Displaying items by tag: Investment

India: Dalmia Bharat has announced a capacity target of 120Mt/yr by the end of 2031. The Business Standard newspaper has reported that the producer will make total investments of US$2.31bn in its on-going growth drive. The sum includes US$723m invested in the acquisition of Jaypee Group's 9.4Mt/yr cement business in December 2022. Dalmia Bharat's eventual investments in erecting new capacity are estimated at US$1.09bn, US$485m (44%) of it in its North Indian cement business.

CEO Puneet Dalmia said “We are executing the largest capital expenditure in our history.” Regarding the Jaypee Group deal, Dalmia said "The acquisition will give us access to Central India’s and North India’s markets and we would look for more acquisition opportunities in the mid segment. We expect the industry to consolidate further in the coming years. India will invest US$1Tn in infrastructure in the next decade, and that will create a sizeable demand growth for cement.”

US: Heidelberg Materials North America will inaugurate its new 2.4Mt/yr Mitchell cement plant in Indiana on 13 June 2023. The plant cost US$600m to build and is Heidelberg Materials' 'most technologically advanced and sustainable' cement plant, according to the company. It includes a 32,000t/yr cement terminal, served by a newly renovated rail depot. Heidelberg Materials North America has commissioned 1000 new rail cars to assist in efficient distribution of cement produced at the Mitchell plant.

Egypt: Heidelberg Materials subsidiary Suez Cement has invested US$16m in upgrading its operations towards increased alternative fuel (AF) use since 2010. The producer uses AF in the burners and kilns of all three of its cement plants, at Helwan, Kattameya and Suez. Meanwhile, Suez Cement has invested US$60m in dust control measures over the same period. Other on-going investments include US$25m in the construction of a waste heat recovery (WHR) plant at the Helwan cement plant. The company is committed to reaching a 24% reduction in its CO₂ emissions between 2019 and 2030.

Technical director Omar Khorshid said “We are committed to pursue initiatives to broaden our range of innovative and eco-friendly building solutions, advance operational efficiency through digitalisation and strengthen customer engagement for better business results and more positive impact."

India: Adani Group plans to grow ACC and Ambuja Cements' capacity to 140Mt/yr by 2028 under a joint expansion strategy. The Hindu newspaper has reported that new strategy includes capital expenditure with a value of US$5.58bn and new acquisitions. Investments will reportedly be split equally between the two subsidiaries. After completion of the current growth plan, the cement producers will 'pause for a while' prior to any subsequent expansion phase.

Adani Group said that it is proceeding with an operational merger of ACC and Ambuja Cements, without merging their distinct brands. The priority of the merger will be to increase efficiency in supply chains and logistics operations.

Sweden: Heidelberg Materials Sweden has called for swifter action to be taken by the government on a planned upgrade to the mains electricity supply to the island of Gotland. The building materials company is planning to build a full-scale carbon capture and sequestration (CCS) unit at its integrated Slite cement plant on the island by 2030. However, the newly approved plans to build two new electrical transmission cables to Gotland are currently scheduled for completion in 2031. The cement plant is expected to require annual electricity requirements of up to 1.5TWh with a power requirement of up to 250MW when the CCS unit is completed.

The cement producer has welcomed the government’s upgrade plans so far but has impressed the urgency of its timeline to build a CCS unit at the Slite plant. It says it is currently considering investing around Euro850m on the project. If completed the CCS unit is expected to capture up to 1.8Mt/yr of CO₂. The company said that this corresponds to approximately 3% of Sweden's emissions annually.

US: Heidelberg Materials North America has inaugurated the Port Canaveral slag cement plant and terminal in Florida, following an expansion. MENAFN News has reported that the producer invested US$24m in the installation of a new roller press at the facility.

Heidelberg Materials North America said "Heidelberg Materials' investment in the Port Canaveral slag cement facility is reflective of our commitment to supporting sustainable and resilient construction projects in the state of Florida and throughout the country. It is also aligned with our goal to significantly reduce our carbon footprint by 2030 and another milestone in our overall strategy to grow our portfolio of more sustainable products, technologies and customer-focused solutions on the path to Net Zero."

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.