Displaying items by tag: China

China: Tangshan Jidong Cement plans to acquire about 108.48 million additional shares in Jilin Yatai Group for US$60.3m, at US$0.56/share. After that, Jidong Cement will hold less than a 5% stake in Jilin Yatai. Jidong Cement said that the capital source of the external investment was a self-owned one and that the deal would not affect its 2014 operations.

China: China intends to stop the production of Ordinary Portland Cement (OPC) 32.5 grade cement. Liu Ming, an official of the National Development and Reform Commission (NDRC), made the comment at a forum according to the Xinhua news agency.

Stopping production of OPC 32.5 grade cement would reduce the country's total cement output by 340Mt/yr, accounting for 11% of the total output. The large amount of OPC 32.5 grade cement had led the overcapacity of the cement industry.

Turkey: Göltaş Goller Bolgesi Cimento has contracted Chinese company Catic Beijing Co to set up a waste heat recovery power plant for a cost of Euro14m. The plant is expected to be installed in two years and should reduce electricity costs by 25% when operational, according to Göltaş. The company's integrated cement plant is located in Turkey's southwestern province of Isparta

China: According to local media, Chinese authorities have detained two senior executives at units of China Resources Holding as the chairman of the state-run conglomerate, Song Lin, is being investigated for corruption.

Wang Hongkun, an executive director of China Resources Land and Wu Ding, chief executive of China Resources Capital Holdings, were detained. China Resources Land said that Hongkun had resigned due to personal health reasons.

China's top anti-corruption body said it was investigating Lin for a 'Serious violation of discipline.' Song has denied the allegations.

China Resources Holdings said that it had appointed Fu Yuning, a former chairman of China Merchants Group, as its new chairman.

China: Guangdong Tapai Group plans to invest about US$570m towards building a new clinker production line in Meizhou City in Guangdong Province. The line will include two 10,000t/day rotary kiln clinker production lines and two 20MW low-temperature waste heat power generation system. The project will produce 6Mt/yr of clinker and is pending government approval.

China: The government of Tianjin in northern China has said that it will not approve any new cement, steel or non-ferrous metals plants in a bid to fight pollution, according to state media. The statement follows a central government plan from 2013 to restrict new manufacturing in key industrial centres.

China has identified the region that includes Beijing, Hebei and Tianjin as one of the key targets of a programme to reduce the emissions of 'heavy' industries including cement, steel and thermal power, according to reports from Reuters. It has promised in policy documents released since 2012 to block the construction of new industrial plants in three major 'low-emission' regions, including Beijing-Hebei-Tianjin, the Yangtze river delta region centring on Shanghai and the Pearl river delta region in southern Guangdong Province. China's environment ministry has said that these regions are responsible for 40% of the country's total cement output despite covering just 8% of the country's total area.

Tajikistan: Construction work on two cement plants with a total installed production capacity of 1.8Mt/yr has started in northern Tajikistan. President Emomali Rahmon attended the opening ceremonies of both plants.

The first plant, Ghayur-Sughd Cement - with a production capacity of 1.2Mt/yr - will be built in Ghafur district on a 48 hectare site. The plant will be built by the Tajik Ghayur company together with a Chinese partner, Huaksin Central Asia Investment. The cost of the project is over US$100m. After the plant is commissioned it will employ 1000 people. The first unit of the plant is scheduled for launch in 2015 and the second in 2016. Previously Tajik Ghayur and Huaksin built the 1Mt/yr Yuvon cement plant, which opened in 2013.

President Rahmon also attended the opening ceremony of the construction of Chjuntsay-Taboshar Cement plant. This 0.6Mt/yr plant is scheduled for completion in 2015 and it will employ nearly 500 people.

China: Asia Cement said that its subsidiary interest Sichuan Yadong Cement has entered into a framework agreement with the existing shareholders of Sichuan Lanfeng Cement to acquire their entire equity interest in Sichuan Lanfeng and thus indirectly the entire equity interest in Sichuan Lanfeng's wholly-owned subsidiary, Sichuan Lanfeng Building Materials.

