Global Cement
Online condition monitoring experts for proactive and predictive maintenance - DALOG
  • Home
  • News
  • Conferences
  • Magazine
  • Directory
  • Reports
  • Knowledge Base
  • Live
  • Services
  • Login
  • Advertise
  • Jobs
  • Privacy & Cookie Policy
  • About
  • Members
  • Register
  • Contact
News Loan

Displaying items by tag: Loan

Subscribe to this RSS feed

Sumitomo Osaka Cement confirms place in Development Bank of Japan sustainable loan system

02 February 2021

Japan: Sumitomo Osaka Cement has been declared eligible for the Development Bank of Japan’s (DBJ) Environmental Rating loan program for the second time. The scheme offers preferential interest rates to companies scoring highly in environmental management based on the bank’s screening system. The cement producer says it obtained the ranking through its promotion of energy saving, waste recycling and greenhouse emission reduction targets for 2030 and 2050 in its business strategy.

Published in Global Cement News
Read more...

Bangladesh Cement Manufacturers Association lobbies government bank to extend loan window

05 January 2021

Bangladesh: The Bangladesh Cement Manufacturers Association (BCMA) has called on the state-owned Bangladesh Bank (BB) to extend an ongoing moratorium period on the payment of loan instalments by another six months to mid-2021 in response to the negative economic effects of the coronavirus pandemic. The original loan window was schedule to end on 31 December 2020, according to the Dhaka Tribune newspaper. The association has also called for a fixed lending rate for non-government lenders due to rising costs. Local cement sales fell by 13% year-on-year in the five months from January to May 2020 due to a coronavirus-related lockdown that ended in late May 2020.

Published in Global Cement News
Read more...

Duqm Cement Factory secures funding for Duqm grinding plant

16 December 2020

Oman: Raysut Cement subsidiary Duqm Cement Factory has signed a deal with Ahlibank for a US$21m loan for the construction of its Duqm grinding plant in Al Wusta Governotate. The grinding plant will produce ordinary Portland cement (OPC), Portland limestone cement (PLC) and ground granulated blast furnace slag (GGBFS), according to the Times of Oman newspaper. Construction of the plant started in November 2020.

Raysut Cement chief executive officer (CEO) Joey Ghose said, “We would like to extend our sincere gratitude and appreciation to Ahlibank for financing the Construction of Duqm Cement Factory’s new grinding plant in Duqm Industrial Estate. Through strategic partnerships with the public and private sectors, the bank has ensured the all-round development of Oman’s diverse sectors. The new cement plant will spur economic activities in around the Duqm Industrial Estate and thereby bring more and more businesses to the region.”

Published in Global Cement News
Read more...

Bangladesh Securities and Exchange Commission investigates Aramit Cement’s interest-free loan to sister company

16 November 2020

Bangladesh: The Bangladesh Securities and Exchange Commission (BSEC) has written to Aramit Cement to seek an explanation for the company’s transfer of around US$9m as an interest-free loan to a sister company. The Dhaka Tribune newspaper says that the cement producer reported a loss in the financial year to 30 June 2020 and issued no dividend to its shareholders. However, had the company charged 10% interest on the loan, it could enabled the payment of a 20% cash dividend to shareholders. BSEC subsequently sought information on loans to associated companies.

Company secretary Syed Kamruzzaman said, “The board of directors would explain the issue to the BSEC soon.” The BSEC has ordered a refund of the loan along with interest by the end of November 2020.

Published in Global Cement News
Read more...

East Africa Portland Cement Company defaults on loan

26 October 2020

Kenya: East Africa Portland Cement Company has defaulted on a long-term loan from KCB Bank. The bank has demanded immediate repayment of the full loan, according to the Business Day newspaper. The cement producer’s current liabilities grew by 70% year-on-year to US$126m in the financial year to June 2019. In a report made to parliament Auditor-General Nancy Gathungu said, “This movement was largely due to the transfer of long-term loans to current liabilities on account of default on existing loan covenants.”

Published in Global Cement News
Read more...

Cemex secures loan extension

14 October 2020

Mexico: Cemex says that it has agreed upon an amendment to its facilities agreement to extend US$1.1bn of term loan maturities to 2025 from 2022, and US$1.1bn of commitments under the revolving credit facility to 2023 from 2022. It says that the sustainability criteria incorporated into the interest rates of the facilities agreement, now worth US$3.2bn, make it ‘one of the largest sustainability-linked loans in the world.’ The company adds that it will prepay US$530m to institutions participating in the extension, corresponding to the July 2021 amortisation under the facilities agreement, and extending its debt maturity profile through to July 2023.

