Cement News tagged under: India
India: Burnpur Cement to invest INR5bn in capacity expansion05 May 2016, Published under Cement NewsIndian cement producer Burnpur Cement plans to invest INR5bn (US$75m) to expand its production capacity to 3Mta by 2020. "Presently, our installed capacity stands at 0.6Mta and we are planning to enhance the capacity to 3Mta in the coming 3-4 years," said the company's vice chairman and managing director, Ashok Gutgutia. Burnpur Cement currently operates two 0.3Mta plants – one in Asansol, West Bengal, and the other in Patratu, Jharkhand. The company plans to build a 2Mta greenfield works ... |
India: mining law changed to assist cement mergers03 May 2016, Published under Cement NewsThe upper house of India’s parliament on Monday approved an amendment to the mining law, allowing the transfer of mines from sellers to buyers in a victory for the State Bank of India (SBI) that had lobbied for the change. Mines Secretary, Balvinder Kumar, told Reuters the changes were mainly aimed at helping companies sell limestone mining licences along with their cement plants. It could also facilitate a merger of the Indian assets of France’s Lafarge and Switzerland’s Holcim after a... |
India: UltraTech’s profits rise to US$109m for 1Q1629 April 2016, Published under Cement NewsUltraTech Cement’s quarterly earnings statement for 1Q2016 show consolidated net profit growth of 10 per cent reaching INR7.23bn (US$109m) for the year to March, according to a report in Mint. Capacity utilisation was also higher in 1Q2016, rising by five per cent to 84 per cent. Volume sales rose by 15 per cent YoY, but revenues increased more slowly – by five per cent – due to declining prices. UltraTech’s EBITDA grew by just three per cent YoY despite improvements in cost efficiencies.... |
Ambuja Cements reports 4.4% profit fall29 April 2016, Published under Cement NewsIndia’s Ambuja Cements has reported a 4.4 per cent fall in net profit, which reached INR3.038bn (US$45.6m) in 1Q16. In the first quarter of 2015, net profit reached INR3.177bn. The company’s income has decreased by 0.89 per cent at INR25.809bn for quarter under review as compared to INR25.581bn for the quarter ended 31 March 2015. Net sales declined slipped by 0.3 per cent to INR24.18bn in 4QFY16 as against INR24.25bn in the corresponding quarter last year, according to a company statemen... |
India: government approval for new UltraTech plants at Nawalgarh and Jaitaran28 April 2016, Published under Cement NewsThe Jaipur government cleared the construction of a new 3.3Mta cement unit at Nawalgarh (Jhunjhnu) by UltraTech Cement Ltd. "Investment of worth INR3000 crore [INR30bn/US$451m] will be made and around 1000 people will get direct and indirect employment in this project. It will also set up new cement unit of 2.2Mta capacity and captive power plant at Jaitaran (Pali). The company will invest INR2100 crore and around 750 people to get direct and indirect employment," said the minister. |
Pakistan: Exports fall 24% in first nine months of 2015/1626 April 2016, Published under Cement NewsPakistan’s cement exports fell during 9MFY2016 on a YoY basis dropping by 24.4 per cent in volume terms and 28.9 per cent in US dollar values. Figures released by the Pakistan Bureau of Statistics (PBS) show that the country exported 4.6Mt of cement, earning revenue of US$248m during July-Mar 2016. This was down from the 6.0Mt exported in the corresponding period a year earlier. Average prices also fell, dropping 6.1 per cent to US$54.48/t. The All Pakistan Cement Manufacturers' Associ... |
UltraTech profits rise 10% in 1Q16, operational costs cut26 April 2016, Published under Cement NewsUltraTech Cement, India reported a 10 per cent YoY rise in consolidated profit after tax for the quarter ended March. The company reported a consolidated net profit of INR7230m (US$108.52m) against 6750m (US$98.63m) in the same period last year, due to a strong operational performance. Net sales in the same period rose 5 per cent to INR68.5bn, from INR65.17bn a year earlier. Total cement demand for the quarter, the company said, grew by 15 per cent. "The operating costs reduced with oper... |
Morgan Stanley: cement consumption to grow 4% YoY to 202025 April 2016, Published under Cement NewsNew research from Morgan Stanley predicts that worldwide cement demand excluding China has turned a corner and will grow at an annualised rate of four per cent between 2016 and 2020. The investment firm is particularly bullish about India, South Asia and sub-Saharan Africa, all of which it forecasts will see consumption grow by more than five per cent per year over the period (with Indian demand set to expand at 6.7 per cent). However, consumption in China is predicted to fall by 1.2 per ... |
India: Jaypee reduces northern cement supply22 April 2016, Published under Cement NewsDebt-laden Jaiprakash Associates Ltd has withdrawn itself from some of its cement markets in north India as part of streamlining its operations even as lenders continue to prod the firm to shed assets and pare debt, reports Mint. The company has drastically cut its cement supply to markets in the north, said two Delhi-based cement dealers. A spokesperson for the parent Jaypee Group confirmed that the company has chosen to withdraw from certain markets of Haryana and Delhi. "The com... |
India: Piramal invests US$38m in Gujarat cement company22 April 2016, Published under Cement NewsPiramal enterprises has invested US$38.4m in Sanghi Industries, a Kutch-based cement company with 4.1Mta capacity and plans to add a further 4Mta. Earlier in the month, Sanghi exited its corporate debt restructuring mechanism, having repaid US$40m. The firm’s capital expansion plans require a total of around US$165m. According to reports in the Hindu, the capacity addition will cost less than US$50/t. The expansion will take place at one of Sanghi's existing sites. The company has huge... |