Displaying items by tag: GCW566

US: Titan Cement Group has invested in renewably powered Heat Battery developer Rondo Energy, in the California-based company’s Series A funding round. The Heat Battery is a 98% efficient electrical heater with high scalability, according to the supplier. Its modular battery provides grid load flexibility, with the possibility of continuous operation. Titan Cement Group says that it will now work in a technological partnership with Rondo Energy to develop new concepts for cement decarbonisation using Rondo Energy’s ‘unique innovation.’

Kyrgyzstan: Kant Cement has begun excavating the Severnaya Gryada limestone deposit near to its Kant cement plant. The producer says that the limestone has a higher purity than that from its existing Agalatas mine. It therefore expects the Kant plant to reduce its raw materials consumption and eliminate a part of its dust emissions. Kant Cement currently replaces a part of the limestone in the plant’s cement production with 65,000t/yr of fly ash.

Egypt: Misr Cement Qena commenced automated cement production at its Qena cement plant in early July 2022. The automation systems also cover plant maintenance processes. Misr Cement Qena awarded a technical management contract for the plant to Arab Swiss Engineering Company in June 2021.

Misr Cement Qena said "This step came in line with the company’s growth strategy to reduce operating costs and maximise asset utilisation in order to meet current challenges."

India: ACC recorded sales of US$559m in the first quarter of the 2023 financial year. The figure corresponds to a 15% year-on-year rise from US$486m in the first quarter of the 2022 financial year. The company's cement sales during the quarter rose by 13% to US$520m from US$460m. Its net profit was US$28.5m, down by 60% year-on-year.

Press Trust of India News has reported that ACC attributed the profit drop to 'rising global fuel costs and related inflationary impacts.' It said that waste heat recovery (WHR) installations at its Jamul, Kymore and Ametha cement plants will increase its renewable energy share to 15%, 'further accelerating the cost reduction journey.'

China: Tangshan Jidong Cement expects to record a 3.9 - 12% drop in its net profit in the first half of 2022. This would result in a figure of US$157 - 171m, compared to US$178m a year earlier.

India: The Indian Ministry of Mines and Indian Bureau of Mines have awarded UltraTech Cement Five Star ratings for 10 limestone mines across India. Assessment took place within the Indian mining Sustainable Development Framework, which quantifies sustainability, efficiency, land use and resettlement, besides other social impacts.

India: JSW Cement has dedicated a new temple at its Ankur commune in Salboni, West Bengal, to the goddess Maa Kali. The Orissa Diary newspaper has reported that architecture firm Dulal Mukherjee and Associates designed the temple in the 17th century Bishnupur style. The place of worship is made of locally sourced terracotta.

JSW Cement spokesperson Anushree Jindal said "JSW Cement believes in collaborating with local communities to empower them for a better future. I feel blessed and privileged to have facilitated the creation of a pious, safe haven of worship for the local community in Salboni."

China: Fitch Ratings expects West China Cement to record a first-half sales decline of 10% in 2022, due to ‘sluggish’ residential construction, on-going Covid-19 restrictions and high coal costs due to the Russian invasion of Ukraine. The rating agency predicted a ‘mid-single digit’ full-year sales decline in 2022, with a gross profit margin for the group of 28%, compared to 30% in 2021. This probability results from higher costs arising from overseas investments during the year.

Kazakhstan: Steppe Cement has received notification from Consilium Investment Management that funds under its management have ‘collectively ceased as a significant shareholder’ in the producer.

Consilium Investment Management previously represented a 5% stake in Steppe Cement’s shareholding.

Switzerland: Indonesian citizens of Pulau Pari have launched a legal case against Holcim in Switzerland for its contribution to climate change. Holcim operated in Indonesia from 1971 through its subsidiary Holcim Indonesia, which Semen Indonesia acquired from the group in 2019. Pulau Pari faces increased climate change-induced flooding, including two floods in 2020. Four residents have launched the present case against Holcim for damages, funding for flood defences and positive measures towards further group CO₂ emissions reduction. Indonesia-based environmental organisation Walhi, Swiss Church Aid (HEKS) and the European Center for Constitutional and Human Rights (ECCHR) are supporting the case.