Cement News tagged under: india
UltraTech and private equity firms in talks to buy Emami Cement assets28 June 2019, Published under Cement NewsEmami Group is reportedly holding talks with UltraTech Cement and private equity firms KKR and Temasek Holding to sell assets from its cement business, Emami Cement, which is valued at INR50bn (US$725.4m). The Kolkata-based company is looking to reduce debt and concentrate on its core business. The group is still deciding on whether to fully exit the cement business or simply reduce its stake by disposing of some of its assets, according to the Economic Times. Meanwhile, its cement business... |
WBCSD and key cement producers launch Indian roadmap27 June 2019, Published under Cement NewsMajor companies from the cement sector and the World Business Council for Sustainable Development (WBCSD) launched the ‘Indian Cement Sector SDG Roadmap’ on 25 June at an event organised by WBCSD and UN Global Compact Network India. The UN’s Sustainable Development Goals (SDGs) represent a universal framework that establishes a collective pathway for humanity to achieve prosperity for people and planet on the road to 2030. While governments have universally resolved to implement the SDGs, ... |
Demand for coal from India's cement sector rises in FY18-1927 June 2019, Published under Cement NewsIndia’s coal demand increased 9.1 per cent YoY to 991.35Mta during the fiscal year ended March 2019, according to the country’s Coal Minister, Pralhad Joshi. However, India’s supply shortfall more than doubled to 23.35Mt. This has been attributed to Coal India’s inability to meet demand from the cement and sponge iron industries. Demand from the cement sector surged 70 per cent to 37.22Mt in the FY18-19. In the FY18-19 coal imports rose 12.9 per cent YoY to 235.24Mt from 208.27Mt. Mr J... |
Rise in India's cement prices falters18 June 2019, Published under Cement NewsCement price rises in India, which started in India, have started to reverse, according to LiveMint. In June average prices fell to INR361 (US$5.17)/50kg bag, down by INR7, according to Kotak Institutional Equities Ltd. Price reductions were mainly led by southern and western Indian companies, which reduced prices by INR8-11/bag MoM. The fall in prices can be attributed to a drop in demand in June. While in April volumes increased one per cent YoY to 28.7Mt, throughout the April-June q... |
UltraTech Cement appoints Sujeet Jain as chief legal officer18 June 2019, Published under Cement NewsSujeet Jain, group general counsel and company secretary of Viacom18, has joined UltraTech Cement as chief legal officer in Mumbai. A graduate of GLC Mumbai, he began his career at Thakkar and Thakkar Advocates before moving to Hutchison Telecom. In 2005 he joined People Group and three years later, Viacom 2008. |
UltraTech Cement receives approval for 6Mta plant project11 June 2019, Published under Cement NewsIndia’s UltraTech Cement has received environmental approval to set up a INR25bn (US$360.37m) project in Petnikota village, Andhra Pradesh. The integrated facility is expected to have a clinker capacity of 4Mta and 6Mta of cement. Alongside the cement works, the company also plans to install a 60MW captive power plant and 15MW waste heat recovery unit. It has already acquired 431.92ha of land but still requires ‘consent to establish and operate’ from the state’s pollution control board, ac... |
Gujarat launches pilot air pollutant permit cap and exchange mechanism07 June 2019, Published under Cement NewsIndia has launched the world's first trading programme for particulate air pollution quotas. The western state of Gujarat piloted the scheme on 5 June involving some 350 industrial plants in Surat, including cement plants. The trading programme has been devised by academic experts, including Anat Sudarshan from the University of Chicago and Nicholas Ryan from Yale University. The government will cap the total amount of air particulate matter than can be emitted over a period of time by all ... |
Sagar Cements reports rise in cement production for May07 June 2019, Published under Cement NewsIndia’s Sagar Cements has reported a 12.9 per cent YoY rise in consolidated cement production in May 2019, increasing to 277,146t from 245,454t in the year-ago period. Standalone production advanced 9.2 per cent to 201,241t, compared with 184,278t in May 2018. Meanwhile, sales climbed 13.3 per cent YoY to 275,330t in May 2019. |
Calcar Products to begin work on new grinding unit06 June 2019, Published under Cement NewsIndia's Calcar Products is expecting to begin Phase I of its new cement grinding unit project this month. The facility will be set up in two phases at Bhupdeopur village of Raigarh district, Chhattisgarh, with each phase representing 0.33Mta of cement capacity. Th estimated investment cost for Phase I is INR420m (US$6.06m) and INR330m for Phase II. The project is due for completion in the first half of 2020. |
Penna Cement secures approval for IPO04 June 2019, Published under Cement NewsIndia’s Penna Cement Industries Ltd has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering (IPO). The company’s proposed IPO size is INR15.5bn (US$223.7m), with the offer comprising of fresh shares worth INR13bn and INR2.5bn of shares from the promoter, PR Cement Holdings Ltd. The company is expected to use INR10bn of the fresh net proceeds to repay or make advance payment of its debt besides using an undisclosed amount towards gene... |