Displaying items by tag: Hunan Liangtian Cement

China: China Resources Cement (CRC) turnover fell by 27% year-on-year to US$4.10bn in 2022 from US$5.60bn in 2021. Its profit dropped by 75% to US$247m from US$989m. Its cement and concrete sales volumes decreased by 11% to 72.1Mt and 27% to 10.8Mm³ respectively. During the reporting year the group says it optimised its presence in South China by acquiring majority stakes in Hunan Liangtian Cement and Zhaoqing Jingang Cement, buying a minority stake in Fengqing County Xiqian Cement and by selling a majority stake in Shanxi China Resources Fulong Cement.

China: China Resources Cement’s profit was US$993m in 2021, down by 13% year-on-year from 2020 levels. Its cost of sales grew by 22% to US$3.81bn from US$3.12bn. The group noted that the average cost of coal increased by 54% in 2021. It also pointed out that infrastructure investment growth slowed down in 2021. The company increased its turnover for the year by 9.7% to US$5.62bn. Sales volumes of cement and clinker fell by 7% to 81.3Mt and 7% to 3.3Mt respectively. Concrete sales volumes grew by 11% to 14.8Mm³.

During 2021 the group started construction of a second clinker production line and two cement grinding lines at its plant in Wuxuan, Guangxi. Once the upgrades are completed the plant will have a total cement and clinker capacities of 2.4Mt/yr and 1.4Mt/yr respectively. The group also acquired a 51% stake in Hunan Liangtian Cement in January 2022 to enter into the market in Chenzhou, Hunan. This company has cement and clinker production capacities of 1.6Mt/yr and 2Mt/yr respectively. An ongoing upgrade will increase the cement production capacity of 2.1Mt/yr. In March 2022 it sold its 72% stake in Shanxi China Resources Fulong Cement to Tangshan Jidong Cement to enable it to leave the northern market.

China Resources Cement has also been growing its co-processing capabilities in 2021. At the end of the year it reported 10 co-processing projects with a total capacity of 1.7Mt/yr. The projects, mostly based in Guangxi and Yunnan provinces, process municipal solid waste, urban sludge and industrial waste.