Global Cement News

Nigeria: Ibeto Cement has signed a deal with Milost Global for US$850m. The US-based private equity firm will provide US$500m in equity and US$350m as debt to the cement producer, according to Bloomberg. In a separate development Ibeto Cement has also entered into a reverse merger with Century Petroleum, an oil and gas exploration company.

Ibeto Cement has operated a cement terminal in Port Harcourt since 2005. It is also renovating the former Nigercem plant in Nkalagu. It announced a US$386m contract with China’s Sinoma in late 2015 to build a cement plant in Enugu.

Rwanda: Vincent Munyeshyaka, the Minister of Trade and Industry, says that traders who are charging too much for cement will be fined. He told the New Times newspaper that about 30 traders have been fined for cement price speculation so far. Fines range up to about US$350. The country has faced a shortage of cement since February 2018 when local producer Cimerwa started upgrade work at its Bugarama plant.

Pakistan: Germany’s Loesche has sold four vertical roller mills (VRM) to Bestway Cement through China’s Sinoma International Engineering. The mills will be used to upgrade Bestway Cement’s Farooqia plant in the Punjab province. No expected date of commissioning or value for the order has been disclosed.

The order consists of one raw mill, one coal mill and two clinker mills. One four-roller mill VRM with a capacity of 450t/hr will be used to grind cement raw material to a fineness of 12% with sieving residue of R 90μm. Two further mills with a throughput of 170t/hr will serve for the subsequent grinding of cement clinker to a fineness of 3200 Blaine. One large modular VRM with a capacity of 40t/hr will be used in the grinding of coal to a fineness of 10% and R 90μm sieving residue.

India: Binani Cement's committee of creditors (COC) has accepted a bid by UltraTech Cement. The COC will now submit UltraTech Cement’s plan to the National Company Law Tribunal (NCLT) for approval, according to the Times of India newspaper. However, the Supreme Court is also looking at the case following a petition by rival bidder Dalmia Bharat.

UltraTech Cement made a direct bid of US$1.12bn for the bankrupt Binani Cement following an auction in March 2018 that was originally won by Dalmia Bharat. Dalmia Bharat has disputed UltraTech Cement’s offer and the two companies have conducted legal campaigns to reinforce their respective claims.

Oman: Cyclone Mekunu has forced Raysut Cement to stop production for eight to 10 days. The cement producer said that the storm caused external damage to its plant at Salalah and flooded production buildings and the stockyard.