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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.
The company’s subsidiaries have signed contracts with ACC Limited worth the equivalent of more than €35 million.
The World Cement Association has announced that it is welcoming Korea Cement Association (KCA) as an Affiliate Member of its international network.
The Dubai Municipality is set to launch tenders in the first quarter of 2020 for major tunnelling contracts to build deep tunnel sewer networks serving the old areas of Deira and Bur Dubai.
Major international contractors are exiting the GCC as uncertainty about the volume of work likely to emerge in the UAE continues.
It has been announced that Raysut Cement Company (RCC) has become a Corporate Member of The World Cement Association.
IndexBox has provided a summary of the key findings from a report regarding the Turkish cement industry.