September 2024
UltraTech Cement expands Magdalla grinding plant 02 August 2023
India: Aditya Birla subsidiary UltraTech Cement has more than doubled its Magdalla grinding plant’s capacity to 1.93Mt/yr. The unit is based in Gujarat. The producer now has an installed cement capacity of 132Mt/yr.
East African Portland Cement Company to resume full-scale operations at Athi River cement plant 01 August 2023
Kenya: East African Portland Cement Company (EAPCC) says that it is ready to resume full-scale cement production at its 600,000t/yr Athi River cement plant. The Standard newspaper has reported that the plant is currently operating at 50% capacity, following refurbishment. EAPCC replaced a 16m-long section of kiln shell in the plant's clinker line, at a cost of US$3.5m. Managing director Oliver Kirubai said that the company raised the funds through the sale of land located in Athi River.
Kirubai said "Our employees have cut back a lot, in a situation where we have been struggling even to pay their salaries. We are now back on our feet." He added "A number of companies owed us millions of Shillings. They have been ordered to pay us by the government. If they honour the agreement, the problem we are facing will be a thing of the past.”
EAPCC says that it expects the scale-up of production at the Athi River plant to help lower the cost of cement for its customers.
Lafarge Africa's sales rise in first half of 2023 01 August 2023
Nigeria: Lafarge Africa's sales were US$257m during the first half of 2023, up by 5.9% year-on-year from US$242m during the first half of 2022. Costs rose and the company's profit after tax fell by 5.2%.
Lafarge Africa said "Our strategic and cost management initiatives have contributed to improved results, despite the challenges. We remain steadfast in our commitment to driving innovation and accelerating green growth in line with our sustainability ambitions and targets." The company added "The Nigerian infrastructure and construction sector is expected to continue to grow despite inflationary pressure on purchasing power. As a result, we maintain our positive outlook, with market recovery expected for the second half of the year. We will continue to maximise volume opportunities across our markets and actively manage our costs. The company remains committed to its sustainability ambitions and strategy of Accelerating Green Growth.”
Mexican government to offer Vulcan Materials US$390m for Quintana Roo quarry and terminal 01 August 2023
Mexico: The Mexican ambassador to the US is due to make US-based Vulcan Materials an offer of US$390m to sell a 2400 hectare parcel of land in Quintana Roo to the government. The land includes a disused limestone quarry and the Riviera Maya cement terminal, which is currently used by Cemex. The government's Ministry of the Environment ordered the closure of the quarry in May 2022, when it also banned Vulcan Materials from despatching limestone.
Mexican President López Obrador said that Vulcan Materials 'shouldn't reject the offer.' He added "We’ll buy everything from them, we’ll pay immediately and we’ll turn 2000 hectares into a natural protected area. They’ll be able to say "We’re contributing to stopping climate change." And we’ll only keep one part, to carry out an ecotourism development with a cruise ship pier.”
Associated Press News has reported that Vulcan Materials has filed a valuation showing the land to be worth US$1.9bn.
Ukraine: CRH subsidiary Cemark completed the 'main stage' of construction of a US$37.3m, 450,000t/yr cement shipping complex in Ukraine in July 2023. The Sunday Independent newspaper has reported that complex will be equipped with an automated packing and palletising line. When operational, the site will provide 80 jobs.
Ireland-based CRH agreed to acquire Italy-based Buzzi's Ukrainian business in June 2023, for US$109m.
Tokyo Cement (Lanka) to sell 10% of shares 01 August 2023
Sri Lanka: Tokyo Cement (Lanka) has informed the Colombo Stock Exchange of an upcoming extraordinary general meeting of its shareholders. The meeting will decide whether to approve the sale of 10% of the company's shares.
India: ACC says that it will not carry out an independent investigation into its parent company Adani Group. US-based short-seller Hindenburg Research accused the group of stock manipulation and accounting fraud involving a 'labyrinthine network' of shell companies in January 2023. Prior to making its accusations, Hindenburg Research obtained a short position on Adani Group. An investigation into Adani Group's activities by the Securities and Exchange Board of India will conclude on 14 August 2023. Filings have also been submitted to the Supreme Court of India.
The Business Standard newspaper has reported that ACC said "Pending final outcome of regulatory investigations and related proceedings, the company has decided to not carry out any separate independent investigation in the matter, and the financial results do not carry any adjustments in this regard." It added "The expert committee submitted its report in the matter dated 6 May 2023, finding no regulatory failure."
Adani Group's original rebuttal of the allegations can be read online here.
Nigeria: Dangote Cement sold 13.4Mt of cement during the first half of 2023. Its sales volumes outside Nigeria were 5.4Mt, up by 12% year-on-year from 4.9Mt in the first half of 2022. The producer noted 'robust demand' in Ethiopia, the Republic of Congo, Senegal and Zambia. It reported revenues worth US$1.23bn in the first half of 2023, up by 17% from first-half 2022 levels. KOGI Reports News has reported that the producer's profit after tax rose by 3.8% in the half, to US$232m.
Chief executive officer Arvind Pathak said "Dangote Cement delivered positive results in the first half of the year. Our Nigeria operations achieved a 23% quarter-on-quarter recovery in sales during the second quarter of 2023, which was impacted by the general elections and the 'cash crunch.' However, the steep currency devaluation in mid-June slowed this volume recovery and increased already inflated operating costs." He added “We will continue to focus on our strategic growth priorities, hinged on our vision of transforming Africa and building a sustainable future. I am optimistic that our business remains resilient and well positioned to overcome unforeseen macroeconomic headwinds.”
BUA Cement publishes first-half 2023 results 31 July 2023
Nigeria: BUA Cement recorded US$279m in sales in the first half of 2023, up by 17% from US$238m a year earlier. MarketScreener News has reported that the producer's net income rose by 3.7% in the six-month period, from US$77.4m to US$80.3m.
Canada/UK: Carbon Upcycling has raised US$26m in a Series A funding round. The clean tech company says that the funding will support its construction of planned carbon capture systems at CRH's Mississauga cement plant in Canada and Cemex UK's Rugby cement plant in the UK. Carbon Upcycling’s technology injects captured CO2 into industrial byproducts and minerals to produce supplementary cementitious materials. BDC Capital and Climate Investment led the funding round, with strategic investments from Cemex Ventures, CRH and Oxy Low Carbon Ventures.
Carbon Upcycling chief executive officer Apoorv Sinha said "Closing this round is a major milestone on the road to becoming the most impactful carbon tech company of this decade.” He continued “Over the next year, our mission is to demonstrate our technology's versatility, scalability and operational elegance. Significant, cost-effective decarbonisation potential in the cement industry is possible without a green premium.”
Mexico-based Cemex first invested in Carbon Upcycling via its venture capital unit Cemex Ventures in February 2022. Its said “Cemex is committed to supporting decarbonisation for the built environment, and our follow-on investment in Carbon Upcycling demonstrates such ambition. Carbon Upcycling provides a scalable solution that effectively reduces the carbon footprint of cement. Increasing the supply and use of cementitious materials aligns with Cemex’s goals of reducing CO2 emissions and becoming fully net-zero by 2050”
The collaboration between Carbon Upcycling and Cemex dates to early 2020, and work towards a commercial-scale plant at the Rugby cement plant commenced in June 2022. The project will target a capture capacity of 1600t/yr, and has secured US$2.96m in government funding from UK Research and Innovation. Cemex says that it will subsequently roll out further CO2 mitigation projects in partnership with Carbon Upcycling at cement plants across Europe, the Middle East and Africa, Mexico and the US.