Displaying items by tag: China

Mozambique: Chinese West International Holding subsidiary Dugongo Cement has inaugurated its 2.0Mt/yr integrated Matutuine cement plant in Maputo province. The unit had an investment of US$330m, according to the Mozambique News Agency. The site includes a captive 36MW charcoal-fired power station and a residential complex for some of its 300 permanent staff.

President Filipe Nyusi said, “The Dugongo Cement plant will improve the economy of the cement industry, because it will reduce the import of inputs such as clinker."

China: China National Building Material has amended the funding arrangements for an upcoming joint venture of its subsidiaries China United Cement and Henan Investment Group. Reuters has reported that China United Cement will now contribute US$937m to the joint venture’s registered capital, while Henan Investment Group will contribute US$622m.

China: China Resources Cement has appointed Jing Shiqing as its vice president.

Jing joined China Resources Cement in 2003 working in various production technology, human resources management and administration management. He became the Deputy General Manager of the Human Resources Department in 2018 and became a non-executive director of the company in the same year. Jing holds a bachelor's degree in engineering from the Changsha University of Science and Technology and a master's degree of business administration from the Nanjing University.

Vietnam: SSI Research has predicted that Vietnamese cement exports will not grow in 2021. The reason for this is the expected stabilisation of China’s domestic cement supply, which is forecast to increase its share of the market. The Viet Nam News newspaper has reported that China accounts for 57% of Vietnamese cement and clinker exports. Other factors restricting export growth are safeguard duties in Bangladesh and the Philippines and the Vietnam government’s mandatory minimum domestic sales regulations, variously between 65% and 70% of total output.

Taiwan: Taiwan Cement’s revenue rose by 11.3% year-on-year to US$788m in the first quarter of 2021. Its income increased by 11% to US$119m. It attributed this to profit growth in its cement businesses in Taiwan and Europe despite ‘weak’ sales prices in China.

Chairman Nelson Chang said, “To reduce carbon emissions, using alternative fuel and material for cement production, adopting renewable energy, and expanding energy storage usage are crucial and Taiwan Cement aims to play our role in helping society achieving the goal of a low carbon environment.” In 2020 the group processed over 9Mt of alternative fuels in its Greater China business.

Kenya: The Competition Authority of Kenya has granted China-based Zou Fengqi and Oman-based Raysut Cement exemption from regulatory approval on a recent application in line with competition guidelines. The Business Daily newspaper has reported that the application stated that Zou Fengqi plans to acquire a 60% stake in Raysut Cement’s business in East Africa.

Raysut Cement operates grinding plants in Mogadishu, Somalia and Somaliland.

China: Sinoma International Engineering has signed a deal worth US$300m to build a new integrated cement plant for Guangxi Jinxiang Cement. The contract includes two 6000t/day clinker production lines, from raw material crushing to packaging, and a 6Mt/yr aggregate line. The project is located in Dashan Village near Shilong Town, Xiangzhou County in Guangxi region. It is expected to be completed by mid-2022.

North Korea: The North Korea government says that it will supply 10,000t/yr of cement to every city and county in the country. The new target will help to fulfil the aims of the January 2021 Five Year Plan, under which the state aims to build 10,000 apartments/year in Pyongyang and 5000 apartments/year in Komdok. The 38 North project has reported that in order to realise this vision, it plans to establish 8.0Mt/yr of new capacity via upgrades and new projects by January 2026.

In March 2021 a North Korean delegation visited a Chinese cement plant to learn about modern cement production.

China: Malaysia-based YTL Corporation has has sold its 100% stake in Zhejiang Hangzhou Dama Cement. The company acquired the producer in 2007. It operates a cement plant located in the Lin’an district of Zhejiang Province. Executive chair Francis Yeoh said that it chose the time to sell based on the high current valuation of the subsidiary.

Managing director Datuk Seri Michael Yeoh Sock Siong said that the disposal was aligned with the group’s focus on becoming a regional cement industry leader in Southeast Asia. He said "Dama was our first substantial foray into China’s cement industry. The vital insight and knowledge that we have gained will be used in our plans to expand our operations within Southeast Asia."

Laos: Workers at the Guestown-Lao cement plant have been paid back wages in a dispute. All 170 employees owed money by the Guestown-Lao company plant in Luang Prabang province’s Nam Bak district have now received US$42,000 from the plant’s new owner, according to Radio Free Asia. Some of the former employees of the plant have also returned to work under the new management.

Provincial authorities detained the Chinese owner of the Guestown-Lao plant in April 2021, accused him of failing to pay wages to his Lao workers in November 2020 and subsequently filed criminal charges against him. He is now awaiting trial on the charges. The company has since been taken over by China-based Jian Qe.