The Central Development Working Party (CDWP) has cleared four development projects worth US$528m that are likely to lead to increased cement demand. This includes the Coal Rail Connectivity Project to connect significant coal reserves in the Thar Coal Mines with the existing rail network, including last mile connectivity to the Port of Qasim, according to
Sumitomo Osaka Cement says that it expects sales to rise by 14% year-on-year to US$761m during the first half of the 2024 financial year. Nikkei Financial Summary News has reported that the producer expects a drop in its cement volumes, offset by price hikes. Currency effects will also impact its result. Meanwhile, coal prices remained
The government in Indonesia made building new cement capacity harder this week. The new rules are intended to strengthen the local sector in the face of a utilisation rate of only 53%. A moratorium policy and/or new investment arrangements have been placed on new cement plant projects. Instead, companies have been asked to focus on
Asia Cement has launched its 2050 decarbonisation strategy, entitled ‘Net-Zero Carbon Emissions By 2050 – Asia Cement Advanced Deployment.’ The strategy consists of multiple pillars, namely ‘alternative fuels,’ ‘reducing cement’s clinker factor,’ ‘increasing renewable energy reliance’ and ‘carbon capture.’ During 2022, Asia Cement reduced its limestone, clay, iron and sand consumption by 266,000t, its coal
Arturas Zaremba, the head of Akmenes Cementas, has warned that government proposals to increase the import tax on coal in 2024 and the abolition of subsidies for the fuel will affect the company. The country’s parliament is also proposing scaling the import tax based on a CO2 scale, according to the Baltic Business Daily newspaper. Zaremba
UK-based private equity firm Chayton Capital has agreed to fund the feasibility study for the establishment of a joint public/private building materials production complex at the site of the Plejevlja energy hub. The complex will include a cement plant and cement bonded particle boards plant. Emerging Market Watch News has reported that the firm will
Tangshang Jidong Cement’s operating income fell by 5% year-on-year to US$5.03bn in 2022 from US$5.27bn in 2021. Its net profit dropped by 52% to US198m from US$409m. Its sales volumes of cement decreased by 13% to 87Mt. It reported a cement production utilisation rate of around 49% from its total capacity of 176Mt/yr. The company