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Poor cement market slows CNBM financial results in 2023
China: Poor performance by CNBM’s Basic Building Materials division dragged down the group’s sales in 2023 despite positive performance by the group’s Engineering Technical Services and New Materials segments. Its revenue fell by 10% year-on-year to US$29.1bn in 2023 from US$32.3bn in 2022. Its profit after tax dropped by 33% to US$1.44bn from US$2.13bn. Sales volumes of cement and clinker decreased by 3% to 309Mt from 317Mt. Sales volumes of commercial concrete fell by 5% to 80.8Mm3 from 84.7Mm3. Revenue for the Basic Building Materials division fell by 19% to US$16.4bn. The company blamed this on a fall in the price of cement, concrete and aggregates although an increase in sales volume of aggregates was noted. The group said that in 2023, the cement industry was characterised by ‘insufficient demand, weakening expectations and weakening off-peak season characteristics,’ coupled with and aggravating surplus and high costs. /Global Cement

Udaipur Cement commissions new grinding unit at Udaipur cement plant
India: Udaipur Cement has commissioned a new grinding unit at its Udaipur cement plant in Rajasthan. The unit more than doubles the plant s grinding capacity from 2.2Mt/yr to 4.7Mt/yr. Capital Market News has reported that the Udaipur plant now has an integrated capacity of 3Mt/yr, following the establishment of a second 1.5Mt/yr clinker line there in October 2023. The company said "Udaipur Cement has been a pioneer in the promotion of various green initiatives. The company is the only one in the entire Indian cement industry with a 1MW floating solar power plant at its mines. During the fourth quarter of the 2024 financial year, the company also doubled its Udaipur cement plant s waste heat recovery capacity from 6MW to 12MW. This has enabled Udaipur Cement to achieve a green energy share of more than 50% in total electrical energy consumption." /Global Cement

Fujairah Cement’s loss grows in 2023
UAE: Fujairah Cement s revenue fell by 8% year-on-year to US$93.6m in 2023 from US$102m in 2022. It reported a net loss of US$72.3m, up by 85% from a loss of US$39.2m. The company blamed the situation on higher production costs due to rising coal and fuel prices. It said that it plans to increase its cement sales volumes domestically and internationally to improve its capacity utilisation rate. It operates an integrated cement plant at Dibba in Fujairah Emirate. /Global Cement

Boliden announces upcoming alternative cement plant
Finland: Boliden says it has a developed a 95% reduced-CO2 alternative cement production process based on the use of slag. Nordic Daily News has reported that the process has received verification from ‘established players in the cement industry.’ A preliminary study is underway, wherein Boliden will establish a 250,000t/yr production plant. Additionally, the process extracts usable metal from slag. /Global Cement

Dangote Cement records 36% sales growth in 2023
Nigeria: Dangote Cement has reported a 36% year-on-year rise in its sales to US$1.44bn in 2023. Meanwhile, the producer’s profit after tax grew by 19% to US$300m. Dangote Cement’s expansion of its market share across Africa continued, with pan-African volumes growth of 13%, to 11.3Mt. /Global Cement

Eastern Province Cement and Sinoma CDI conclude Khursaniyah cement plant Line 5 contract
Saudi Arabia: Eastern Province Cement Company has entered into a contract with China National Building Material subsidiary Sinoma CDI to build its Khursaniyah cement plant s upcoming 10,000t/day Line 5. Mubasher News has reported the value of the contract as US$271m. The contract includes engineering, supply, construction, installation, testing, operation and training services on a complete turnkey basis. CEO Fahd bin Rashid Al-Otaibi said “The project aims to replace some low-efficiency production lines, enhancing energy efficiency and the company s capacity to meet local demand. This initiative aligns with the kingdom s vision to maximise shareholder returns and support future infrastructure projects that improve quality of life.” The company secured approval from its board to award the contract to Sinoma CDI in January 2024. /Global Cement

Vietnamese cement sales to rise in 2024
Vietnam: Financial management company SSI Securities Corporation says that it expects Vietnam’s cement consumption to ‘bottom out’ in the first quarter of 2024, before recovering ‘gradually’ throughout the rest of the year. Việt Nam News has reported that the anticipated recovery is the outcome of intensified investments in infrastructure by the Vietnamese government, beginning in late 2023. The cement sector also anticipates growing demand from export markets, including Australia, the US, Africa and South and Central America, as it lowers its reliance on exporting to China. Challenges persist in the form of protective measures or stricter standards in other markets, including the Philippines and Europe. /Global Cement
UAECEMENT.COM - Feb, 3,2024