The target companies principally engage in the manufacture and sale of cement, concrete and related products in Sichuan Province. They operate a cement plant located in Pengzhou City, Sichuan which comprises two new dry process clinker production lines with a total cement production capacity of 5Mt/yr.

The parties are expected to sign the formal sale and purchase agreement before 16 April 2014.

China: China Tianrui Group Cement Company has reported that its revenue rose by 14% to US$1.40bn in 2013 from US$1.22bn in 2012. Its gross profit remaining static at US$305m in 2013 and its earnings before interest, taxes, depreciation and amortisation rose slightly to US$356m. The Chinese cement producer attributed the rise in revenue to increasing sales volumes of cement in response to a 'proactive' pricing strategy and a general increase in demand driven by rural development and the demand from certain large-scale infrastructure projects, such as the South-North Water Transfer Project.

Sales of cement rose by 19% year-on-year to US$1.30bn in 2013. Sales of clinker fell by 23% to US$107m. By region, the company saw its revenue in its Central China region rise by 13% to US$1.01bn. In Northeastern China its revenue rose by 16% to US$385m. By volume, the company sold 36.9Mt/yr in 2013, a rise of 41.4% from 2012.

In 2013 Tianrui acquired one 1.2Mt/yr clinker production line and six cement production lines with a combined production capacity of 5.3Mt/yr in Liaoning and Henan provinces, at a cost of US$109m.

China: China Resources Cement (CRC) saw its net profit rise by 43.6% year-on-year in 2013 to US$430m from US$299m in 2012. Its turnover rose by 15.8% to US$3.78bn from US$3.27bn. The southern Chinese cement producer attributed the rise to improving market conditions since April 2013.

CRC increased its sales volumes of cement by 20% to 67.1Mt in 2013 from 55.9Mt in 2012. Sales volumes of clinker fell by 11% to 7.78Mt from 8.74Mt. By province sales volumes of cement increased by 29% to 23.2Mt in Guangdong, 13% to 23.5Mt in Guangxi, by 29% to 9.4Mt in Fujian, by 1% to 4.0Mt in Hainan, by 20% to 3.8Mt in Shanxi and by 15% to 3.1Mt in Yunnan.

During the year CRC increased its clinker production capacity by 1.4Mt/yr and its cement production capacity by 2Mt/yr due to the completion of a 4500t/day clinker line and two cement grinding lines at Changzhi, Shanxi province. Two 1200t/day clinker lines in Shanxi ceased operation due to their likely lack of compliance with new environmental emissions standards, reducing the group's cement production capacity by 1Mt/yr.

In its annual report CRC also mentioned that it had accelerated its NO_x reduction upgrades at its production lines. As of 31 December 2013 37 clinker lines had been upgraded with two outstanding scheduled for the first half of 2014. The group has also completed upgrades for dust collection systems at five clinker lines with upgrades for eight other lines scheduled. At the end of 2013 CRC had a total cement production capacity of 75.5Mt/yr and a total clinker production capacity of 51Mt/yr.

New construction projects CRC started during 2013 included a 1.6Mt/yr clinker line with two cement grinding lines with a combined capacity of 2Mt/yr at Jinsha County, Guizhou costing US$171m; a 1.2Mt/yr clinker line and two cement grinding lines with a combined capacity of 2Mt/yr in Midu County, Yunnan costing US$142m; a 1.6Mt/yr clinker line and two cement grinding lines with a combined capacity of 2Mt/yr at Hepu County, Guangxi costing US$168m; and a 1.9Mt/yr clinker line and three cement grinding lines with a combined capacity of 3Mt/yr in Lianjiang County, Guangdong costing US$218m.

CRC chairman Zhou Longshan said that the state-owned company plans to increase production capacity through its own projects and through acquisitions focused on Guangdong, Guangxi, Hainan and Fujian in 2014. He expects demand for cement in China to grow by 6 – 8% in 2014.