September 2024
Ethiopian government sets fixed prices for cement 20 September 2022
Ethiopia: The Ethiopian Ministry of Trade and Regional Integration has set fixed prices for cement in response to price inflation. The ministry said it took the move when cement producers responded to a request for price adjustments with prices that the government viewed as too high, according to the Addis Standard. The government department subsequently established a task force to investigate the market and came up with its own price window.
Also, due to low production levels, priority for cement will be given to government projects. Such schemes will procure cement directly from plants after obtaining government certification. Other consumers will be able to buy cement products through government development organisations and other outlets. The ministry warned that buying cement from other sources would be considered illegal and appropriate legal action would be taken in response.
Quebec government orders St Mary’s Cement’s Port-Daniel-Gascons cement plant to reduce dust emissions 20 September 2022
Canada: The Quebec Ministry of the Environment has ordered St Mary’s Cement’s integrated plant at Port-Daniel-Gascons to reduce its dust and other emissions to government-mandated levels. The notification follows an incident that occurred over the summer of 2020 and has reoccurred since on occasion. The order requires, amongst other measures, that the subsidiary of Brazil-based Votorantim allow an independent expert recognised by the department to carry out an assessment of air filtration equipment at the plant and propose ways to improve the situation.
Dankalk orders dryer from Gebr. Pfeiffer 20 September 2022
Denmark: Lime and chalk producer Dankalk has ordered a three-tube dryer type TRT 3150/5,0 from Germany-based Gebr. Pfeiffer. The order replaces a previous dryer also supplied by Gebr. Pfeiffer. Dankalk manufactures lime products for agricultural purposes, products for waste incineration plants and chemical auxiliaries and polymers for industrial wastewater treatment and environmental processes.
Adani Group completes Holcim India acquisition 16 September 2022
India: Adani Group has successfully acquired Holcim’s assets in Indian for US$6.4bn. Holcim says that the transaction will facilitate the on-going implementation of its acquisition strategy, to build on investments of US$5.19bn in its solutions and products business so far in 2022.
Holcim chief executive officer Jan Jenisch said “I would like to thank our 10,700 Indian colleagues who have played an essential role in the development of our business over the years with their relentless dedication and expertise. I am convinced that the Adani Group is the right home for them as well as for our customers to continue to thrive in the future. This divestment is another step in our transformation to become the global leader in innovative and sustainable building solutions, strengthening our balance sheet and giving us the firepower to continue our acquisition strategy.”
HDC Bulk Terminal to establish terminal at Haldia Dock Complex 16 September 2022
India: Adani Group subsidiary HDC Bulk Terminal has concluded an agreement with the ports authority of Haldia Dock Complex for the construction of a new terminal at Berth 2 of the Port in West Bengal. The facility will have a handling capacity of 3.74Mt/yr, and will receive bulk solids including raw materials for Adani Group’s cement subsidiaries in the state. The total cost of the terminal’s construction will be US$37.4m. Work will begin before April 2023.
Nuh Çimento to expand waste heat recovery unit at Hereke cement plant 16 September 2022
Turkey: Nuh Çimento has applied for environmental clearance for the expansion of a waste heat recovery (WHR) unit at its Hereke cement plant in Marmara. En Kocaeli News has reported that the company seeks to expand the plant’s power capacity by 66% to 29.6MW from 17.7MW. The company estimates that the project will cost US$4.38m. Its construction will employ 50 people.
Hsing Ta Cement’s capital declines 16 September 2022
Taiwan: Hsing Ta Cement has reduced its paid-in capital by 0.2% to US$108.9m from US$109.1m. The reduction is the result of the company’s cancellation of treasury shares.
Construction of largest 3D printed building in the US commences 16 September 2022
US: COBOD says that construction of the largest 3D printed building in the US using its 3D printing technology has commenced at a site in Houston, Texas. The building is the country’s first two-storey residential building constructed using the method. PERI handled the order for contractor CIVE and architect HANNAH.
CIVE president Hachem Domloj said “Having the opportunity to be the engineers and general contractor for the first two-storey 3D printed structure in the US has been an honour. We can see how this technology and our team’s approach is providing the scalability to larger commercial developments. Collectively, we're changing the way our country builds, and paving the way for more affordable housing, higher structural integrity and faster building capabilities. The possibilities of 3D printing are endless!”
Carthage Cement’s sales and profits halve in first half of 2022 15 September 2022
Tunisia: Carthage Cement recorded a 48% year-on-year drop in its sales in the first half of 2022, to US$52.1m from US$101m. The producer’s net income for the half was US$4.73m, down by 51% from US$9.74m. It carries forward accumulated losses of US$315m.
Carthage Cement attributed its continued losses to delays to its commissioning of its upcoming new cement plant, as well as additional costs on top of the initial investment. It relied on short-term credits for part of the project’s funding. The company has restructured its bank loans and increased its capital to US$52.9m, in addition to an issue premium of US$10.8m.
Argos USA obtains loan 15 September 2022
US: Argos USA has obtained a US$750m loan for the financing of its working capital and capital expenditure and refinancing of its debt. The loan is linked to environmental, social and governance (ESG) metrics. Bank of Nova Scotia, BNP Paribas, JP Morgan Chase Bank, SMBC and Bank of New York Mellon lent the funds, assisted by Cuatrecasas.
Parent company Cementos Argos said "With this credit agreement, around 44% of Cementos Argos' consolidated debt will be linked to ESG indicators, bringing it closer to the 50% target for 2022 previously announced to the market, and thus reaffirming the company's commitment to meeting ambitious goals in terms of sustainable growth."