Azerbaijan grows its cement production by 4.6% in 2023
Azerbaijan: Cement production in Azerbaijan increased by 4.6% year-on-year to 3.73Mt in 2023, data from the State Statistics Committee has shown. Clinker production rose even more sharply, by 37%, to 3.87Mt. BNI IntelliNews has reported growth of 32% year-on-year in the overall value of building materials in 2023, to US$694m. /Global Cement
UAECEMENT.COM - Jan, 27,2024

Yamama Cement to expand Riyadh cement plant
Saudi Arabia: Yamama Cement has hired China National Building Material subsidiary Sinoma Overseas Development to build a new 12,500t/day production line at its Riyadh cement plant. The China-based supplier will handle engineering, procurement and construction. The supplier is already engaged in relocating a 10,000t/day line from Yamama Cement s previous plant to the Riyadh plant. Once both lines are operational, the new plant will command a clinker capacity of 8.2Mt/yr. Sinoma Overseas Development general manager Yang Lei re-emphasised the company s commitment to leveraging its technical strengths in both of its on-going projects with Yamama Cement. /Global Cement
UAECEMENT.COM - Jan, 22,2024

Arabian Cement Company quantifies costs impacts of fuel price rise
Saudi Arabia: Arabian Cement Company has estimated that its production costs will rise by 14% after Saudi Aramco raised its fuel prices. In an addendum to a previous announcement published on the Saudi Exchange on 4 January 2024, the producer said that it will explore cost reduction strategies throughout the coming financial period. /Global Cement
UAECEMENT.COM - Jan, 17,2024

Oman Cement Company raises sales and profit in 2023
Oman: Oman Cement Company recorded sales of US$189m in 2023, up by 4% year-on-year from US$181m in 2022, Reuters has reported. The company’s net profit also grew during the year, by 16% to US$15.1m from US$13m. /Global Cement
UAECEMENT.COM - Jan, 17,2024

New Gas pipeline built at Najaf cement plant in Iraq
Iraq: A 1200m dry gas pipeline feeding the Najaf cement plant has been commissioned. The project was the first external assignment carried out by the Oil Pipelines Company, according to the National Iraqi News Agency. The plant is operated by the Southern Cement Company. /Global Cement
UAECEMENT.COM - Jan, 02,2024

Holcim Azerbaijan to build cement terminal in Jabrayil in 2024
Azerbaijan: Holcim Azerbaijan plans to build a 2000t-capacity cement terminal in the Araz Valley Economic Zone in Jabrayil. AzerNews has reported that Holcim Azerbaijan will build the terminal in phases, commencing in 2024. The producer’s offering in the local market includes its ECOPlanet Inshaatchi and ECOPlanet Optimal reduced-CO2 cements. In a later phase, it will install a dry adhesive and ready-mix concrete batching plant at the facility. Planned investments at the site total US$2m. Commercial director Sergiu Stoicov said "We aim to bring new methods to help the construction industry build sustainably. Through Inshaatchi and Optimal, we are taking a step in the race for CO2 reduction and the use of alternative raw materials. Holcim Azerbaijan is the first company in the Caucasus to offer green cement.” Azerbaijan produced 3.42Mt of cement throughout the first 11 months of 2023. This represents a 4.1% year-on-year rise from 11-month 2022 levels. Meanwhile, clinker production rose by 10% year-on-year to 3.51Mt. /Global Cement
UAECEMENT.COM - Dec, 20,2023

Adbri updates market on Kwinana grinding plant expansion
Australia: Adbri says that the cost and timing of its on-going expansion of its Kwinana grinding plant in Western Australia remain on track. To date, the producer has invested US$161m in the expansion, towards a projected cost of US$385-420m. In an accompanying trading update, Adbri said that it expects its full-year earnings before interest, taxation, depreciation and amortisation (EBITDA) to be US$208 -212m in 2023, ‘moderately’ above its previous outlook. In 2022, its earnings before interest and taxation (EBIT) amounted to US$106m. The company has forecast total capital expenditure investments for 2023 of US$208-215m. It previously expected to invest US$221-235m during 2023. /Global Cement
UAECEMENT.COM - Dec, 16,2023

Bamburi Cement and Cementia Holding to sell Hima Cement for US$15m
Uganda: Holcim subsidiaries Bamburi Cement and Cementia Holding have negotiated a price of US$120m for Hima Cement with buyer Sarrai Group. Business Daily News has reported that the price is 14% higher than the company’s previous valuation. The parties said that the agreed price takes into consideration ‘multiple factors,’ including Hima Cement’s performance in 2022 and forecast performance for 2023./Global Cement
UAECEMENT.COM - Dec, 11,2023

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