume and sales price of the group’s products resulting from the outbreak of the coronavirus pandemic during the period.”
Zambia: Sinoma Mpande Limestone has donated 1000 bags of cement for use in the construction of a new secondary school in Chongwe, Lusaka Province. The People’s Daily newspaper has reported that the community is responsible for a 25% contribution in addition to World Bank funding for the project. District Commissioner Robster Mwanza said that it was “hard pushed to meet this requirement” and that the cement would “go a long way” in helping.
Asia Cement China revises 2020 financial projection
20 July 2020China: Asia Cement China has estimated a 40% - 45% year-on-year decline in profit in 2020 due to lower sales volumes and selling prices. Dow Jones Newswires has reported that this is due to the impacts of the coronavirus outbreak on cement demand outside of China. The company is active in several countries including Thailand, Taiwan and South Korea.
Diamer Basha Dam to use concrete containing fly ash
20 July 2020Pakistan: The upcoming Diamer Basha Dam and 21MW Tangir Hydropower Project will use concrete made from Ordinary Portland Cement mixed with fly ash and other additives. The Frontier Works Organisation said, “This reduces thermal loads on the dam and reduces chances of thermal cracking,” according to China Daily News. The Chinese-backed project is scheduled for completion in 2028.
China: Anhui Conch and its subsidiaries have responded to increased rainfall and raised water levels in the Yangtze River in Jiangnan Province since June 2020 by building a “solid line of defence against floods.” The Group says that with the help of the Central Committee of the Communist Part of China it has planned and implemented flood monitoring, strategic precautions and local flood control using earth and sandbags. Anhui Conch subsidiary Chizhou Conch mines limestone for cement production in the area. It said, “Chizhou Conch will continue to pay close attention to all the work of flood prevention and flood preparation, ensure the safety of the flood season, and help the company achieve its annual production and operation goals and tasks smoothly.”
Huaxin Tibet plants win Green Factory certification
16 July 2020China: The Tibet Autonomous Region Department of Economics and Information has awarded Huaxin Cement subsidiary Huaxin Tibet’s Shigatse Company Tibet Company cement plants with regional Green Factory status. The plants are among eight businesses across the autonomous region selected for their dedication to green development. The company says that it attaches “great importance to the protection of plateau ecology, the scientific development of mineral resources and the promotion of mine reclamation and greening.”
The Tibet Company circulates used cooling water from cement production into irrigation systems for mine reclamation. The Shigatse Company “strengthened the greening of mines and plant areas according to local conditions, and insisted on special environmental protection training for front-line employees and middle-level leaders,” improving environmental awareness across its operations, according to Huaxin Tibet.
Mozambique: Dugong Cimentos says that construction of its new 1.8Mt/yr integrated cement plant in Matutuíne District, Maputo Province, is 90% complete. The Noticias newspaper has reported that the plant cost US$330m and was paid for by private Chinese investors. It will permanently employ 500 people, including 400 Mozambicans, when operational. The plant will consume 400,000t/yr of coal and produce cement as well as clinker for grinding at other Mozambique plants that currently import it.
China: Henan Province has announced a planned rise in water and energy tariffs for cement producers that fail to meet current emissions standards and clean transportation requirements. Reuters News has reported that companies subject to the measures will pay US$0.07 – US$0.14/m3 more for water and up to US$0.01/kWh more for electricity. Henan enacted ‘ultra-low’ emissions limits of 10Mg/Nm3 of dust, 50Mg/Nm3 of NOx and 100Mg/Nm3 of SO2 in 2018. Cement plants in the province produce 105Mt/yr of cement.
Young Investment Group Industry Company Limited and China Gezhouba Group form joint venture to establish cement plant
09 July 2020Myanmar: Young Investment Group Industry Company Limited (YIGICL) has entered into a joint venture with China-based China Gezhouba Group Cement (CGGC) and China Gezhouba Group Overseas Investment (CGGOI) with the aim of establishing an integrated cement plant in Mandalay, Mandalay region. The joint venture, which is held 30:70 by YIGICIL and the Chinese partners respectively, will also set up a limestone mine.
China: Dongwu Cement has appointed Liu Dong as chairman and Wu Junxian as chief executive officer (CEO) following the resignations of Xie Yingxia and Jin Chungen for personal and retirement reasons respectively.
Liu, aged 51 years, has been an executive director of Dongwu Cement since mid-2019. Since leaving university he worked as a diplomat for the Chinese government and the United Nations. From 2005 he has held a number of senior positions at companies including Orient Holdings Group, Huilitong Industry, Sunshine Oilsands, Orient International Resources Group, Global Mining and Sino-Sindh Resources. He holds over ten years’ experience in capital market and investor relationship sectors in Hong Kong and has a Master of Philosophy from the University of Cambridge.
Wu, aged 39 years, is an executive director of Dongwu Cement and the general manager of Suzhou Dongwu Cement. He joined the group in 2009, and has held various positions in Suzhou Dongwu such as assistant to general manager and deputy general manager. He became general manager of Suzhou Dongwu in 2013. Previously, Wu worked for Orient Holdings and Shanghai Keli Communications Technology. He holds a bachelor degree in management administration from Nanjing Audit University.