18 December 2023
CRH to acquire majority stake in Adbri 18 December 2023
Australia: Ireland-based CRH and Barro Group have partnered to jointly acquire Adbri outright. The companies currently control 47.6% of Adbri combined – a 4.6% stake under CRH and a 43% stake under Barro Group. Under their offer to shareholders, CRH will raise its stake in the company to 57%. The partners have valued the company at US$1.4bn as part of their proposal. Following the conclusion of any such deal, the companies reportedly plan to delist Adbri from the Australian Securities Exchange (ASX).
CRH chief executive officer Albert Manifold said "Adbri is an attractive business with quality assets that complement our core competencies in cement, concrete and aggregates. With its leading market positions in Australia, we are delighted that this opportunity has presented itself to us.” He added “It is the next logical step for CRH to expand our existing presence in Australia, where we have been operating for 15 years. We look forward to working with the Barro family over the coming years to enhance the long-term performance of the business, leveraging our scale, industry knowledge and technical expertise to improve long-term growth and operating performance and drive value to achieve the true potential of the business.”
Heidelberg Materials secures funding for Geseke cement plant GeZero carbon capture project 18 December 2023
Germany: The European Union Innovation Fund has awarded Heidelberg Materials Euro191m in funding to support its development of a carbon capture and storage (CCS) value chain at Geseke cement plant in North Rhine-Westphalia. The planned project, called GeZero, involves the construction of an oxyfuel kiln, capture system and train transport infrastructure. Having received the funding, Heidelberg Materials and its partners will commence work in January 2024. They will subsequently scale the capture system to 700,000t/yr and build pipelines to transport CO2. Energy provider Wintershall Dea will receive the CO2 at its upcoming coastal hub for processing and storage below the North Sea.
Heidelberg Materials Germany general manager Christian Knell said “Together with our partners, we walk the talk and pave the way for CCS in Germany. GeZero will complement our global project portfolio with a truly unique approach. We are developing a promising novel solution for inland cement sites, with the intention to inspire industry peers and other emission-intensive sectors to follow.”
Global chief custainability officer Nicola Kimm said “The successful grant agreement demonstrates the relevance of GeZero for the decarbonisation of our sector, and the trust that European authorities place in our approach.”
Reon Energy to build microgrid for Arabian Yemen Cement 18 December 2023
Yemen: Pakistan-based Reon Energy has won a contract to build a microgrid equipped with a 13.5MW solar power plant and a 5.59MWh battery energy storage system for Arabian Yemen Cement. The energy storage system will employ Reon Energy’s SPARK Intelligent Energy Management product. The supplier said that the project aims to reduce energy costs by 20% and lower CO2 emissions from Arabian Yemen Cement’s operations.
Arabian Yemen Cement chief executive officer (CEO) Waheeb Al-Azab said "Our partnership with Reon Energy signifies a monumental stride towards sustainable energy practices, enabling us to harness solar power, significantly reduce our carbon footprint and optimise fuel efficiency in our operations."
Reon Energy CEO Mujtaba Khan said "This collaboration marks a significant step in our commitment to delivering practical, efficient solutions, tailored to industry-specific energy challenges. We look forward to driving positive change in the energy landscape of the cement industry with Arabian Yemen Cement."
Ambuja Cements to invest US$722m in renewable energy projects 18 December 2023
India: Adani Group subsidiary Ambuja Cements plans to invest US$722m in renewable energy projects to help decarbonise its cement production. The producer has a renewable power capacity target of 1000MW, through solar and wind projects, by the end of the 2026 financial year. The proposals include a 600MW solar power project and 150MW wind power project in Gujarat, and a 250MW solar power project in Rajasthan. The company also plans to increase its waste heat recovery (WHR) capacity to 397MW by late 2028 from 103MW at present.
Ajay Kapur, the chief executive officer of Adani Group’s cement business, said "This strategic investment reaffirms our steadfast commitment to sustainable practices. We are not just aiming for a substantial increase in green power capacity but setting the stage for a transformative shift in the cement industry. They align not only with our growth trajectory but also with the national objective of decarbonisation and greener future and this helps us become competitive and sustainable."
Adani Group announced in mid-December 2023 that it was committed to investing US$100bn in the decade to the end of 2033 towards transitioning its operations to net zero CO2 emissions by 2050.
Holcim Mexico to trial hydrogen injection in cement kilns 18 December 2023
Mexico: Holcim Mexico has concluded a deal to set up a trial of hydrogen injection in kilns at one or more of its seven cement plants in Mexico. The producer says that the technology will optimise combustion processes and facilitate the increased substitution of alternative fuel.
Anhui Conch Cement to acquire Conch IT Engineering 18 December 2023
China: Anhui Conch Cement has concluded a deal to acquire equipment and software supplier Conch IT Engineering outright. Reuters has reported the value of the deal as US$18m.