Construction news
Egypt’s construction output remains resilient despite high inflation and currency depreciation, says GlobalData
Owing to ongoing economic instability in the form of high inflation, currency depreciation and rising prices for energy and construction materials, Egypt’s construction industry growth is expected to stand at 9.7% in real terms in 2022, following an 8.5% growth in 2021, found GlobalData, a leading data and analytics company.
Prometheus Materials raises $8 Million to decarbonise the building materials industry, in Series A funding round led by Sofinnova Partners
Prometheus Materials has announced that it closed its $8 million Series A financing round. The round was led by Sofinnova Partners, with participation by the Microsoft Climate Innovation Fund, Skidmore, Owings & Merrill (SOM), GAF, and The Autodesk Foundation.
Germany’s construction industry output expected to grow 1.9% in 2022 despite shortage in construction materials and escalating costs, says GlobalData
Supported by investments in transport infrastructure projects, in line with the German government’s focus on improving regional connectivity, the country’s construction industry is expected to regain growth momentum and expand by 1.9% this year.
GCC Fully Converts Minnesota Market to Portland Limestone Cement
As part of GCC’s commitment to net zero carbon emissions, GCC will fully convert the Minnesota market to portland limestone cement (PLC), a high-quality cement that lowers the carbon footprint of concrete.
GlobalData: Sri Lankan construction industry expected to shrink by 4.6% in 2022
The company forecasts that the Sri Lankan construction industry will contract by 4.6% in real terms in 2022 against the previous projection of 9.2% growth.
GlobalData: Northeast Asia to account for 39% of global construction output in 2022
The construction output in Northeast Asia is forecast to record a 4.2% growth and reach US$4.71 trillion in 2022 compared to US$4.52 trillion in 2021, according to GlobalData.
ABB upgrades process control systems and cement grinding units in UAE
The company has installed its distributed control system (DCS) automation platform to upgrade three grinding units at Star Super Cement in Dubai, UAE.
Rohrdorfer Cement Works reduce carbon emissions through rail transport
The cement works in Gmunden and Rohrdorf are currently reducing 5500 t of CO2 per year, which corresponds to around 50 000 truck journeys, by using more rail transport instead of trucks.
ACC Ltd launches concrete delivery app
The app offers a simpler way to handle concrete purchases as it provides real time order tracking.
Votorantim Cimentos shares 2021 financial results
The company ended 2021 with net profit of R$1.6 billion, an increase of 244% compared to 2020.