India: Ramco Cements has received board approval to sell its entire stake in its transport subsidiary Lynks Logistics. CNBCTV18 News has reported that the producer plans to execute a share subscription and purchase agreement with food delivery service operator Bundl Technologies.
Ramco Cements originally invested in a 46% stake in Lynks Logistics for US$700,000 in January 2020. It enlarged its stake to 69% for US$273,000 in September 2020.
Kazakhstan: Steppe Cement sold 749,000t of cement during the first half of 2023, down by 11% year-on-year from 837,000t in the first half of 2022. The value of sales fell by 13% to US$38.5m from US$44.4m.
Vietnam: The People’s Committee of Hoa Binh Province authorised Xuan Khiem Group to begin building its Xuan Son cement plant earlier in July 2023. Việt Nam News has reported that the upcoming plant will commence operations in late 2024, and will have a capacity of 2.3Mt/yr.
Australia: Korea Hydro & Nuclear Power has concluded a memorandum of understanding (MoU) with Hallett Group and renewable energy consultancy Elecseed. Business Korea Daily News has reported that the signatories will collaborate on Hallett Group’s Green Cement Transformation project. The project aims to reduce CO2 emissions by 300,000t/yr, and eventually by 1Mt/yr, by producing reduced-CO2 cement from three industrial waste streams. It will also use green hydrogen. The US$83.6m project has US$13m-worth of funding from the government.
Additionally, the partners say that they will seek to foster a ‘globally competitive hydrogen export industry.’
