Global Cement News

Nigeria: Dangote Cement plans to buy back 1% of its issued shares under its on-going share buyback programme. The Business Post newspaper has reported that the group launched the first tranche of the programme in 2020. At that time, it bought back 0.2% of its shares. Dangote Cement will make the currently planned purchase when the second tranche commences on 19 January 2022.

Pakistan: Power Cement has signed an agreement with Burj Solar Energy for the procurement of electricity on a fixed tariff for the next 20 years. The supplier plans to build a 7MW solar power plant to support the deal. The unit is expected to be operational by mid to late 2022. Power Cement said it took the decision to cut growing electricity costs.

Burundi: The Ministry of Commerce, Industry and Tourism has asked the Burundi Cement Company (BUCECO) to hold a consultation with the government about price rises the company announced at the end of December 2021. It also requested that the cement producer suspend the change in prices, according to the Le Renouveau newspaper. In correspondence the ministry reminded the company that it had benefited from tax and customs breaks previously agreed with the government under the Burundian Investment Code.

Egypt: Capriole subsidiary EGY Crete plans to establish a concrete products plant in Beni Suef Province by 2024. The plant will produce paving slabs, among other products.

India: Sagar Cements has announced the commissioning of its 1.5Mt/yr Jajpur grinding plant in Odisha. The plant commenced operations in early January 2022, slightly behind its scheduled December 2021 commissioning date. Jajpur Cements received clearance for the plant in September 2020 and invested US$41m in its construction.