Africa & The Middle East

IFC has provided a US$50 million loan to Lafarge to aid economic recovery in Iraq.

In an unexpected end to the COP17 summit in Durban South Africa, the US, China and India have agreed to be included in a new legal framework for emissions reduction that will come into force in 2020, although the details of the deal are yet to be agreed. COP17 also agreed to an extension of the Kyoto Protocol to 2017.

Cimentos de Moçambique, Cimpor’s brand in the Mozambican market, has just been awarded the Best Brand of 2011 prize in the Industrial category of the Best Brands of Mozambique 2011 survey.

Macmahon Holdings Ltd is to undertake quarrying operations at UniCem’s 2.5 million tpa cement plant near Calabar, Nigeria.

A new 6 million tpa Dangote cement plant in Ibese, Ogun State, will soon be inaugurated.

Bamburi Cement and Athi River Mining are expected to realise higher cash return from their operations in the next three years.

Michel Folliet, Chief Industry Specialist for IFC Building Materials Sector, explains how IFC is contributing to sustainable growth in the cement industry across the emerging markets of Middle East and North Africa.

The East African Portland Cement Company (EAPCC) has return to the profit zone thanks to a new tax credit, despite a loss of earnings from the weakening of the Kenyan shilling against the Japanese yen.

Expecting to single-handedly surpass Nigeria’s entire 17 million tpa cement need before the end of next year, the Dangote Group reports that its capitalisation has reached US$15 billion.

Saudi Cement Company said net profits for the third quarter rose by more than a third against the same period last year, though results were down against the second quarter.

In Zambia, Zambezi Portland Cement Limited (ZPC) has reportedly increased production from 1100 tpd to 1300 tpd.

Nigeria continues its progress towards becoming self-sufficient in cement production, and Nigeria giant Dangote signs investment agreements in Ethiopia and the DRC.

As part of its southern African expansion, PPC has acquired three aggregate quarries from Quarries of Botswana for US$6.8 million.

BankMuscat has agreed to two loans totalling more than OMR25.77 million for the cement manufacturer.

FLSmidth has received four minerals orders, worth approximately €40 million each, from a company in the Middle East