Cement News tagged under: India
RHI Magnesita announces Indian merger03 August 2018, Published under Cement NewsRHI Magnesita has announced a merger between its three companies in India, Orient Refractories, RHI India and RHI Clasil. Upon completion, the move will consolidate the group’s position in the Indian market to allow it to tap into its growth potential more effectively, according to a press release. While subject to regulatory approval, the merger is expected to be completed within the next 9-12 months. The combined company expects an operating revenue of INR12,356m (US$182.23m) on a profor... |
Supreme Court exempts cement industry from petcoke import ban01 August 2018, Published under Cement NewsIndia’s Supreme Court has finalised a ban on petcoke imports with exemptions for some key industrial users, including the cement sector. In a ruling released this weekend, the court agreed to put into place recommendations from the court-appointed Environment Pollution Prevention & Control Authority (EPCA) to limit imports only to those industries using coke as a feedstock or in the manufacturing process, not as a fuel. The EPCA had listed those industries as cement, lime kilns, calcium c... |
Ambuja reports 27% rise in standalone net profit26 July 2018, Published under Cement NewsIndia’s Ambuja Cement has reported a 27.3 per cent YoY increase in standalone net profit for the quarter ended 30 June, rising to INR4.99bn (US$72.62m) from INR3.92bn. Net sales advanced 3.9 per cent to INR29.27bn, compared to INR28.17bn of the year-ago period. "Ambuja is well positioned to benefit from the upsurge in rural demand and the encouraging external environment," said Ajay Kapur, managing director and CEO, Ambuja Cement. However, the company has recorded a 5.1 per cent fall i... |
ACC announces 11% YoY revenue increase in 2Q1824 July 2018, Published under Cement NewsIndia’s ACC Ltd has announced an 11 per cent YoY rise in revenue to INR38.48bn (US$557.85m) in the 2Q18, while EBITDA advanced 10 per cent to INR5.4bn. Profit remained largely flat, however, showing growth of one per cent to INR3.26bn. Cement volumes increased 7.4 per cent to 7.2Mt in the period, with a positive outlook for demand forecast for the rest of 2018. "The economic upswing in 2018 supported by buoyant consumption, a normal monsoon and uptick in rural demand is expected to bene... |
Orient Cement plans Telangana expansion23 July 2018, Published under Cement NewsIndia’s Orient Cement Ltd has received the first stage of environmental clearance for its INR20bn (US$291m) project to expand its Telangana facility. Construction to increase capacity from 3.05Mta to 7.5Mta is expected to commence within four months, once it has received the final clearance from the Ministry of Environment, Forest and Climate Change (MoEF). Deepak Khetrapal, managing director of Orient Cement, has requested the state’s minister for IT and industries to consider the provis... |
UltraTech to complete Century Textiles deal by February23 July 2018, Published under Cement NewsUltraTech will issue 14m new equity shares to the shareholders of Century Textiles and Industries, which will increase its equity capital to INR2.8bn (US$42m). The deal is expected to be completed before February 2019. The acquisition will make UltraTech (inluding its overseas operations) the world's third-largest cement maker outside of China. Khaitan & Co advised Aditya Birla Group's UltraTech on structuring its acquisition of the cement business of BK Birla group's Century T... |
JSW Cement to construct 1Mta facility in UAE20 July 2018, Published under Cement NewsIndia’s JSW Cement has announced plans to invest US$150m to construct a 1Mta clinker unit and captive power plant in Fujairah, UAE. The project is part of the company’s target to reach a capacity of 20Mta by 2020 and will be conducted through its wholly-owned subsidiary, JSW Cement FZE. "Our plans to establish this clinker unit reaffirms JSW Group’s commitment to stay invested in Fujairah. JSW Group has long-standing business relationships in UAE and specifically in Fujairah through our in... |
UltraTech's 2Q18 sales rise by 27%19 July 2018, Published under Cement NewsUltraTech Cement Ltd's unaudited financial results for the quarter ended 30 June 2018 reported net sales of INR88.4bn (US$1.28bn), up 27 per cent from INR69.3bn of the previous year. Profit before interest, depreciation and tax (EBITDA) was INR17630m when compared with INR17980m in the corresponding period of the previous year. Sales volume jumped 34 per cent over 1QFY18. The company achieved an operating EBITDA of INR929/t as compared to INR922/t in 4QFY18, despite the hike in fuel prices... |
Bharathi Cement releases robotically-produced cement18 July 2018, Published under Cement News'Bharathi Ultra Fast' is a new multi-purpose cement produced by Bharathi Cement company (Vicat group) in India. The premium quality cement has just been launched and it promoted 'greener' costruction by being produced with robotic technology. Bharathi Ultra Fast has been developed for engineers and masons for all concrete applications with several advantages over OPC53 cement. It features a high setting time, higher first-day strength, higher 28-day strength, unmatched durability and bett... |
Bharathi Cement to build two new plants16 July 2018, Published under Cement NewsHyderabad-based Bharathi Cement is aiming to strengthen its presence in western and eastern India with new plants and products, according to The Economic Times. The Indian cement producer is planning two new cement plants in Vizag and Mumbai in the next 2-3 years. “The two plants can cater to the demand in eastern and western parts of the country,” said Ravinder Reddy, Bharathi’s marketing director. He also said the company will next launch an environmentally-friendly composite cement... |