International Cement Group Opens Third Plant in Kazakhstan; Shares Surge 11%

MT Newswires

2024/11/19

International Cement Group or ICG (SGX:KUO) opened Korcem, the group's fourth integrated cement plant, according to a Monday filing with the Singapore Exchange.

Located in Korday District in Kazakhstan's Jambyl Region, Korcem is ICG's third cement plant in the country and will add 1.5 million metric tons to the group's annual production capacity.

With this, ICG will have a total annual capacity of 3.7 million metric tons across its three cement plants in Kazakhstan.

The total investment cost for the Korcem plant exceeds $153 million.

Shares of the cement maker surged over 11% in recent trading.

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