16 January 2024

Oman: Oman Cement Company recorded sales of US$189m in 2023, up by 4% year-on-year from US$181m in 2022, Reuters has reported. The company’s net profit also grew during the year, by 16% to US$15.1m from US$13m.

Saudi Arabia: Arabian Cement Company has estimated that its production costs will rise by 14% after Saudi Aramco raised its fuel prices. In an addendum to a previous announcement published on the Saudi Exchange on 4 January 2024, the producer said that it will explore cost reduction strategies throughout the coming financial period.

Brazil: Votorantim Cimentos and Atlas Renewable Energy have launched a joint venture to build a 470MW solar power plant in Paracatu, Minas Gerais. Additionally, the parties signed a power purchase agreement (PPA) for the supply of 100GWh/yr of solar energy for Votorantim Cimentos' cement plants between 2026 and 2041. The moves align with the producer’s aim to achieve 75% renewable energy reliance in its operations.

Argentina: Cement shipments across Argentina totalled 12.6Mt nationally in 2023, down by 3.2% year-on-year from 13Mt in 2022. Central de Noticias News has reported that the Portland Cement Manufacturers Association (AFCP) attributed this to the continuing ‘paralysis’ of private and public construction projects. The Construction Index dropped by 7.9% year-on-year in 2023.

India: Shah Rukh Khan (SRK) has become the latest Bollywood superstar to help advertise cement in India. Khan appears in UltraTech Cement’s Build and It Will Grow (Banega Toh Badhega) advertising campaign, launched on 15 January 2023. The opening advert shows the Aśoka star among workers, school pupils and the Indian Army carrying out different activities facilitated by infrastructure.

UltraTech Cement said “SRK is a shining example of the rise and aspirations of India. His personal journey is one of resetting boundaries and aiming high. We thus believe that he is aptly suited to represent UltraTech’s credo.”