Global Cement News

Switzerland/US: Holcim will complete the 100% spin-off of its North American business, Amrize, with trading expected to begin on 23 June 2025. The US Securities and Exchange Commission has declared effective the Amrize Form 10 Registration Statement, and Amrize has received authorisation to list shares on the New York Stock Exchange and the SIX Swiss Exchange under ‘AMRZ’.

Holcim shareholders approved the move with 99.75% in favour at the company’s annual general meeting on 14 May 2025. Each Holcim shareholder will receive one Amrize share per Holcim share owned as of close of business on 20 June 2025. The spin-off will be treated as tax neutral for Swiss tax and tax-free for US federal income tax purposes. S&P Global Ratings and Moody’s Ratings rated Amrize at BBB+ and Baa1, respectively, both with stable outlooks.

Kyrgyzstan: The Ministry of Economy and Commerce has initiated a discussion on a draft cabinet resolution to classify cement as a socially significant good, enabling the government to regulate its price amid concerns over unjustified increases. The ministry said the move would stabilise the construction market, reduce housing costs and improve affordability, as price increases have hindered the construction of social and infrastructure projects. Officials said the only likely negative impact would be reduced profits for producers and intermediaries under market volatility. The draft is open for public discussion until 13 June 2025.

The Kyrgyz cabinet previously lifted a cement import ban to ease supply constraints and meet rising demand.

Greece: Holcim has broken ground at the Olympus project at its Milaki plant, which will produce 2Mt/yr of ‘near-zero-CO₂’ cement from 2029. The producer will invest €400m in the development, and it has secured €125m from the EU Innovation Fund. The plant will combine OxyCalciner and Cryocap FG technologies for carbon capture. Holcim said the project would create over 1000 jobs for the local area.

Holcim CEO Miljan Gutovic said “The Olympus project in Greece is one of our seven large-scale, EU-supported carbon capture, utilisation and storage projects that are setting the Clean Industrial Deal in motion. Together, these will enable Holcim to offer over 8Mt/yr of near-zero cement across Europe by 2030.”

UAE: Emsteel has signed a strategic partnership with Finnish company Magsort to produce decarbonised cement using steel slag. The agreement follows an industrial-scale pilot at its Al Ain plant that used 10,000t of steel slag to produce low-carbon cement. To meet growing local demand, Emsteel will build an integrated line at the Al Ain facility to process steel residue from its Abu Dhabi steel plant.

India: GoldCrest Cement will build a greenfield integrated plant with a 3.5Mt/yr clinker capacity and 4.5Mt/yr cement capacity. GoldCrest Cement appointed Humboldt Wedag India as engineering, procurement and construction contractor in March 2025 and targets completion by March 2027. It has signed a 40-year supply agreement with Gujarat Mineral Development Corporation for 150Mt of limestone from its upcoming Lakhpat Punrajpur mine in Gujarat.