Displaying items by tag: Investment
France: Lafarge France has ignited the new kiln at its Martres-Tolosane cement plant following a Euro120m upgrade. Local press has reported that the upgrade replaced the plant’s existing kilns and preheater tower with entirely new equipment. The new kiln has tripled the plant’s capacity, to 2.1Mt/yr from 0.7Mt/yr. Meanwhile, the new preheater tower will help to reduce the plant’s electricity consumption by over 20%. As a result of the upgrade, the Martres-Tolosane plant can now support an alternative fuels (AF) substitution rate of 60%, compared to 20% beforehand. Lafarge France aims to carry out further work to reach 85% AF substitution at the plant by 2027. Other planned projects include the installation of a carbon capture system.
Lafarge France chief executive officer François Petry said “We are going to create a research and innovation centre here dedicated to the capture of CO2, with the ambition of ultimately making the Martres-Tolosane plant net zero carbon.”
CirCap-led consortium invests in Nanogence
19 October 2023Switzerland: Reduced-CO2 cement catalyst developer Nanogence has secured an undisclosed sum from a consortium of investors led by investment fund CirCap. Nanogence’s catalyst reduces the CO2 emissions of cement production by 40%, without changing production processes. Tech EU News has reported that the catalyst is capable of increasing cement’s strength and durability compared with that of ordinary Portland cement (OPC) produced without it. Prior to the latest financial development, the company had raised US$2.7m-worth of funding.
CEO Abhishek Kumar said “We are excited to receive the support from incoming renowned investors in this essential journey to accelerate the transition towards a low carbon built world. With growing demand worldwide, we need to align with like-minded strong backers for our growth phase.”
Zlatna Panega Cement to upgrade Zlatnopanegki cement plant
16 October 2023Bulgaria: Titan Cement subsidiary Zlatna Panega Cement plans to invest Euro11m in sustainability-enhancing upgrades to its Zlatnopanegki cement plant in Lovech Province. The work centres around a Euro7m alternative fuels (AF) upgrade, to raise the plant’s AF substitution rate to 70% from 50% in 2022. Besides this, the producer will also invest Euro4m in the construction of a solar power plant at the facility. The solar power plant is scheduled for commissioning in March 2024. General manager Adamantios Frantzis said that the plant will subsequently move on to its ‘next big project,’ consisting of a Euro35 – 50m upgrade, in 2026 – 2028.
Zlatna Panega Cement invested Euro5.7m in capital expenditure throughout 2022, more than double its investments of Euro2.6m in 2021. It is committed to interim CO2 reduction targets of 5000t/yr (Scope 1) and 3000t/yr (Scope 2 and 3), and net zero CO2 emissions by 2050.
India: Dalmia Bharat has announced a planned investment of US$10.9m in a grinding unit expansion at its 1Mt/yr Banjari cement plant in Bihar. The expansion will raise the plant’s capacity by 500,000t/yr and conclude before 31 March 2025.
Górażdże Cement to invest Euro261m in carbon capture and waste concrete recycling at Górażdże cement plant
05 October 2023Poland: Górażdże Cement has announced an investment of Euro261m in planned sustainability upgrades to its Górażdże cement plant in Opole Voivodeship, the Polish News Bulletin newspaper has reported. The Heidelberg Materials subsidiary plans to build a carbon capture installation, a green energy source and a facility to recycle construction and demolition waste for use in its cement production.
China Energy International Group Samarkand Cement installs kiln at upcoming Samarkand cement plant
02 October 2023Uzbekistan: China Energy International Group Samarkand Cement has installed a 3Mt/yr kiln at its upcoming Samarkand cement plant. Local press has reported that the kiln is the largest at a cement plant in Uzbekistan. The Samarkand plant will cost US$313m to build. Parent company China Energy and the government of Uzbekistan previously indicated that construction would conclude in 2024. The plant will produce ordinary Portland cement (OPC) of the local designations M-400 and M-500. It will use coal as fuel in its cement production and directly employ 500 people.
Honduras: Cementos Argos Honduras has commissioned a 1.6GWh/yr solar power plant at its Choloma grinding plant in Río Blanquito. Grupo Argos’ energy subsidiary Celsia built the plant, which consists of 2160 photovoltaic modules. The La República newspaper has reported that the installation cost US$1.2m. It will supply 25% of the Choloma grinding plant’s energy consumption, and reduce its total CO2 emissions by 23%.
Cementos Argos Honduras CEO Luis Eduardo Tovar said "This partnership marks a significant milestone in our efforts to address climate change and revitalise our ecosystems, while generating significant impact in communities with new employment and investment opportunities.”
