Global Cement News

Kenya: Savannah Cement’s creditors voted in favour of administrator Peter Kahi’s debt reduction plan for the company on 16 April 2024. Kahi’s plan involves leasing out the site of the company’s Kitui plant, while also seeking a buyer for it.

Business Daily has reported that the Office of the Attorney General has declared Kahi's reappointment as administrator of Savannah Cement on 24 January 2024 as invalid.

Qatar: Qatar National Cement Company’s net profit was US$14.1m in the first quarter of 2024, Mist News has reported. This represents a decline of 20% year-on-year from same period in 2023.

India: Star Cement has launched a new clinker line at its Lumshnong, Meghalaya, cement plant. Capital Market News has reported that the line has a capacity of 3.3Mt/yr.

India: Adani Group has enlarged its stake in Ambuja Cements from 67% to 70%. The Telegraph newspaper has reported that the group converted warrants into shares in the producer. As a result, it will invest an additional US$1bn in funding for Ambuja Cements, having previously infused funding worth US$2.4bn.

Ambuja Cements director and CEO Ajay Kapur said “This infusion of funds provides Ambuja flexibility for fast-track growth, capital management initiatives and best-in-class balance sheet strength.”

North Korea: Cheonnaeri Cement has successfully concluded testing of a new calciner at its Cheonnaeri cement plant in South Hamgyong. Korean News has reported that the equipment has expanded the capacity of the plant, which was formerly 1Mt/yr. The company completed the work in three months.