Displaying items by tag: capital expenditure

Thailand: Siam Cement Group (SCG) recorded consolidated sales of US$17.4bn in 2022, up by 7% year-on-year from 2021 levels. Its net profit was US$652m.

During 2023, SCG plans to invest US$1.22 - 1.53bn in capital expenditure.

Tunisia: Carthage Cement recorded a turnover of US$119m during 2022, up by 13% year-on-year from US$105m. The producer invested US$8.17m in capital expenditure projects during the year, up by 18% from US$6.95m. Africa Manager News has reported that Carthage Cement's debt fell by 8% year-on-year to US$123m at the end of 2022.

India: UltraTech Cement has projected six-month cement capacity growth of 8.2% to 131Mt/yr by 31 March 2023, the end of the 2023 financial year. At the end of the first half of the 2023 financial year on 30 September 2022, its capacity was 121Mt/yr. In the third quarter of the 2023 financial year, UltraTech Cement expects to commence commercial operations at its upcoming 3.5Mt/yr Pali, Rajasthan, cement plant and upgraded Dhar, Madhya Pradesh, cement plant, to which it is adding 4.2Mt/yr in new capacity. The remaining new capacity consists of smaller capital expenditure investments in various sites across India. UltraTech Cement's chief financial officer Atul Daga forecast that the producer will invest a total of US$731 - 853m in capacity expenditure throughout the 2023 financial year.

The Business Standard newspaper has reported that UltraTech Cement expects to further increase its cement production capacity by 22% over the three years up to the 2026 financial year, to reach 160Mt/yr.

India: Ramco Cements plans to inaugurate its upcoming Nandyal cement plant in Kalvatala, Andhra Pradesh, on 28 September 2022. The Sakshi Post newspaper has reported that the plant will have a cement capacity of 2Mt/yr. Ramco Cements’ planned total capital expenditure (CAPEX) investments during the 2023 and 2024 financial years (1 April 2022 – 31 March 2024) are expected to reach US$154 – 167m.

Two West Bengali welders fell to their deaths at the site of the upcoming Nandyal cement plant on 25 September. The welders had been working on a conveyor system when it snapped. The Times of India newspaper has reported that both workers died immediately. Police have informed their relatives and are conducting post-mortems.

India: Ramco Cements reported consolidated sales of US$225m in the first quarter of its 2023 financial year, up by 44% year-on-year. The producer recorded ‘weak’ cement prices in the quarter, during which time fuel costs rose ‘sharply.’ Its earnings before interest, taxation, depreciation and amortisation (EBITDA) fell by 17% to US$39.2m, while its net profit fell by 34% to US$14.4m.

Ramco Cements’ capital expenditure during the quarter totalled US$61.3m.

Argentina: Holcim Argentina says that it will invest US$40m in capital expenditure in 2022. It plans to invest US$15m in its cement and concrete operations and US$15m in subsidiary Geocycle's three waste management plants, which supply alternative fuel for its cement production. Of the remainder, US$5m will go towards the construction of a new dry mortars plant in Córdoba, which the company plans to inaugurate in December 2022.

India: Dalmia Bharat Refractories plans to launch its cement refractory products in new export markets. Chemical Industry Digest has reported that the company aims to achieve a turnover of US$191m in the 2023 financial year, and to launch a 3 – 4 year US$38.1 capital expenditure investment package. The supplier currently exports some refractories to Canada, Kenya, Morocco, Nigeria, Spain and West Asia.

Managing director and CEO Sameer Nagpal said “We have started some trials in Germany, before we turn regular suppliers and tap deeper into the export market.” Nagpal said that the company would also target other markets in Asia, Africa and Europe. He concluded “We are looking to gain a greater share of the customer’s wallet in these markets and in India.”

India: Ramco Cements plans to make capital expenditure (CAPEX) investments of US$154 – 167m in the 2023 and 2024 financial years. At the beginning of the 2023 financial year on 1 April 2022, Ramco Cements’ net debt was US$489m. It plans to pay back US$64.3m during the current financial year, with the ultimate aim of becoming net debt-free before the 2026 financial year.

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.

India: Aditya Birla subsidiary UltraTech Cement said that it will spend US$200m in capital expenditure (CAPEX) during the 2021 financial year, which ends on 31 March 2021. The plans consist of a capacity expansion to 118Mt/yr from 115Mt/yr, including the completion of the 4.0Mt/yr Bara grinding plant in Uttar Pradesh and 1.2Mt/yr-worth of brownfield projects in Bihar and West Bengal. Solar and wind power capacity will increase to 350MW from 95MW, while waste heat recovery (WHR) capacity will increase to 185MW from 118MW.

Chair Kumar Birla said, “While 2021 will be a challenging year, Birla remains confident that the economy will revert to the 6 - 8% growth trajectory in 2022.”