Displaying items by tag: GCW403

Oman: Raysut Cement has confirmed its plans to buy a 1.7Mt/yr grinding plant owned by Sohar Cement based in Sohar. The acquisition also includes purchasing the company’s distribution network, according to the Oman Daily Observer newspaper. Sohar Cement holds a 70% stake in the business, with UAE-based Fujairah Cement Company owning the remaining share.

Iran/Iraq: Hamid Hosseini, the secretary general of Iran-Iraq Joint Chamber of Commerce, says that exports of cement from Iran to Iraq and the Kurdistan region of Iraq have been suspended for the last year. Tariffs were added first before a ban, according to Tejarat News. At present exports of clinker are allowed.

India: Birla Corporation’s revenue rose by 10% year-on-year to US$944m in the financial year to 31 March 2019 from US$856m in the same period in 2018. Its profit for the period rose by 66% to US$36.9m from US$22.2m. Notably, its power and fuel costs increased by 14% to US$214m from US$188m.

India: Sagar Cement has completed its acquisition of Jajpur Cements at Jajpur in Odisha at a cost of US$16m. It now plans to build a new 1.5Mt/yr cement grinding plant at the site for US$44m. The project is subject to regulatory approval but it is scheduled for completion by March 2021.

Bangladesh: Sayem Sobhan Anvir, the managing director of Bashundhara Group, has signed a cement supply agreement with Tao Jun, the project manager of the Padma Bridge Rail Link for China Railway Group. Bashundhara Group will supply over 0.7Mt of cement for the project, according to Daily Sun newspaper. The US$3bn train line will run for 225km between Dhaka and Jessore.

Nepal: The government plans to prioritise cement as a major export. It made the announcement as part of a presentation to parliament for the 2019 – 2020 financial year, according to the Himalayan Times newspaper. However, Dhruva Thapa, president the Nepal Cement Producers' Association said that the government needs to cut taxes on the cement industry to make exports competitive.

Pakistan: The gas supply to Lucky Cement’s Pezu plant has been disrupted by an investigation by Suit Northern Gas Pipelines (SNGP) into unaccounted-for gas. An initial short shutdown to the supply has been extended to over a month, according to the news International newspaper. The gas supplier is investigating widespread theft of its gas via illegal connections.

North Korea: The state-owned Sangwon Cement plant plans to increase its production output by upgrading a speed reducer in a raw material crusher. The plant launched a seawater-resistant cement product in 2018, according to the Pyongyang Times newspaper. It has been supplying this product to projects in the Wonsan-Kalma coastal tourist area.

Kenya/Tanzania: The governments of Kenya and Tanzania are working together to resume exports of cement. A delegation of Tanzanian officials are due to inspect cement plants in Kenya to verify the source of the raw materials used in their manufacture, according to the East African newspaper. This could then lead to exports of cement from Kenya to Tanzania to be re-allowed.

The two countries recently held bilateral trade talks in Arusha on non-tariff barriers. They agreed to speed up the verification missions recommended for confirmation of product origin as provided for in the East African Community rules of origin. Tanzania blocked cement despatches from Kenya in 2018 due to the use of imported clinker.

Zimbabwe: Switzerland’s LafargeHolcim has lent US$30m in the form of a long-term loan to Lafarge Zimbabwe. The company has taken out a short-term loan of US$4.4m from a local bank, according to the Zimbabwe Independent newspaper. In its financial results for the 2018 the cement producer reported that its revenue grew by 24% year-on-year to US$72m in 2018 and that its profit before tax grew strongly to US$4.4m.