Displaying items by tag: Krychawtsementnashyfer

Belarus: Despite revenue increases for two of its three major cement companies, the cement industry in Belarus recorded net losses in 2023. According to Business World Magazine Ukraine, Krychaucementnashyfer saw a 9.3% rise compared to the previous year, while Krasnaselskstroymateryjaly experienced a 5.6% year-on-year rise in revenue. Conversely, Belarusian Cement Plant's revenue declined by 2.9%. Overall, the sector's losses totalled nearly US$64.2m, representing a year-on-year increase of 50%.

Krychaucementnashyfer's losses escalated nearly fourfold to US$36.9m, while Krasnaselskstroymateryjaly's losses doubled to US$16.9m. However, Belarusian Cement Plant managed to reduce its net loss by 16%, resulting in a loss of US$10.5m.

Belarus: President Alyaksandr Lukashenka has issued an edict supporting loan deferments for the country’s three major cement producers. The total amount includes loans totalling about US$550m that were provided by China’s Eximbank in 2008 – 2009 for upgrades to the company’s plants, according to the Belapan news agency. The loans were repaid to the Chinese bank by the Belarusian government in the period from 2015 to 2019.

Under the edict, Belarusian Cement Plant should repay its debt to the government in the period from 2029 to 2038, Krasnaselskbudmateryyaly’s debt should be repaid in 2030 - 2037 and Krychawtsementnashyfer’s debt should be repaid in 2038 - 2049. The edict also sets out a repayment schedule for interest on the loans with a total of US$370m to the mid-2020s.

In addition, the energy ministry has been ordered to grant the cement companies a deferment until the end of 2019, followed by a repayment plan to 2023 for late natural gas bills.