Asia & Pacific Rim

The plant is currently under construction and will produce cement in Porac, near Angeles City in the Central Luzon region.

According to GlobalData, the Hong Kong construction industry was in dire straits in 2019 as political unrest disrupted the market – the COVID-19 induced economic weakness is now expected to further exacerbate the scenario.

The COVID-19-induced economic uncertainty has disrupted Singapore’s construction industry, with output now expected to plummet by 14.1% in 2020, according to GlobalData.

The company signed an agreement last year with San Miguel Corporation for the sale of its entire 85.7% shareholding in Holcim Philippines Inc., however the agreement has since lapsed.

According to the company, construction output is set to contract in South and South-East Asia as a result of the coronavirus causing disruption to the construction industries.

The company predicts that COVID-19 and lower oil prices will drive Australia’s construction industry to contract.

Due to COVID-19 related disruptions and worsening economic conditions, GlobalData forecasts the Russian construction industry to contract by 3.8% in 2020.

The company’s results show a 2% growth in sales, reaching US$3.1 billion.

The company’s Q1 results are encouraging, despite the disruption caused by the ongoing COVID-19 crisis.

The company predicts that the construction industry in South Korea will contract due to containment measures for COVID-19 and slower economic growth adversely affecting the industry.

The company has shared its financial results for the quarter ended 31st March 2020, recording EBITDA growth of 30%, and cement volumes growth until February 2020.

According to GlobalData, construction output growth in China is expected to grow by just 1.9% in 2020.

The company has received large orders for medium-sized excavators from China, as the Chinese construction machinery markets begin showing positive signs of recovery.

In Q1 2020, Steppe Cement Ltd sold 235 896 t of cement for 4003 million Tenge, compared to 266 393 t of cement for 4455 million Tenge in the first quarter of 2019.

The companies have signed an agreement to increase the amount of soft plastic wastes to be collected and co-processed in the Republic Cement’s kilns.