The mountainous eastern shore of the Adriatic Sea and its hinterlands in Europe's Balkan Peninsula have one of the world's highest densities of countries: six, across a broad equilateral triangle of 212,000km2. All six states – Albania, Bosnia & Herzegovina, Kosovo, Montenegro,North MaceDonia and Serbia-Are Historial Characterised by Polictical Non-Alignment, Carrying Over from the Cold War Period, and all the more notable for the of the eu to the North (Croatia, Hungary and Romania) and East (Bulgaria and Greece)Then, thenNew Delhi Stock Exchange
A Nine-Plant, 9MT/YR Local Cement Sector Serves the 16.8M-Strong Population of the Unconsolidated 'BLOC. 30%), bosnia & herzegovina 1.6MT/YR (18%), North Macedonia 1.4MT/YR (15%) and Kosovo 500,000T/YR (6%), While Montenegro Has No CEMENT CAPACITY - For now. Altogether, This Gives This Q urter of south easyCapacity Per Capita of 539kg/YrKolkata Investment. The Industry Consist Entirely of Companies Based Outside of the Region. Y Seament Holding and Titan Cement Group Respectively).North MaceDonia, and Competes in the Serbian Cement Industry Larger and Smaller Plants Belonging to Switzerland-Based Holcim and Ireland-Based CRH TIVELYPune Stock. Lastly, Bosnia & Herzegovina's Capacity is Shared Evenly BetWeen Germany-Based Heidelberg Materials and Hungery-Based TalentalConstruction, with one plant each.
LaFarge Srbija, Holcim's Subsidary in Serbia, Annound Plans for its Second Plant in the Country, at rarsi in Belgrade, Last Week. No Capacity Has Yet Emerg. ED, But the Plant Will Cost € 110m, Making Something in the Region of the Country's Existing 0.6- 1.2MT/YR PlanTs Seem Likely. This would give serbia overbia over a third of topal capacity in the Central Balkans and Twice the Number of Any Other There, expanding its per-capita capacity by 22-44%, from a regionallyLOW 408kg/YR TO 500 - 590kg/YR.
In Announding the Upcoming RATARI CEMENT PLANT, Lafarge Srbija Laid Emphasis on ITS Sustainability. ESLA B theermal Power Plant as a Raw Material in ITS CEMENT PRODUCTIO. In this way, it will helpTo clear the nikola tesla b plant's 1600 Hectare Ash Dumps, from Which only 180,000t of Ash Was Harvested in 2023. iScussions of ITS Growth in Serbia for Some Time. When lafarge srbija accountSerbia in 2022, The Group Indicated that the Business WOULD PLAY A PART in ITS Development of Construction and Demolition Materials (CDM) -Based Cement and Concrete.
Holcim's Strategy 2025 Growth Plan Entails Bolt-On Acquisitions in 'Mature Markets,' Backed by Strategic Divestments Elsewhere. Explicit About a realignment towards metropolitan Markets, about all in North America, at a time when they are also diversifying away.From CEMENT and Into Other MaterialsJaipur Stock. Just why a Leading Producer Should look to Build CaPacity in Serbia Warrants Investigation.
Serbia is the only Central Balkan Member of Cembureau, The EUROPEAN CEMENT Association. In a European Market Report for 2022, The Association Attributed THE THE InEnt's FASTEST DeClining CEMENT CONSUMPTION (Jointly with Slovakia), down by 11% year-on-year.Like The Rest of Europe, Serbia Is Also Gradually Shrinking, its population dwindling by 0.7% year-on-year to 6.62m in 2023, Which Limits for a Longer-Term Overy. Serbia remains the largest Country in the Central Balkans, with, with, with39% of the topal regional population.
Several Factors have compoundeded service. On coal. 50% of this coal origin in russia and ukraine in 2021, causion the entire operation to becesImperilled 'after the Former's BRUTAL Invasion of the Latter in February 2022, According to the Serbian CEMENT Inndustry Association. In Planning Terms, this was a case o f putting haLF One's Eggs in Two Baskets - and Dropping them Both.
Secondly, Serbia's Choice of Export Markets is Mainly Confined to Either The Eu or Global Markets Via The River Danube, Black Sea and Mediterranean. Either Way, IT I s in Competition with a CEMENT Exporting Giant: Türkiye. Serbia Sold € 19.7m-word ofCEMENT in the EU in 2023, up by 63% over the three-year period since 2020-31% Behind Türkiye's € 28.8m (More than double ites 2020 Figure). OUNTRY HAD A GREANCE on the EU Market: Bosnia & Herzegovina. It Exported € 48.4m-all of the cement there, quadruple ITS 2020 Figure and Behind Only China (€ 133M) and the uk (€ 54.7) in CEMENT s to the bloc by value.
