Global Cement News

India: Ambuja Cements sold 6.7Mt of cement during the second quarter of its 2023 financial year, up by 12% year-on-year. Its standalone revenues were US$443m, up by 13% from second-quarter 2022 financial year levels. Cost growth outstripped sales at 32% year-on-year, resulting in earnings before interest, taxation, depreciation and amortisation (EBITDA) of US$36.7m, down by 57% year-on-year.

CEO Ajay Kapur said "The cement industry has been facing significant margin pressure resulting from a steep rise in global energy prices. However, recent cooling off in energy prices and post-monsoon demand pickup appears to present a silver lining for the coming quarters."

Kapur said that Ambuja Cement's focus is currently on future capacity expansions, with the aim of becoming India's market leader.

China: China Resources Cement (CRC) plans to sell subsidiaries CRC Changzhi and China Resources Concrete (Lucheng) for US$168m or more. CRC Changzhi operates a 2Mt/yr cement plant in Changzhi City, Shanxi Province. Both it and China Resources Concrete (Lucheng) serve the Shanxi Province market.

Pakistan: Fauji Cement has recorded first-quarter sales of US$67.2m in its 2023 financial year, up by 27% year-on-year from US$52.9m during the first quarter of the previous financial year. The producer's cost of sales was US$47.9m, up by 29% from US$37.3m, and it recorded a profit for the period of US$10.6m, up by 10% from US$9.62m.

Fauji Cement is currently undergoing a transition into the third largest cement producer in Pakistan, through a US$122m 2.05Mt/yr expansion to its Nizampur, Khyber Pakhtunkhwa, cement plant and a US$148m 2.05Mt/yr expansion to its Dera Ghazi Khan cement plant. Together, Fauji Cement will fund the projects through US$171m-worth of debt, US$54.9m-worth of internal cash generation and US$45.7m-worth of equity.

UK: The Materials Handling Engineers Association (MHEA) has named John King Chains as the UK’s Supplier of the Year to the materials handling industry.

Managing director David Wadsworth said “It is fantastic to achieve such a prestigious award, and one that confirms that our continual reinvestment into best manufacturing equipment and techniques over the years was the right decision, backed up by our remarkable workforce, who cannot be underestimated." Wadsworth added "We are pleased to also inform our clients that we have further exciting plans in the pipeline, and one we aim to announce to the industry in
early 2023!”

UAE: Asian Paints has partnered with Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company in a 60:40 joint venture for the purpose of white cement and white cement clinker production. The joint venture will invest US$66.5m in the construction of a planned 265,000t/yr integrated cement plant in the Emirate of Fujairah. The project will take until October 2024 to complete. In addition, the new company plans to establish grinding units in India to serve the export market.

Riddhi Siddhi Crusher & Land Transport and Associated Soap Stone Distributing Company operates limestone mines in Fujairah.