02 June 2025

Kazakhstan: China-based Sinoma Cement will build a new integrated cement plant in the Baiganinsky district of the Aktobe region, in partnership with Kazakh investment firm Pimus Capital. The 3500t/day capacity plant is scheduled for launch in the second half of 2027. The US$200m project is expected to create 1260 jobs. It will reduce reliance on cement imports, particularly from Russia and Iran, and meet growing demand from western Kazakhstan’s construction sector. The company has reportedly completed geological work to confirm reserves and quality of raw materials and concluded an investment agreement. This is Sinoma Cement’s first project in central Asia, and it said it plans to invest in more projects in Kazakhstan.

US: The Trump administration has cancelled a US$500m grant awarded in December 2024 to National Cement in California for the conversion of its Lebec cement plant into the state’s first net-zero cement facility. The project, valued at US$891m, aimed to switch to limestone calcined clay cement and use agricultural waste as fuel, with CO₂ captured for permanent underground storage, according to the Bakersfield Californian newspaper. It was expected to create 20 - 25 permanent jobs. The US Department of Energy (DOE) said the project was among 24 grants worth US$3.7bn cancelled due to failure “to advance the energy needs of the American people,” and cited economic infeasibility and poor return on taxpayer investment.

US Secretary of Energy Chris Wright said that the previous administration “failed to conduct a thorough financial review before signing away billions of taxpayer dollars.”

Executive director Steven Nadel of the American Council for an Energy-Efficient Economy said “Choosing to cancel these awards is shortsighted, and I think we're going to look back at this moment with regret.”

The project was one of 33 cement, steel and aluminium decarbonisation projects awarded DOE grants in 2023. The project turned up on an April 2025 list of 39 projects the DOE's Office of Clean Energy Demonstrations was considering terminating.

Switzerland/US: Holcim will complete the 100% spin-off of its North American business, Amrize, with trading expected to begin on 23 June 2025. The US Securities and Exchange Commission has declared effective the Amrize Form 10 Registration Statement, and Amrize has received authorisation to list shares on the New York Stock Exchange and the SIX Swiss Exchange under ‘AMRZ’.

Holcim shareholders approved the move with 99.75% in favour at the company’s annual general meeting on 14 May 2025. Each Holcim shareholder will receive one Amrize share per Holcim share owned as of close of business on 20 June 2025. The spin-off will be treated as tax neutral for Swiss tax and tax-free for US federal income tax purposes. S&P Global Ratings and Moody’s Ratings rated Amrize at BBB+ and Baa1, respectively, both with stable outlooks.

Kyrgyzstan: The Ministry of Economy and Commerce has initiated a discussion on a draft cabinet resolution to classify cement as a socially significant good, enabling the government to regulate its price amid concerns over unjustified increases. The ministry said the move would stabilise the construction market, reduce housing costs and improve affordability, as price increases have hindered the construction of social and infrastructure projects. Officials said the only likely negative impact would be reduced profits for producers and intermediaries under market volatility. The draft is open for public discussion until 13 June 2025.

The Kyrgyz cabinet previously lifted a cement import ban to ease supply constraints and meet rising demand.