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Mexico: Holcim Mexico has won an award from the National Chamber of Cement (CANACEM) for reporting no accidents at its cement plants in 2018. The award was presented at CANACEM‘s XXXVI National Congress of Occupational Health and Safety in Chihuahua.
Dangote Cement building 3Mt/yr plant in Ivory Coast 09 April 2019
Ivory Coast: Dangote Cement is building a 3Mt/yr cement plant with two production lines from an investment of around US$260m in the Ivory Coast. In an audience with Souleymane Diarrassouba, Minister of Commerce, Industry and Promotion of SMEs, the company said that the project is 70% complete, according to the Agence Ivoirienne de Presse. The new plant will create 800 jobs. It is scheduled to start production in early 2020.
Investors take action over Cimento Tupi’s debts 09 April 2019
Brazil: Investors have started legal action over in Cimento Tupi’s defaulted debts and attempts to merge with its parent company Cimento Santo Estevão. The cement producer defaulted in mid-2018 on payments to foreign investors that hold around US$30m in it, according to the Valor Econômico newspaper. It also stopped paying interest on the debts in 2015.
Other creditors are also working to stop Cimento Tupi’s plans to merge with Cimento Santo Estevão because it would raise the company’s debts rather than cut costs. A court in Rio de Janerio rejected one case although others are on-going elsewhere. Separately, the Agricultural Bank of China is also challenging the cement producer over arrears in a loan worth US$18m.
Cimento Tupi operates one integrated plant at Pedra do Sino in Minas Gerais and a grinding plant in Modi das Cruzes in São Paulo. It has a combined cement production capacity of 2.5Mt/yr but it has been producing half of this since around 2015. Its operating revenue remained stable at US$43m for the first nine months of 2018. However, its loss more than trippled year-on-year to US$76m.
Trinidad & Tobago: Trinidad Cement has asked the Caribbean Court of Justice (CCJ) to make its competitor Rock Hard Cement pay more than a 5% tariff on imports. It follows a ruling by the council of trade ministers in the Caribbean Community (CARICOM) in March 2019 that agreed to a classification of Rock Hard Cement’s products in Trinidad leading to duties of up to 5%, according to the Nation newspaper. The case has been referred to the CCJ for final arbitration in June 2019.
China: Sinoma International Engineering has won a prize in the National Quality Engineering Awards organised by the China Construction Enterprise Management Association for its work on the Biskria Cement plant in Algeria. Sinoma supplied a second production line for the plant. It was commissioned in 2018.