Displaying items by tag: road

Fiji: New Zealand-based Fletcher Building has agreed to sell its 50% stake in construction firm Higgins Holdings Fiji to Fiji National Provident Fund (FNPF) and Fijian Holdings for US$12.3m. BusinessDesk News has reported that the parties expect to complete the deal by early July 2024. The transaction includes a non-cash impairment of US$9.2m on the business.

Fletcher Building’s acting CEO Nick Traber said "We believe the partnership positions the business well to continue to play an important role in Fiji, focused on infrastructure development.”

FNPF CEO Viliame Vodonaivalu said “This co-investment not only diversifies our investment portfolio, but also creates mutual benefits for the fund in complementing our unlisted property portfolio and development pipeline. We are proud to collaborate with Fletcher, a longstanding leader in Fiji’s construction sector since 1971, renowned for their quality and dependable services. With a workforce of 700 Fijians, Fletcher stands as the largest construction company in Fiji, highlighting their corporate strength and reliability in the industry.”

Russia: Belarus-based Belarusian Cement Company plans to establish a building materials production and logistics hub in Moscow. Among other materials, the hub will produce dry mixes using cement imported from Belarus, as well as producing ready-mix concrete, autoclaved aerated concrete (AAC) blocks and reinforced concrete goods. Business World News has reported that the facility will be equipped with rail and road terminals.

Belarusian Cement Company said "The creation of this facility will secure permanent availability of Belarusian Cement Company products directly in the sales region and will enable more advantageous logistic conditions for Russian partners. Belarusian Cement Company will be able to significantly expand its capabilities for delivering products to consumers that have no access to the railway grid and will be able to introduce a more convenient and accessible level of client service."

Germany: An activist or activists have claimed responsibility for starting a fire that engulfed five trucks, multiple cement silos and part of a building at a Cemex Deutschland ready-mix concrete batching plant in Kreuzberg, Berlin, Zeit Online News has reported.

In a statement posted on news website Indymedia DE, the purported culprit(s) claimed that they targeted the plant for its involvement in supplying concrete for the A100 road expansion project in Berlin. Additionally, the statement alleged that Cemex has supplied concrete for illegal Israeli military checkpoints in Palestine, for which reason the self-proclaimed arsonists chose to target the group’s German subsidiary.