Steppe Cement Ltd (STCM): Clinker line 6 capacity expansion

This situation live

STCM Steppe Cement Ltd

£91m · 38.5p · +103% since the first step

15 Jan 2026 · Decided; debt financing and EPC contractors pending · +2% until the next step The Project is expected to take 18 months and to be completed in the summer of 2027.

15 Jan 2026 · Decided; costed at USD 35m; financing and contractors pending · +2% until the next step The Project is expected to take 18 months and to be completed in the summer of 2027.

10 Apr 2026 · Implementation started; 80 contractors on site · +17% until the next step The Company has started implementation of the Project and aims to increase production by 0.5 million tonnes by Summer 2027.

9 Sep 2026 · Contracts signed, structural works started, cash-funded · +69% until the next step Commissioning remains planned for summer 2027 after a 3-month shutdown of line 6.

16 Oct 2026 · Under construction, on time and budget, funded · −7% since The expansion project continues on time and budget with funding in place.

Project milestones

Clinker line 6 capacity expansion

Under construction, on time and budget, funded

Next: Line 6 back-end filter due October 2026; commissioning summer 2027

Every step · 5

15 Jan 2026 Decided; debt financing and EPC contractors pending – The Project is expected to take 18 months and to be completed in the summer of 2027. ↗
15 Jan 2026 Decided; costed at USD 35m; financing and contractors pending – The Project is expected to take 18 months and to be completed in the summer of 2027. ↗
10 Apr 2026 Implementation started; 80 contractors on site – The Company has started implementation of the Project and aims to increase production by 0.5 million tonnes by Summer 2027. ↗
9 Sep 2026 Contracts signed, structural works started, cash-funded – Commissioning remains planned for summer 2027 after a 3-month shutdown of line 6. ↗
16 Oct 2026 Under construction, on time and budget, funded – The expansion project continues on time and budget with funding in place. ↗

What is happening

Steppe Cement Ltd: Clinker line 6 capacity expansion – Under construction, on time and budget, funded. ['Under construction, on time and budget, funded']

In short: The USD35m project to lift capacity to 2.5Mt was decided in January 2026. By H1 2026 all contracts were signed and structural works had started, funded from cash flow rather than debt. The Q3 update says it remains on time and budget with funding in place. Commissioning is still due summer 2027.
Announced: 15 Jan 2026 · Decided; debt financing and EPC contractors pending
Latest: 16 Oct 2026 · Under construction, on time and budget, funded
Next milestone: Commissioning summer 2027 after 3-month shutdown of line 6; back-end filter due October 2026
Funding: From cash flow, not the originally envisaged debt
Size: USD 35 million
Progress: All contracts signed; structural works started in most areas; more than 250 workers on site
Currency hedge: Contracts mostly in USD; exposure hedged by keeping USD deposits
Status: On time and budget, funding in place (Q3 2026 update)

What comes next

Line 6 back-end filter due October 2026; commissioning summer 2027.

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