Displaying items by tag: funding

India: UltraTech Cement has received US$94.6m-worth in commitments on a planned sale of its commercial papers. Reuters News has reported that the papers will reach maturity in November 2022.

China: Anhui Conch Cement and Xinjiang Tianshan Cement plan to launch a joint venture. Reuters News has reported that the companies will inject the joint venture with registered capital of US$297m.

India: Kesoram Industries plans to raise fund through high-cost fixed deposits at an annual coupon rate of 12%. The Business Standard newspaper has reported that the producer will use the funds to support its 10.8Mt/yr cement plant network’s working capital requirements.

Germany: Holcim Deutschland announced a planned upgrade to its Lägerdorf cement plant’s kiln on 14 July 2022. The producer will install a second generation oxyfuel kiln, which uses an air separation unit to supply oxygen directly, emitting CO₂-rich flue gas. A new carbon capture system will supply captured CO₂ to a synthetic hydrocarbons plant, which will produce methanol for other industrial applications. The upgrade will result in the capture of 1.2Mt/yr
of CO₂ emissions and make Lägerdorf one of the world’s first carbon neutral cement plants, according to Holcim Deutschland.

The project, called Carbon2Business, was among four cement plant projects and 13 other EU-wide projects to win a share of a US$1.81bn EU Innovation Fund funding pot. CEO Thorsten Hahn acknowledged that the awarding of funds was ‘good news for Holcim and all partners working with us to decarbonise cement.’ He said “Climate change means cement change.”

Bulgaria/Poland: The EU Innovation Fund has awarded funding to Devnya Cement’s ANRAV carbon capture, utilisation and storage (CCUS) project in Bulgaria and Lafarge Polska’s Go4ECOPlanet CCUS project in Poland.

ANRAV is a full-chain CCUS project connecting Devnya Cement’s Devnya cement plant in Varna Province over 30km to the Black Sea for storage. Go4ECOPlanet applies a similar model to the capture and storage of CO₂ from Lafarge Polska’s Kujawy cement plant offshore in the North Sea. The Kujawy cement plant is situated 200km inland in Kuyavian-Pomeranian Voivodeship. The plan is part of Lafarge Polska’s strategy to realise carbon neutrality at the Kujawy cement plant by 2027.

Regarding the ANRAV project, Mihail Polendakov, Bulgaria, Greece and Albania managing director at Devnya Cement’s parent company HeidelbergCement said “Our vision in the ANRAV consortium is to realise an economically viable CCUS cluster for Bulgaria and the neighbouring regions.” He continued “Subject to regulatory and permissions aspects, it could start operation as early as 2028, with a capture capacity of 800,000t/yr of CO₂.

Australia: Hallett Group plans to establish a slag cement grinding plant in Port Augusta, South Australia. Magnet News has reported the cost of the project as US$83.9m, towards which the producer has received US$13.4m in government funding. The plant will produce cement using South Australian ground granulated blast furnace slag (GGBFS) from Nyrstar’s Port Pirie and Liberty Primary Steel’s Whyalla steel refineries and fly ash from the site of the former Port Augusta power plant. Its operations will be 100% renewably powered. An accompanying new distribution facility at Port Adelaide will ship the cement to markets. The project will create 50 new jobs.

When the Port Augusta grinding plant becomes operational in 2023, its products will reduce regional CO₂ emissions by 300,000t/yr, subsequently rising to 1Mt/yr, according to the company’s expansion plans.

Hallett Group chief executive officer Kane Salisbury said "We're talking about 1% of the entire country's 2030 [CO₂ reduction] commitment, delivered through this project." Salisbury added "We're looking at turning South Australia into a global leader in manufacturing green cement."

UK: Aggregate Industries and Coomtech have partnered to develop low-energy kinetic drying technology for pulverised fuel ash (PFA) from power plant. The partnership will see Aggregate Industries use Coomtech’s kinetic dryers in its PFA processing, as part of its effort towards increasing the volume of waste materials incorporated in its products to 3Mt/yr from 1.5Mt/yr by 2025. The project has attracted funding from the UK government Department of Business, Energy and Industrial Strategy (BEIS).

Chief commercial officer Chris Every said “We’re delighted to have the support of Aggregate Industries in this grant project. Coomtech is especially pleased to have the business’ ongoing technical and commercial input to the project operation and analysis of performance. In addition, the opportunity to work together with a brand that is leading the way in creating new materials that will prove fundamental to the future of the construction sector and meet net zero objectives.” Every continued “The added benefit of our new drying technology is its flexibility - providing the potential to dry a wide range of materials being considered to aid the greening of the cement industry, including limestone, ground blast furnace slag (GBFS), natural pozzolans and other crushed and milled minerals that can offer an activated character to combine in cement and concrete mixes.”

Burundi: The government of Burundi says that it is ready to sign a credit letter with Dangote Cement for the establishment of a cement plant in the country. In this way, the government hopes to provide a long-term solution to the on-going national cement shortage. In the meantime, the government urged Dangote Cement to devise ‘modalities for the supply of construction materials’ into the country.

Burundian delegates at a meeting with Dangote Cement on 8 July 2022 said that Northwest Burundi is endowed with abundant limestone reserves.

Nepal: Palpa Cement Industries has exported cement produced at its 3000t/day Sunwal cement plant to India. Indo-Asian News Service has reported that the shipment consisted of 3000 bags of the company’s Tansen brand cement. The producer says that it will continue with daily despatches to India, subject to demand.

The Nepal government offers 8% subsidies to cement exporters which use Nepali raw materials.

Australia: Boral Finance has announced the early results of a tender offer to purchase cash up to US$300m. The principal amount tendered is US$405m. The tender offer will expire on 20 July 2022.