Displaying items by tag: GCW258
Anhui Conch cancels deal to buy West China Cement
04 July 2016China: Anhui Conch has cancelled a deal to buy West China Cement. The commerce authorities failed to approve the deal by a deadline on 30 June 2016. Anhui Conch offered nearly US$600m to buy West China Cement in November 2015. In a joint statement the cement producers said that ‘certain conditions’ including approval by the authorities had not been met. They added that, “they will continue to meet future opportunities for business collaboration in different structures or manners.”
Israeli court enters Lev Baron cement import row
04 July 2016Israel: The Supreme Court has posted a temporary injunction preventing the Israel Ports Development & Assets Company and the Ashdod Port Company from halting the cement imports of Lev Baron Commodities. The injunction was imposed in response to an appeal by Lev Baron against Israel Ports and Ashdod Port, according to Israel Business Arena. The move by the court is the latest in a battle between Lev Baron and Israel Ports over the terms of their relationship.
Lev Baron imports cement into Israel, mainly from Cyprus and Turkey. In 2015, it imported 800,000t of cement and is expected to reach 900,000t in 2016. Lev Baron’s imports account for 14% of the cement supply in Israel and the Palestinian Authority.
Saudi Arabia: ABB has commissioned an electrical infrastructure upgrade for the Eastern Province Cement Company’s (EPCC) two cement production lines at its plant in Al Khursaniya. The project upgraded the existing 75MV Switchgear Panels and integrated the power supply systems with the ABB 800xA automation system already in place. Commissioning was completed in February 2016.
“ABB has completed the final upgrade on site in a record time during the planned maintenance shutdowns of the plant,” said Mohammad Arif Khan, Electrical and Instrumentation Manager at EPCC. “The excellent teamwork between EPCC and ABB engineers made it possible to meet this challenge without affecting the production of the other production lines.”
The scope of supply included the replacement of the 30-year old protection compartment of 75MV (13.8kV and 4.16kV) Switchgear Panels with the latest generation of ABB Relion protection relays, integration via IEC61850 with the 800xA automation system and the delivery of computer and network equipment. ABB also provided project management, engineering, site services and training together with its supplier EcoWatt Projects.
China: China Resources Cement (Fengkai), a subsidiary of the China Resources Cement, has started operation of its sixth 5000t/day clinker production line at its cement plant in Fengkai County, Guangdong Province. The site has a total clinker production capacity of 9.3Mt/yr and a cement production capacity of 8Mt/yr. the plant mainly serves the Pearl River Delta area of Guangdong Province.
Kazakhstan: Chinese investors have proposed to build a 075Mt/yr cement plant in the Kyzylorda region of Kazakhstan. The proposal was revealed as part of 13 memoranda of cooperation worth US$451m signed between the Governor’s Office of Kyzylorda region and the People's Government of Jiangxi Province, China.
India: Sagar Cements has received approval to buy a cement grinding plant in Bayyavaram, Andhra Pradesh owned by Toshali Cements for US$8.9m. The sale is expected to be completed by 30 September 2016 subject to obtaining due diligence and other approvals.
Following the acquisition, Sagar Cements intends to increase the grinding plant’s production capacity to 3Mt/yr with an investment of up to US$0.89m. The new unit will enable Sagar Cements to reduce its logistical costs and introduce slag cement to markets in Visakhapatnam, Vizianagaram, Srikakulam and parts of Orissa.
India: Malabar Cements will restart operations at its Cherthala cement grinding plant following approval from the Kerala High Court. The cement producer says its has been granted permission to produce Portland Pozzolana Cement (PPC) using clinker, gypsum and fly ash at the plant. Previously the Bureau of Indian Standards objected to the cement producer manufacturing PPC.
Mongolia: The second-stage clinker line of a 1Mt/yr project being delivered by China Triumph International Engineering was successfully ignited in early June 2016. The cement plant will now start regular production. The project is part of the Belt and Road initiative and ‘Going Global’ strategy of China’s building materials industry.
Canada The Quebec government has said that it has no plans to invest further into the McInnis Cement plant on the Gaspé Peninsula. Dominique Anglade, the province's Economy Minister, said on 29 July 2016 that she was confident that the US$854m project would be profitable and there will be no further investment on the part of the government, according to the Globe and Mail newspaper. Key investors, including the Bombardier-Beaudoin family and the Caisse de dépôt et placement du Québec, are facing additional costs of up to US$350m, according to sources cited by the newspaper.
The provincial government says it has taken action since learning of the cost overrun, including securing guarantees regarding the financial package needed in the short term to ensure completion of the project. Other unspecified ‘additional conditions’ have also been attached to the government's financial contribution. Quebec is a major equity partner in the project, with a US$78m investment. It also provided a US$194m loan on commercial terms.
The cement plant has a planned launch of operations set for spring 2017.
Prism Cement secures coal contract from Coal India
01 July 2016India: Prism Cement has purchased 120,000t/yr of coal from South Eastern Coalfields, a subsidiary of Coal India. The cement producer successfully bid for the fuel in a recently held auction of coal linkages for the cement industry. The company said that it has secured part of its fuel requirement for the next five years and the allocation by Coal India has been made at the floor price.