Economy & Market

Lafarge increases its stakes in Ashaka Cement

Published

14 years ago

June 30, 2011

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Lafarge has acquired additional 8.45 per cent equity stake in Ashaka Cement Plc to increase its majority shareholding from 50.16 per cent to 58.6 per cent. Ashaka Cement has about 2.24 billion ordinary shares with a paid up share capital of N1.12 billion. Lafarge Nigeria Country Manager Jean-Christophe Barbant, said the increase of its equity stake confirms the company’s belief in the potential of AshakaCem and reinforces its commitment to the economic development of Nigeria. He added that Lafarge has long term interest in the economy and would continuously explore opportunities to increase operations with a view to meeting the cement demand of Nigeria. He said the foreign core investor would support Ashaka Cement with the resources to enhance service delivery for customers, increase production volumes to meet the growing demand for cement, deliver additional value for shareholders and further develop the skills of employees. The acquisition has already received the approval of the Nigerian Stock Exchange and the Securities and Exchange Commission (SEC) in line with Rule 111 of the Investment Securities Act.

Concrete

Cement industry to gain from new infrastructure spending

Published

1 week ago

July 24, 2025

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

Concrete

AI boom drives demand, says ACA

Published

1 week ago

July 24, 2025

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The American Cement Association projects a nearly 1Mt annual increase in US cement demand over the next three years, driven by the surge in AI data centres. Consumption by data centres is expected to grow from 247,000 tonnes in 2025 to 860,000 tonnes by 2027. With over 5,400 AI data centres currently operating and numbers forecast to exceed 6,000 by 2027, the association cautions that regulatory hurdles and labour shortages may impact the industry’s ability to meet demand.

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Concrete

GoldCrest Cement to build plant in India

Published

1 week ago

July 23, 2025

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GoldCrest Cement will build a greenfield integrated plant with a 3.5Mt/yr clinker capacity and 4.5Mt/yr cement capacity. GoldCrest Cement appointed Humboldt Wedag India as engineering, procurement and construction contractor in March 2025 and targets completion by March 2027. It has signed a 40-year supply agreement with Gujarat Mineral Development Corporation for 150Mt of limestone from its upcoming Lakhpat Punrajpur mine in Gujarat.