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Displaying items by tag: funding

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EU awards Euro228m towards CCUS upgrade at Lafarge Poland’s Kujawy cement plant

25 January 2023

Poland: The European Union (EU) Innovation Fund has awarded Euro228m towards the Go4ECOPlanet carbon capture and storage project at Lafarge Poland’s Kujawy cement plant. The project has a total cost of Euro380m.

It will use Air Liquide's Cryocap FG technology to capture the CO2 at the plant. The CO2 will be liquefied and transported by rail to a port and then injected into a depleted oil field for permanent storage. The transport and storage of CO2 once it has left the cement plant will be accomplished by cooperation with other partners with knowledge and experience in the liquefaction, transport and storage of gases. The goal is to create a complete carbon capture and storage industrial and logistics chain. Commissioning of the cement plant upgrade is planned for 2027.

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EU grants Holcim Deutschland Euro110m for new kiln for carbon capture project

23 January 2023

Germany: The Carbon2Business carbon capture project at Holcim Deutschland's Lägerdorf cement plant has received Euro110m in funding from the EU. Holcim Deutschland plans to use the funds to install a new oxyfuel kiln with downstream compression and a CO2 cleaning unit at the plant in Schleswig-Holstein. The producer expects to commission the upgraded carbon neutral cement plant in 2029.

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Devnya Cement and Petroceltic's ANRAV carbon capture project wins EU funding

20 January 2023

Bulgaria: The European Union (EU) Innovation Fund has awarded a Euro190m grant to Devnya Cement and oil and gas producer Petroceltic for their 800,000t/yr ANRAV carbon capture, transportation and storage project. Devnya Cement's parent company Heidelberg Materials says that the partners expect to commission the full-chain project in 2028.

Heidelberg Materials Northern and Eastern Europe-Central Asia board member Ernest Jelito said "Devnya Cement's Devnya plant will be the first carbon-neutral cement plant in the country and the region. ANRAV will also enable other industrial players to join the carbon chain in the future and share storage capacity. In this way, we want to not only decarbonise our company in Bulgaria, but also provide opportunities for the whole region."

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Lhoist and others secure Euro4.5m in EU funding for carbon capture and utilisation project

19 January 2023

Belgium: The EU Innovation Fund has awarded Euro4.5m to a consortium consisting of Lhoist, gas provider Fluxys Belgium, concrete products company Prefer and carbonation technology developer Orbix. The collaborators are working on a project called CO2ncrEAT. The project will carbonate steel sector by-products with captured CO2 from Lhoist's Hermalle lime plant to produce alternative building materials. CO2ncrEAT will be the first project to employ Orbix's innovative technique for the purpose. Fluxys Belgium's pipeline technology will convey the Hermalle plant's emissions over a distance of 2km to a Prefer concrete blocks plant.

The consortium said that it will use 12,000t/yr of CO2 to produce 100,000t/yr of reduced-CO2 concrete blocks. The use of alternative raw materials in the blocks will further reduce their carbon footprint by 8000t/yr.

Lhoist Western Europe managing director Vincent Deleers said “The project fits perfectly with our willingness to actively develop CO2 capture and sequestration technologies that are essential to the sustainability of our industry. We are delighted that our work on innovative solutions has been recognised by the European Innovation Fund and we look forward to working with our partners to bring CO2ncrEAT to the next level.”

Published in Global Cement News
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UkrainInvest helps to establish grinding plants in Ukraine

17 January 2023

Ukraine: Ukrainian foreign investors’ fund UkrainInvest contributed US$20m towards the establishment of new grinding plants in Ukraine in 2022. Ukraine Business News has reported that the fund received 126,000 investments in 2022, up by a factor of six year-on-year. It added 11 projects worth US$2bn to its portfolio throughout the year, during which Russia launched its on-going invasion of Ukraine.

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China Tianrui Group Cement settles US$30m loan

10 January 2023

China: China Tianrui Group Cement settled a term loan facility on 9 January 2023. Reuters has reported the value of the facility as US$30m.

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National Transmission and Despatch Company to build new grid station for Chakwal cement plants

19 December 2022

Pakistan: National Transmission and Despatch Company (NTDC) has secured a US$46.6m loan from German state-owned bank KfW for construction of a new 500kV grid station in Chakwal, Punjab. The German government loaned NTDC a further US$2.55m for power capacity expansions. The investments will go towards increasing the availability of electricity in Chakwal, primarily for the benefit of the district's multiple cement plants.

Bestway Cement, DG Khan Cement and Gharibwal cement operate four cement plants with a total capacity of 8.5Mt/yr in Chakwal.

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CRH launches CRH Ventures

16 December 2022

Ireland: CRH has announced the launch of its new innovation investments company CRH Ventures. The new subsidiary has funds of US$250m and will focus on the technologies that address the construction sector's core challenges. The group said that CRH Ventures' investment decisions will assess potential for decarbonisation, automation and the development of advanced sustainable building products, among other factors.

CRH's CEO Albert Manifold said "The launch of CRH Ventures demonstrates our continued commitment to investing in new technologies that will shape the built environment of tomorrow. CRH Ventures will serve as a valuable partner to start-ups and entrepreneurs, which will benefit from the technical capabilities, knowledge and expertise of a global industry leader, to pilot and scale new technologies and innovations that will enable safer, smarter and more sustainable construction.”

Published in Global Cement News
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Sanghi Industries secures financing from Kotak Investment Advisors

06 December 2022

India: Sanghi Industries has borrowed US$60.6m from Kotak Investment Advisors. The cement producer secured the funds in the form of non-convertible debentures (NCDs).

Sanghi Industries produces its Sanghi Cement brand cement in Gujarat.

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Grasim Industries raises US$123m through non-convertible debentures

01 December 2022

India: Grasim Industries has informed investors that it has raised US$123m through allotment of 7.6% rated, listed, unsecured redeemable non-convertible debentures (NCDs).

CRISIL and ICRA have rated the NCDs as AAA (stable).

Published in Global Cement News
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