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Siam Cement to buy stake in Indonesia's PT Chandra Asri Petrochemical Tbk

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Thailand’s largest industrial conglomerate by sales, Siam Cement PCL, recently announced plans to buy a 30 per cent stake, worth US$441.2 million in Indonesia’s PT Chandra Asri Petrochemical Tbk. The 30 per cent stake will be purchased from two different sources. Siam Cement will buy a 22.9 per cent stake from Apleton Investments, a unit of Singapore government’s investment arm Temasek Holdings Pte. Ltd., and a 7.1 per cent stake from PT Barito Pacific Tbk. Chandra Asri, Indonesia’s sole cracker operator, operates 520 000 tpa of cracker at Merak, West Java. The company produces polyethylene, polypropylene, styrene monomer and various other olefins products. The company confirmed in a statement to the Thailand stock exchange that it will, through its wholly owned unit SCG Chemicals, hold 919.8 million shares in Chandra Asri.The controlling shareholder of Chandra Asri, Barito, a diversified company with business interests in the petrochemicals, forestry, property, mining and energy sectors, will hold a 59.4 per cent stake. The deal will allow Siam Cement to expand its presence in the region and fulfil its ambition of becoming a major petrochemicals player in Southeast Asia.

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Concrete

Holcim UK drives sustainable construction

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Holcim UK has released a report titled ‘Making Sustainable Construction a Reality,’ outlining its five-fold commitment to a greener future. The company aims to focus on decarbonisation, circular economy principles, smarter building methods, community engagement, and integrating nature. Based on a survey of 2,000 people, only 41 per cent felt urban spaces in the UK are sustainably built. A significant majority (82 per cent) advocated for more green spaces, 69 per cent called for government leadership in sustainability, and 54 per cent saw businesses as key players. Additionally, 80 per cent of respondents stressed the need for greater transparency from companies regarding their environmental practices.

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Concrete

GCCA releases LCR system

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The Global Cement and Concrete Association (GCCA) has launched the Low Carbon Ratings (LCR) system for cement and concrete, a new global rating based on products’ carbon footprints. The system uses a clear AA to G scale to help customers prioritise sustainability in material selection across construction sectors worldwide. The GCCA says that the LCR system is designed to be easily recognisable, with a simple visual graphic that indicates a product’s rating and provides consistency and comparability to other products.

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Concrete

FLSmidth opens eco-friendly plant in Casablanca

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FLSmidth has inaugurated a €21 million mill liner manufacturing plant in Casablanca, covering 11,250m² with a production capacity of 6,500 tonnes annually. The LEED-certified facility significantly reduces carbon emissions by up to 56 per cent and fully recycles water used in the manufacturing process. Up to 250 jobs will be created in the Valparaíso region. Mikko Keto, CEO, highlighted the plant as a symbol of FLSmidth’s commitment to sustainable mining and community engagement in South America. Earlier in 2024, the Denmark-based company announced plans to sell its cement division to sharpen its focus on mining operations.

 

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