The group has also decided to redenominate its debt away from the US dollar. US$313m of exposure under the term loans that are part of the facilities agreement will convert to Mexican Pesos and US$82m will convert to Euros.

Published in Global Cement News
Read more...

Cimenterie de Côte Ouest-Africaine announces plans for 2.5Mt/yr cement plant in Togo

30 September 2020

Togo: Cimenterie de Côte Ouest-Africaine (CimCo) says that it has hired Germany-based Intercem Engineering and Gebr. Pfeiffer for the supply and installation of a 2.5Mt/yr-capacity integrated cement plant in Lomé, Maritime Region. Togo First News has reported that the company has secured a US$35.8m loan from Banque Ouest Africaine de Développement (BOAD) towards construction of the US$179m plant.

CimCo said, “The targeted goal is to contribute to the satisfaction of cement demand in Togo and the region by taking advantage of the geographic location of the port of Lomé, as well as to contribute to the country's economic growth by boosting the competitiveness of the industrial sector along with performances of the infrastructure sector.”

Published in Global Cement News
Read more...

Bashundhara Group plans 4Mt/yr cement plant in eastern Bangladesh

23 September 2020

Bangladesh: Bashundhara Group has taken a loan of US$82.0, which it says will go towards the construction of a 4.0Mt/yr cement plant in eastern Bangladesh for a total investment of US$117m. The Daily Star newspaper has reported that the new plant will produce cement primarily for export to northeast India. Bashundhara Group’s two cement plants currently have the capacity to produce 5.1Mt/yr of its King Brand cement.

Bank Asia is the lead arranger for the syndicated loan, which it will provide along with Dhaka Bank, First Security Islami Bank, Pubali Bank, Social Islami Bank and United Commercial Bank. Full repayment is due in 2027.

Published in Global Cement News
Read more...

PPC updates on finance arrangements

21 September 2020

South Africa: PPC says that it has extended existing short-term banking facilities with its two primary South African lenders until at least September 2021 and deferred scheduled interest and capital repayments on long-term facilities until March 2021. The company says that it will “enhance its security position through a security pool arrangement” and “reduce the levels of gearing in South Africa through a combination of a capital raise and asset sales.” It added, “Any capital raise is conditional on the implementation of the other project steps.”

PPC also signed a new working capital facility with its third South African lender, which it says “provides on-going liquidity until December 2021.”

Published in Global Cement News
Read more...

China Tianrui Group Cement takes out US$14.4m loan

14 August 2020

China: China Tianrui Group Cement says that it has secured a loan worth US$14.4m. Reuters has reported that a Chinese bank granted the loan, which will support capital expenditure projects in the current fiscal year.

Published in Global Cement News
Read more...
  • Start
  • Prev
  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • Next
  • End
Page 1 of 8
Loesche - Innovative Engineering
“System
Our high efficiency separator for every need - Christian Pfeiffer
“Flexible
We Move Industries - Heko Group - Conveyor Suppliers
Acquisition Cemex China coronavirus Dangote Cement Export France Germany Government grinding plant HeidelbergCement Holcim Import India Lafarge LafargeHolcim Legal Mexico Nigeria Order Pakistan Philippines Plant Production Results Russia Sales UK Upgrade US
« March 2021 »
Mon Tue Wed Thu Fri Sat Sun
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31        



Sign up for FREE to Global Cement Weekly
Global Cement LinkedIn
Global Cement Facebook
Global Cement Twitter
  • Home
  • News
  • Conferences
  • Magazine
  • Directory
  • Reports
  • Knowledge Base
  • Live
  • Services
  • Login
  • Advertise
  • Jobs
  • Privacy & Cookie Policy
  • About
  • Members
  • Register
  • Contact
  • Conferences >>
  • Global Ash
  • Global CemBoards
  • Global CemFuels
  • Global CemProcess
  • Global FutureCem
  • Global Gypsum
  • Global GypSupply
  • Global Insulation
  • Global Slag
  • Global Synthetic Gypsum
  • Global Well Cem
  • Magazine >>
  • Latest issue
  • Articles
  • Editorial programme
  • Contributors
  • Link
  • Awards
  • Back issues
  • Subscribe
  • Photography
  • Register for free copies
  • The Last Word
  • Websites >>
  • Global Gypsum
  • Global Slag
  • Global CemFuels
  • Global Insulation
  • Pro Global Media
  • Social >>
  • LinkedIn
  • Facebook
  • Twitter

© 2021 Pro Global Media Ltd. All rights reserved.