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Uzbek-Chinese joint venture commissions new cement plant 21 December 2018
Uzbekistan: Uzbek-Chinese joint venture Titan Cement (unrelated to the Greek group of the same name) has commissioned a 0.2Mt/yr plant in the Korauzyak District of the Republic of Karakalpakstan. The project had an investment of nearly US$40m, according to the Uzbekistan Daily newspaper. The funding was comprised of US$19m in direct investment from the joint venture, US$17m from loans and US$2m in foreign investment. This plant was originally reported as having started operation in mid-2016.
Bangladesh: Saudi Arabian company Engineering Dimensions has signed a partnership agreement with Bangladesh Chemical Industries Corporation (BCIC) to build a cement plant at Chhatak in Sunamgan. BCIC Chairman Shah M Aminul Haque and Engineering Dimensions President Mohammed N Hijji signed the deal, according to the Financial Express newspaper. Representatives of the Ministry of Industries and the Saudi Arabian embassy also attended the ceremony.
Mechel extends coal supply deal with Jidong Cement 20 December 2018
China: Russia’s Mechel says it has prolonged a coal supply contract with Jidong Cement until the end of 2019. The mining and steel company will supply 2Mt/yr of thermal coal mined at the company’s Elga and Yakutugol mines in South Yakutia. Monthly supplies will vary from 100,000 to 150,000t of coal products. Prices will be adjusted on a monthly basis following negotiations and on the basis of index rates.
“This is a third major contract signed by Mechel and Jidong Cement. I am sure that our ties will continue to develop in a constructive manner in the future. It is also important to note that Jidong Cement is a key customer of Elga’s thermal coal in Asia. In 2017 we supplied our Chinese partners with 1.9Mt and another 1.4Mt in 2018. In 2019 we plan to export thermal coal from Elga in comparable volumes,” said Mechel Mining Management’s chief executive officer (CEO) Pavel Shtark.
Indian prime minister aiming to reduce tax on cement 20 December 2018
India: Prime Minister Narendra Modi says he wants to reduce the rate of the Goods and Services Tax (GST) on regular items, including cement, to 18% from 28%. A proposal to reduce the rate will be considered by the GST Council in late December 2018, according to the Economic Times. Luxury items are likely to remain in the higher tax bracket.
Contractors at Lucky Cement plant killed in gun attack 20 December 2018
Pakistan: Two contract workers at Lucky Cement’s plant in Pezu, Khyber-Pakhtunkhwa province have been killed in a gun attacked on a bus. A third worker was wounded in the incident, according to the Dawn newspaper. Local police are searching for the killers.