Displaying items by tag: Asia

China: Sinoma International Engineering has appointed Yin Ling as its chief financial officer and as a vice president. She succeeds Wang Yuan in the post. Yuan will continue to work as a vice president for the company.
Ling holds a bachelor’s degree in economics and is trained as an accountant. She has worked for Huazheng Certified Public Accountants, China Fiberglass and as the general manager for the finance department of China National Building Materials.

India: Dalmia Bharat recorded a 2% year-on-year decline in cement sales volumes to 6.7Mt in the third quarter of the 2025 financial year, compared to 6.8Mt in the previous corresponding period. Profit before tax dropped by 77% to US$9.6m, while earnings by interest, taxation, depreciation and amortisation (EBITDA) dropped by 34.5% to US$5.9m from US$9m in the same period last year.

Managing director and CEO Puneet Dalmia said “After multiple years of high growth, India witnessed a slightly slow start to the year, but the government's continuous focus on investment-led growth underpin my confidence in a rebound of the Indian economy. In this backdrop, I believe cement demand growth will regain momentum. Our capacity expansion plans are on track, as we will reach 49.5Mt/yr by the end of 2025.”

CFO Dharmender Tuteja added “Cement demand growth in the third quarter fell short of our earlier expectations. Our volumes declined by 2% year-on-year while EBITDA fell 34.5% year-on-year to US$5.9m with persistent weakness in cement prices. With demand now gaining traction and prices showing signs of optimism, we are confident about a stronger performance in the upcoming quarters.”

India: Nuvoco Vistas has reported 16% year-on-year growth in its consolidated cement sales to 4.7Mt in the third quarter of the 2025 financial year ending on 31 December 2024.  Consolidated revenue from operations stood at US$279m and consolidated EBITDA at US$30m. In its release, the company stated that the cement industry was recovering following a challenging first half of the 2025 financial year and subdued demand.

Nuvoco stated that it had achieved the industry's ‘lowest carbon emissions’ at 457kg of CO₂ per tonne of cementitious materials.

Managing director Jayakumar Krishnaswamy said “The company proactively seized demand opportunities to bolster its position in the market and delivered strong volume growth during the quarter. The company is confident in its expansion strategy and ability to execute on growth plans pertaining to Vadraj Cement, which will diversify its market footprint in western India, thereby supporting long-term growth ambitions and further consolidating its position as the fifth largest player in India.”

The company is reportedly on track to achieve 31Mt/yr cement capacity by the third quarter of the 2027 financial year.

Pakistan: Attock Cement has commissioned a 4.8MW wind turbine project at its Hub site, it stated in a notice to the Pakistan Stock Exchange. The company says that the project aligns with its commitment to sustainable cement production and aims to reduce power costs.

Cambodia: The government has waived the 5% tax on domestic cement products from January 2025 to December 2026 to support the local cement industry, as announced by the Ministry of Economy and Finance.

The exemption reportedly aims to alleviate financial burden on the industry and promote growth. Local cement companies must comply with obligations including tax filings, maintaining comprehensive records and submitting annual reports detailing production, costs and social initiatives.

To date, Cambodia’s cement industry has attracted over US$1.2bn in investments, creating more than 2700 jobs and ‘significantly’ contributing to the economy, according to Construction & Property news.

India: Kaushalya Logistics has opened new depots for Ambuja Cement, part of the Adani Cement Group, in Kurukshetra and Bhiwani, Haryana.

This marks the first phase of a strategic expansion approved by ACC & Ambuja Cement to establish operations at key locations in Haryana, including Kaithal and Fatehabad. The new depots reportedly aim to improve inventory management, reduce transit times and enhance connectivity across key industrial hubs in the region.

Azerbaijan: Cement production reached 4.03Mt in 2024, up by 1.6% year-on-year, according to the State Statistics Committee. The total value of the construction materials sector rose by 17% to US$823m. Production of bricks and similar products from cement and concrete increased by 41%, while cement clinker output grew by 16%.

Nepal: The Public Accounts Committee of the House of Representatives has received a complaint alleging that cement producers have created artificial shortages in order to raise prices, according to Republica newspaper. A meeting has been scheduled to discuss the complaint.

Türkiye: According to the Turkish Ministry of Trade, Türkiye's global cement exports declined by 6.2% in 2024 to US$4.3bn, with exports in December 2024 amounting to US$341m, a 3% year-on-year decrease. Cement exports over the 12-month period from December 2023 to December 2024 also stood at US$4.3bn.

Cement exports from Türkiye to Kyrgyzstan also dropped in 2024, by 86% year-on-year, amounting to US$3.9m. However, December 2024 exports to Kyrgyzstan rose 7.2% year-on-year to US$751,065.

Philippines: Aboitiz Upgrade Solar (AUSI), a joint venture between Aboitiz Power and Upgrade Energy Philippines, is building a ground-mounted solar facility at Republic Cement’s Norzagaray plant in Bulacan, according to The Philippine Star. Under the power purchase agreement, AUSI will fund and operate the project, while Republic Cement will exclusively purchase the generated power.

The facility is set to be completed in the second half of 2025, with capacity and project costs undisclosed.