Displaying items by tag: Investment

France: The French cement association France Ciment has announced a new CO₂ emissions reduction target of 50% across the cement industry between 2021 and 2030. The new target for 2050 will be 'virtual carbon neutrality.' The Les Echos newspaper has reported that the commitments replace previous reduction targets of 24% by 2030 and 80% by 2050. France Ciment says that its members are planning estimated investments of Euro5bn towards achieving the goals before 2040. These investments will cover areas including the deployment of carbon capture. Existing public and private investments in the industry's on-going projects to reduce CO₂ emissions amount to Euro1.7bn - sufficient to eliminate 27% of emissions compared with the 2021 baseline.

France Ciment’s President Benoit Pillon noted the necessity of cement in construction, and called for 'decarbonisation as a whole: less clinker in cement, less cement in concrete and less concrete in construction.' He urged the implementation of policies to secure 'decarbonised and competitive electricity.'

Thailand: Siam Cement Group is among partners for property developer Central Pattana's planned raft of new sustainability investments worth US$289m. The Bangkok Post newspaper has reported that Central Pattana will implement initiatives with Siam Cement Group, alongside other partners, over the period up to the end of 2027. These will include new sustainability-linked financing arrangements and projects to reduce energy use.

Saudi Arabia: China-based Sinoma International Engineering has won an engineering, procurement and construction (EPC) contract to build Southern Province Cement's upcoming Jizan cement plant, in the province of the same name. YiCai Global News has reported that the plant will have a capacity of 1.83Mt/yr. Commissioning is scheduled to follow 27 months after the start of construction. Sinoma International Engineering's contract covers installation of the entire line, from limestone crushing to cement bagging. The value of the work is US$300m.

Fellow CNBM subsidiary Sinoma Overseas Development previously won a US$220m contract with Yamama Cement for transferal of its Riyadh cement plant's new Line 7 from its old plant to its new location.

India: Indian industrial companies plan to increase their capital expenditure (CAPEX) investments by 14% year-on-year in the current, 2024, financial year, the Financial Express newspaper has reported. UltraTech Cement says that it will more than double its CAPEX investments to US$1.55bn during the year (1 April 2023 - 31 March 2024). Adani Green Energy, the renewable electricity subsidiary of Ambuja Cements' parent company Adani Group, has the highest planned investments of any Indian industrial company. It also plans to more than double its CAPEX spending, to US$1.69bn in the 2024 financial year.

India: The government of Uttar Pradesh has awarded JK Cement US$4.15m as a concession for its construction of the 1.5Mt/yr Aligarh grinding plant. The Times of India newspaper has reported that the concession covers some of the producers' investments over a period between 1 April 2019 and 31 March 2022.

JK Cement has invested a total sum of US$145m in projects in Uttar Pradesh, including US$60.6m of it in the on-going construction of its 2.5Mt/yr Prayagraj grinding plant.

India: Dalmia Cement (Bharat) plans to invest US$560m following the signing of a memorandum of understanding (MoU) with the Assam government on the construction of a new cement plant in the state. The Economic Times newspaper has reported that the producer expects the project to generate a total of 2500 new jobs.

Managing director and chief executive officer Mahendra Singhi said “This year also marks the 10th anniversary of Dalmia Bharat’s manufacturing presence in Northeast India. We remain deeply committed to continuing to be a partner in the region’s economic progress." He continued "The Northeast region has showcased a very forward-leaning mindset, being one of the fastest adaptors of low-carbon blended cement. The penetration of Low Carbon Green Cement is in line with our vision of becoming carbon negative by 2040, and further intensifies our commitment towards the Grey to Green movement.”

India: The state government of Assam signed memoranda of understanding (MOUs) worth over US$974m on 9 May 2023. The MOUs include three new planned cement plant projects. Agreements have been signed with Calcom Cement India, Star Cement and Taj Cement Manufacturing.

The Economic Times newspaper has reported that the government said “There are another US$852 - 974m investment proposals in the pipeline. Investors are touring Upper and Lower Assam, scanning for locations for investment projects.”

Chile: Knauf Aquapanel has commissioned its new 7Mm²/yr Puente Alto cement board plant in Santiago. The company invested US$17m in the construction of the plant. The facility will supply its cement boards to the local market, as well as for export to Argentina, Brazil, Colombia, Ecuador, Honduras, Panama, Paraguay, Peru and Uruguay.

Kenya: Savannah Clinker, an associate company of Savannah Cement, has raised around US$480m to build a new integrated cement plant in Kitui county. It said it generated the funding through a privately placed debt arrangement with the bond set to be listed at regulated international exchange, according to the Business Daily newspaper.

Benson Ndeta, chairman of Savannah Cement Group, said “I am extremely proud to have the support of a major international investor who shares our vision and beliefs in what is required to deliver the growth and development of our key infrastructure and affordable housing.”

It was announced in December 2022 that China-based Sinoma International Engineering had been contracted to build the 2.92Mt/yr plant with a completion date planned for late 2024.

UK: Legal & General Capital, an alternative investment arm of financial services company Legal & General, has invested around US$15.5m in Cambridge Electric Cement (CEC) and other companies as part of its strategy to decarbonise the residential sector. It is also investing in Hometree and SunRoof, as well as increasing its existing investment in Sero Technologies.

CEC is developing process to create net zero-CO₂ cement product using recycled concrete paste. It launched a two-year industrial trial of its Cement 2 Zero project in February 2023.