Global Cement News

France: The General Directorate for Competition Policy, Consumer Affairs and Fraud Control (DGCRF) has fined Ciments Calcia Euro0.67m for late payments to other businesses. France Manche, the local subsidiary of Eurotunnel, and insurance company MMA were also fined. The ceiling for such fines was increased to Euro2m from below Euro0.4m in late 2016 and is applicable to invoices issues since then. Ciments Calcia is a subsidiary of Germany’s HeidelbergCement.

Oman: Raysut Cement has confirmed its plans to buy a 1.7Mt/yr grinding plant owned by Sohar Cement based in Sohar. The acquisition also includes purchasing the company’s distribution network, according to the Oman Daily Observer newspaper. Sohar Cement holds a 70% stake in the business, with UAE-based Fujairah Cement Company owning the remaining share.

Iran/Iraq: Hamid Hosseini, the secretary general of Iran-Iraq Joint Chamber of Commerce, says that exports of cement from Iran to Iraq and the Kurdistan region of Iraq have been suspended for the last year. Tariffs were added first before a ban, according to Tejarat News. At present exports of clinker are allowed.

India: Birla Corporation’s revenue rose by 10% year-on-year to US$944m in the financial year to 31 March 2019 from US$856m in the same period in 2018. Its profit for the period rose by 66% to US$36.9m from US$22.2m. Notably, its power and fuel costs increased by 14% to US$214m from US$188m.

India: Sagar Cement has completed its acquisition of Jajpur Cements at Jajpur in Odisha at a cost of US$16m. It now plans to build a new 1.5Mt/yr cement grinding plant at the site for US$44m. The project is subject to regulatory approval but it is scheduled for completion by March 2021.