Displaying items by tag: GCW208
UltraTech Cement’s non-executive director resigns
06 July 2015India: Adesh Gupta, UltraTech Cement's non-executive director, has resigned from the board with effect from 30 June 2015. Gupta cited time constraints for pursuing professional and personal engagements as reasons for his stepping down.
UAE: According to a Companies and Markets report, after the economic downturn of 2008 - 2009, the cement market in the UAE is showing a positive rebound and is expected to grow by 7.56%/yr in 2014 - 2019.
The UAE is currently producing double its cement demand. Over 50% of the cement produced in the UAE is exported to Oman, Egypt and other African countries. However, analysts believe that in the coming years the cement export share will decline to meet the growing domestic demand.
The growth of the cement market in the UAE is being primarily led by a surge in construction investment because of the revival of economy. The government will invest US$700bn in the next 15 years towards the infrastructure development in the country. Ahead of Dubai EXPO 2020 and UAE National Vision 2021, major investment will be directed toward transport and power infrastructure.
Dangote to build US$150m new cement plant in Yaounde
06 July 2015Cameroon: According to All Africa, US$150m will be invested by Dangote Group to build a new cement plant in Yaounde. The board chair and CEO of the Dangote Group, Aliko Dangote, said that the investment's aim will be to 'totally eliminate' any future cement demand increase in the country."Cameroon will not lack cement. We can assure the government that we are here to stay and will continue to invest," said Dangote.
India: According to the Economic Times, JSW Cement plans to bring down its cement-making cost by as much as 75% by setting up grinding units closer to markets, in contrast to the traditional model of clinker units placed near the source of raw material.
According to the plan, the new units will use clinker imported from countries that have a surplus, thus allowing JSW Cement to add 1Mt/yr of capacity for about US$28.3m, compared to US$132m required to set up a similar capacity under the traditional model.
JSW Cement plans to establish several such grinding units on the country's east coast in West Bengal and Odisha, taking its cement capacity up to 20Mt/yr by 2020. "Our novel model involves setting up inexpensive grinding facilities closer to the markets rather than building cost-intensive clinker units closer to the raw material reserves," said Parth Jindal, son of group chairman Sajjan Jindal.
According to Anil Kumar Pillai, CEO at JSW Cement, typically 67% of cement capacity investment goes into clinkerisation and 33% goes into grinding. "We are investing 33% in grinding units. Hence, our balance sheet will be far leaner, service cost on interest will be far lower and our profitability ratio will be far better," said Pillai.
"Once our balance sheet gets strengthened with strong earnings profile to support large-scale investments, we will look at backward integration to acquire limestone reserves and set up clinkerising units," said Jindal.
US cement production up year-on-year in April 2015
03 July 2015US: The United States Geological Survey (USGS) has reported that total Portland and blended cement shipments in the USA and Puerto Rico came to 7.7Mt in April 2015, a 4.1% rise compared to April 2014. In the first four months of 2015, shipments rose by 5.1% to 24.1Mt. As previously, the leading cement-producing states were Texas, California, Missouri, Florida and Alabama.
Clinker production in April 2015 was 6.1Mt, a rise of 6.4% year-on-year. Production of clinker in the four months to 30 April 2015 rose by 7.7% from the same period of 2014 at 21.6Mt.
Pioneer signs waste heat recovery deal with CITIC
03 July 2015Pakistan: Pioneer Cement has signed an agreement with CITIC Heavy Industries, China to purchase a 12MW Waste Heat Recovery (WHR) system. The company's plant is located at Chenki, District Khusshab, in the heart of Punjab Province, 250km from Lahore. According to the company notice sent to the Karachi Stock Exchange (KSE), the total estimated cost of the plant is US$14.7m.
Russian plant elects board chairman
03 July 2015Russia: The Board of Directors of Verkhnebakanskiy Cement Works elected Lev Kvetnoy as Chairman of the Board of Directors on 1 July 2015.
Angola: According to Macau Hub, the Kwanza Sul Cement Factory (FCKS) plans to increase its production to 4500t/day from the current 4200t/day.
The director of the plant's accounting department, Alberto Kiala, said that the increased production would result from increased financial resources to buy raw materials and fuel. FCKS, which produces the Yetu brand of cement, started operating in Angola in February 2014. The plant has units for clinker production, a 41MW power plant and a factory to produce paper bags for packing cement.
Nigeria: According to Business Day, Cement Company of Northern Nigeria (CCCN), plans to inject US$241m into the ongoing modernisation of its facilities to double its production capacity.
Managing director Alf Karlsen said that the project would raise the company's cement production capacity by 200% to 1.5Mt/yr. "The expansion is part of the ongoing modernisation and cost optimisation programme. It aims to reduce costs and enhance production capacity with a view to ensuring that CCNN remains competitive in the cement industry. The increase in installed capacity would enable the company to maintain its current market share and expand into new markets," said Karlsen. Karlsen also disclosed that CCCN has completed the acquisition of new mining areas to expand its quarry activities.
CCCN's expansion project has led to the relocation of the Sabon-Gida, Danatu and Gidan Mubaga villages, 'to a fully developed new settlement provided by the firm.' "CNN provided the land for resettlement, constructed access roads, provided electricity, mechanised borehole with reticulation, as well as a community mosque, clinic, primary and Islamiyya schools, among others. All this was done to ensure that there is an improved life for the communities as part of our corporate social responsibilities," said Karlsen.
UAE: According to UAE Interact, the UAE's Ministry of Environment and Water has conducted field inspections at cement plants to determine their compliancy with national standards. A team of specialists from the external audit sector conducted both scheduled and surprise visits to nearly 20 cement plants as part of their annual evaluation process for ensuring complete implementation of the legislation. Saif Al Shara, assistant undersecretary of the UAE Ministry of Environment and Water's external audit sector, said that the latest assessment results show that the plants adhere to 60% of category A national standards, up from their 39% compliancy in 2013. For category B, cement plants complied with 35% of standards, compared to 33% in 2013. Finally, for category C, compliance fell from 17% in 2013 to 5%.