Global Cement News

India: JSW Cement has priced its US$409m initial public offering (IPO) between US$1.58 - US$1.67/share. The company will allocate US$91m to partly fund a new integrated cement facility in Nagaur, Rajasthan and US$59.2m for repayment or prepayment of existing borrowings, according to Mint news. The remaining funds will be used for general corporate expenditures.

Venezuela: The cement industry increased output by 14% year-on-year in the first half of 2025, attributed to ‘strategic alliances’ between the public and private sectors, plant modernisation and new infrastructure projects, according to Agencia Venezolana de Noticias.

Minister of Industry and National Production Alex Saab said “Each bag of cement produced is an additional step to productive development, the construction of houses, schools, hospitals and works that benefit the people.”

South Korea: Domestic cement sales dropped by 17% year-on-year to 18.9Mt in the first six months of 2025, their lowest level in this period since 1992, according to the Korea Cement Association. After peaking at 26Mt in 2023, sales fell by 7.16Mt (27.5%) in two years, driven by a prolonged recession in the construction industry and reduced social overhead capital spending.

A Korea Cement Association official said “The sense of crisis in the cement industry is reaching its worst. Although we have already entered crisis management, it will be difficult to achieve results unless highly effective measures to stimulate the construction economy are introduced. We expect domestic cement sales this year to fall significantly below 40Mt.”

Domestic cement companies such as Sampyo Cement, Ssangyong C&E, Hanil Cement, Asia Cement and Sungshin Cement are expected to see their businesses deteriorate further when results are released in mid-August 2025. Strengthened environmental regulations are also adding pressure to the sector.

Kenya: Kalahari Cement will spend US$5.57m to acquire a 29% stake in East African Portland Cement (EAPC) from Associated International Cement and Cementia Holding, making it one of the largest shareholders. Kalahari will purchase a combined total of 26.3 million shares from the two parties. The deal, priced at US$0.21/share, is subject to several regulatory approvals.

Kalahari is a Kenyan-incorporated investment vehicle, backed by Pacific Cement (90%) and Comercio Et Consiel (10%). It currently has no direct stake in EAPC but is affiliated with Bamburi Cement, which owns 12.5%. EAPC operates an integrated cement plant near Nairobi.

Pakistan: Cement despatches rose by 30% year-on-year to 3.99Mt in July 2025 from 3.07Mt in July 2024, according to data from the All Pakistan Cement Manufacturers Association (APCMA). Local sales grew by 18% to 2.98Mt during the period, while exports increased significantly, by 84%, to 1.01Mt from 0.54Mt previously.

An APCMA spokesperson said “The new fiscal year started on a positive note in spite of disturbing weather conditions in most parts of the country.” The APCMA expressed hope for continued momentum for the rest of 2025, supported by improved macroeconomic indicators.