Displaying items by tag: Hongshi Shivam Cement

Nepal: Cement produced by Hongshi-Shivam cement, a joint venture of Shivam Group and China’s Hongshi Cement, failed to meet the mandated 30-minute initial setting window in tests conducted by the Nepal Bureau of Standards and Metrology (NBSM). Gulf Daily has reported that the NBSM will pursue legal action against the company.

Nepal: A large number of cement plants are reported to have violated standard manufacturing practices and are selling products that are not up to international standards, according to the Nepal Bureau of Standards and Metrology.

The national standards body said that 25% of factories were producing sub-standard products, based on the tests of samples and market inspections conducted in the last fiscal year that ended in mid-July 2019. Some of the larger manufacturers included in the 25% were Hongshi Shivam Cement, CG Cement and Arghakhanchi Cement. A further 14 smaller suppliers were also included.

Nepal: A consortium of Nepal’s five commercial banks has approved credit worth US$140.5m to Hongshi Shivam Cement Private Limited, a Nepal-China joint venture company, in one of the largest ever finance pledges by Nepali commercial banks to any industry or infrastructure project. Company officials said that they would use the loan pledged by the commercial banks to start commercial production of cement at Hongshi Shivam’s 6000t/day plant.

The consortium led by Nepal’s NMB Bank, co-led by Nepal Investment Bank and participated in by Prabhu Bank, Everest Bank and Nepal SBI Bank, pledged the loan to the cement company, which has been conducting trial production of cement since May 2018.

The joint venture said that the loan was sought from Nepali banks to conclude financial closure of the cement plant. It has already received approval to inject Foreign Direct Investment (FDI) worth US$86m from Investment Board of Nepal and the central bank. The Chinese joint-venture partner has pledged to inject total FDI of US$360m, making it the largest FDI ever in the country’s cement industry.

Nepal: Shivam Cement has received approval from the Securities Board of Nepal (SEBON) to launch an initial public offering. It will be the first cement producer in the country to become public, according to the Republica newspaper. Shivam Cement operates a 1250t/day plant and it has a captive limestone mine. The company also holds a 30% share in Hongshi-Shivam Cement, a Nepalese-Chinese joint venture that has started trial production at the Hongshi Cement near Dumkibaas in Nawalparasi district.

Nepal: Hongshi-Shivam Cement has started trial production at its new plant near Dumkibaas in Nawalparasi district. The joint venture between Nepal’s Shivam Holdings and Hong Kong Red Lion Cement No 3, a subsidiary of China’s Hongshi Group, plans to start commercial production by the end of June 2018, according to the Kathmandu Post. The Chinese company owns a 70% stake in the joint venture. The unit has a production capacity of 6000t/day.

In September 2017, the Investment Board of Nepal had signed a US$359m project investment agreement with Hongshi-Shivam Cement to build the plant. A 10km road was built to connect the site to the main local highway and another 22km road was built to link up a limestone quarry at Palpa. The company plans to double the unit’s production capacity to 12,000t/day by 2020.

Nepal: The Investment Board of Nepal (IBN) has signed a project investment agreement worth US$359m with China’s Hongshi-Shivam Cement in connection with a cement plant being built at Nawalparasi. The agreement is the first of its kind signed by the IBN with a private sector company and it will last 15 years, according to the Kathmandu Post newspaper. The investment deal is the biggest made by a foreign company in the country’s manufacturing sector.

Hongshi-Shivam Cement is a joint venture between Nepal’s Shivam Holdings, which also produces Shivam brand of cement, and Hong Kong Red Lion Cement No 3, a subsidiary of China’s Hongshi Group. The Chinese company owns a 70% stake in the joint venture. Commercial production of cement is planned to start at the plant in 2018.

Nepal: The Investment Board Nepal has delayed signing a Project Investment Agreement (PIA) with China’s Hongshi-Shivam Cement due to ‘technical reasons.’ The joint venture is currently building a US$360m cement plant at Nawalparasi. The deal, which would have protected the interests of the foreign investor, has been deferred while Prime Minister Sher Bahadur Deuba visits India in late August 2017, according to the Kathmandu Post newspaper. Sources quoted by the newspaper attribute the delay to tensions perceived by the Nepalese government regarding infrastructure projects backed by India and China. The agreement is expected to be signed on 3 September 2017.

Nepal: Hongshi-Shivam Cement plans to start cement production at its new plant in Nawalparasi from March 2018. Shiva Ratna Sharada, director of the joint venture company, told the Xinhua News Agency that construction at the site is underway. Once operational the plant will have a production capacity of 6000t/day, making it the largest site in the country. The company is planning to export cement to India, China and beyond with plans to expand the unit to 12,000t/day considered.

Nepal: Hongshi Shivam Cement’s Sardi cement plant project in Nalwalparasi is likely to be delayed due to slow progress by the government in building a road to a nearby limestone quarry. The project was due to start production in May 2017 but the slow rate of investment by the Chinese firm’s state partner has caused this completion estimate to be revised, according to the Kathmandu Post. Other infrastructure requirements for the project that are slowing it down include a 40km road to the site and an electricity substation.

Nepal: Residents of Jyamire are seeking ’fair’ compensation from a quarry that Hongshi-Shivam Cement is building. Villagers have prevented Chinese technicians from the Nepal-China joint venture from working near the village, claiming that the company has ignored their complaints, according to the Kathmandu Post. Around 32 households in the region will be displaced by the mining project. The villagers are seeking compensation in excess of the rate set by the government, which they say the cement company offered them initially.

Hongshi-Shivam Cement is building a cement factory at Sardi in Nawalparasi district. It has acquired a permit from the Department of Mines and Geology to extract limestone at Jyamire in Palpa. China's Hongshi Holding Group has invested US$330m and its local partner has contributed around US$140m towards the project. The plant will have a production capacity of 6000t/day when operational and it is expected to be opened in 2017.