Cement producers of the Caribbean
20 September 2023The core of the Caribbean cement industry consists of the Dominican Republic (with 5.9Mt/yr in integrated capacity), Cuba (4.7Mt/yr) and Jamaica (3.5Mt/yr). Haiti and Trinidad & Tobago also command small, single integrated plants, while there are numerous grinding plants and cement terminals along the region’s extensive coastlines. The industry has been the subject of new commercial and capital expenditure-related announcements in the past fortnight. Regarding the Caribbean’s cement producers, these developments seem to lack a single clear direction.
Caribbean market leader Cemex revealed that it was considering selling up in the region’s largest market, the Dominican Republic, on 1 September 2023. Bloomberg cited unnamed sources stating that the Mexico-based cement giant hired financial services JPMorgan Chase to explore the possible divestment of local subsidiary Cemex Dominicana. Exactly one year had passed since Cemex completed its sale of Cemex Costa Rica and Cemex El Salvador to Guatemala-based Cementos Progreso for US$329m. Sources clued in on the latest development reportedly expect Cemex Dominicana to command a selling price three times greater than the Central American divestments combined.
Cemex has discussed its scattered disposal of global assets since 2019 as a strategic realignment towards its main markets, in particular those in North America and Europe. On this understanding, the Caribbean straddles an invisible line between Cemex’s strategic core in North America and Central America on its periphery.
Just to the north of the line lies Jamaica. There, Cemex subsidiary Caribbean Cement will expand its Rockfort cement plant by 30% to 1.3Mt/yr through a US$40m upgrade, scheduled for completion in early 2025. Late last week, Caribbean Cement told investors that the upgrade will equip the plant with new equipment, including a new dosing system. The producer expects this to help the Rockfort plant to further increase its alternative fuel (AF) substitution rate. It co-processed 5.6% AF in its kiln during the first half of 2023, more than double its first-half 2022 substitution rate of 2.7%. Caribbean Cement began exporting cement to Turks and Caicos on 16 September 2023, and plans to increase its shipments there and elsewhere. Managing director Yago Castro reassured Jamaicans that Caribbean Cement would also continue to help meet domestic demand.
Currently, Caribbean Cement and fellow Jamaican producer Cement Jamaica compete in the domestic market against imports, including some cement from Dominican Republic-based Domicem. This enters the country via Buying House Cement’s Montego Bay terminal. Montego Bay Cold Storage, an affiliate of Buying House Cement, shared plans for a second, US$8m cement terminal in the city earlier in 2023. The facility is expected to help meet growing demand from residential and hospitality sector construction.
More new production capacity is soon to come online in the form of a 1.23Mt/yr grinding plant in the Dominican Republic. Cemento PANAM will own and operate the plant, while Germany-based Gebr. Pfeiffer will supply a 3750 C-4 vertical roller mill via engineering, procurement and construction contractor CBMI Construction.
In a market where the nearest cement exporter is only a short sail over the horizon, producers have to compete fiercely for their market shares, even at home. Disputes over Caribbean Community member states’ rights to protect domestic cement production have gone as high as the Caribbean Court of Justice. It ended Barbados-based Rock Hard Cement’s hopes of resuming exports to Trinidad & Tobago last year.
The Caribbean’s cement producers will be acutely aware of Cementos Argos’ planned expansion of its north-facing Cartagena, Colombia, cement export facility, hot on the heels of a previous, US$42m expansion. The South American giant says that it is targeting the US, where it anticipates an upcoming construction boom. Caribbean countries present other possible markets for producers like Cementos Argos, yet their cement industries might equally emulate any successes it enjoys in the US. Like Argos in Colombia, Jamaica’s Caribbean Cement is part of a group with an existing presence in the US. Its on-going investments in the Rockfort plant signal a readiness to catch the trade winds rapidly picking up in the Caribbean.
Holcim invests in Neustark
20 September 2023Switzerland: Holcim has invested in CO2 mineralisation technology developer Neustark. Neustark aims to remove 1Mt of atmospheric CO2 by 2030 and sequester it in recycled construction and demolition waste. The company’s technology achieved Gold Standard certification as a method of CO2 removal in March 2022. Holcim says that its investment advances its group commitment to putting clean technologies to work towards achieving net zero.
Holcim’s Europe regional head Miljan Gutovic said "At Holcim, we are working to decarbonise building for a net zero future, and Neustark's technology helps us reach this goal. After the successful demonstration of Neustark's solution in Switzerland, we are ready to scale up this carbon removal technology globally."
JK Lakshmi Cement to acquire 21% stake in Amplus Helios
19 September 2023India: JK Lakshmi Cement has concluded a deal to acquire a 21% stake in solar power plant engineering company Amplus Helios. Amplus Helios was founded as a special purpose vehicle for the construction of a 50MW captive solar power plant at JK Lakshmi Cement’s 1.7Mt/yr Durg cement plant in Chhattisgarh. The Free Press Journal has reported that the solar power plant will cost US$26m.