Bosnia & Herzegovina's Cement Industry Underwent A Different Permutation At the Start of 2024: An Acquisition, Replacing One EU-Based Player with Another. LUKAV. AC CEMENT, Which Operates The 800,000t/YR LUKAVAC CEMENT PLANT PLANT IN TUZLA, Changed Hands from Austria-Based BuildingMaterials Producer Asamer Baustoffe to Hungery-Based Property Developer Talentis International Construction. Talentis International Construction Beluction Ary's Major Family-OWNED CONGLOMERATES, Mészáros CSOPORT.
BESIDES Central EUROPE, Balkan Countries have Found Found a Ready Source of Investments in the Past Decade in China. In Construction Alone, Chinese Investments Total I 13.2BN in Serbia, € 2.4BN in bosnia & Herzegovina, € 915m in Montenegro and € 650m in NorthMaceDonia.2 this can be a booster shopping to all-important domestic cement Markets, but has some risks. F CHINA began to call in € 847M Loan for Construction of the Still Upcoming A1 Motorway inThe Country's Northern Region. This did not put off the montenegrin government from signing a new memoryum of UndersTanding (mou) with China-Based SHANDONG Economic and Technical Cooperation and Shadong Luqiao Group for Construction of a New € 54m Coast Road in the Coastal Regionin MID-2023.
In Montenegro, UK-based private equity firm Chayton Capital is currently funding a feasibility study for a partly state-owned cement plant and building materials complex at the Pljevlja energy hub in the Northern Region. Along with an upgrade to the existing Pljevlja coal-firedPower Plant, The Project Will Cost € 700m.
In 2026, EU Member States Will Begin to Partly Tax Third-COUNTRY Imports of CEMENT and Other Products Against Their Specific CO2 Emissions, Progressing to the IMP Lementation of a 100% Carbon Border Adjustment Mechanism (CBAM) by 2034. Montenegro Led The Central Balkans'Preparations for the Eu's CBAM ROLL-OUT with the ITS OWN EMISSSIONG SYSTEM in Early 2021. 26, but Other Countries in the Region Have Struggled to Conceive of the Arrangement Except as part of Future EUAccession Agreements.
Based on the AVERAGE SPECIFIC CO2 EMISSIONS of CEMENT PRODUCED in the EU, The World Bank has Forecast that Exporters to the Bloc Will Be DisadaDAGED If Their SPECIFIC EMISSIONS Exceed 5.52kg CO2EQ/€ .3 by Contrast, Any Figure Below This OUGHT to Offeran increased competitive edge. Albanian Cement has average emissions of 4.71kg co2eq/€, 15% below 'biting point' and 13% Below Türkiye's 5.39CO2EQ/€. Al Bania's Government Consolidated ITS Anticipated Gains by Quintupling the Coal Tax for 2024 to € 0.15 0.15/kg. The Figure is based on the interior moneTary Fund's recomatended minimum co2 emissions tax of € 55.80/T, 21% shy of the Current Emissions TRADING Heme (ETS) Credit Price of € 70.49/T.4
The Central Balkans is a Region of Apparently Slow Markets and Industry Growth Regardless -to 11 CEMENT PLANTS, Follow the complex and upcoming Ects. A Recurrent theme of Capital Expendosition Investments and the Way Investors Talk About they help to explain this: Sustainability. Look at the mix of technologies in the current nine plants, the Include Wet Kilns and Fuels Lines built for conventional fossil fuels. E that Any Given Plant Might Not BE HAPPY ITS Existing Equipment as is. Nonetheless, the overallllPiction is of a set of veteran plants with scope to benefit from the kind of Investments Which All Four Global CEMENT PRODUCERS ACTIVE in The Region Are AliReadyLucknow Investment. gue elsewhere in Europ. Such Plans May Alream Be in Motion. In Late 2023, Titan Cement Group'sNorth Macedonian Subsidary Cementarnica USje Secured Shareholder Approval TAKE TWO NEW LOANS of UP TO € 27m Combined.
As the latest news from service, taking care of Existing Plants DOES NOT PRECLUDE ALSO Building New Ones. Position in the New Reduced-Co2 Global Cement Trade-One in Which OLD OLD and New Work TogetherThen, then
References
1. Trend Economy, ‘European Union -Imports and Exports - ArticleS of Cement,’ 28 January 2024,
2. American Enterprise Institute, 'China Global Investment Tracker,' 3 February 2024
3. World Bank Group, ‘Relative Cbam Exposure Index,’ 15 June 2023,
4. Ember, 'Carbon Price Tracker,' 26 August 2024,
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