Displaying items by tag: Finance

Costa Rica: Holcim Costa Rica has completed its merger of its circular materials management subsidiary Geocycle into itself. Following the merger, the cement producer’s registered capital rose by 13%, to US$16.3m. As a result, it will slightly reduce its capital by under 1% in order to align with accounting capital. The El Financiaro newspaper has reported that the company will now seek shareholder approval for the measure.

Brazil: Votorantim Cimentos has secured a US$150m loan from the International Finance Corporation for an upgrade to its Salto de Pirapora cement plant in São Paulo. The producer aims to increase the alternative fuel (AF) substitution rate at the 4.8Mt/yr plant, and reduce its CO₂ emissions. It says that the loan is tied to sustainability performance indicators (SPIs), based on the reduction in the plant’s Scope 1 CO₂ emissions.

Egypt: Cemex has signed a three-year cooperation protocol with VeryNile. Local press has reported that VeryNile is in the process of expanding its waste collection capacity. Through the partnership, the cement producer will provide finance for VeryNile's waste collection equipment purchases and cover its operating costs.