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    Adbri's (ASX:ABC) Kwinana Upgrade Project progresses with $240M investment

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    Adbri said the Kwinana Upgrade Project, a strategic investment to consolidate cement production sites, remains on track with $240 million invested by Nov. 30.

    The project is expected to conclude within the estimated capital cost of $385 million to $420 million, with commissioning of key equipment starting in the second quarter of 2024.

    Once completed, the Kwinana plant will operate at a significantly lower cost per tonne, reducing emission intensity by approximately 20%.

    Adbri anticipates 2023 underlying EBITDA from $310 million to $315 million, exceeding the half-year outlook. Capital expenditure in 2023 is expected to be $310 million to $320 million, lower than the initial estimate.

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