Cement News tagged under: India
India: CREDAI to import Chinese cement03 April 2015, Published under Cement NewsFollowing the Telangana government's decision to impose a road tax on trucks from Andhra Pradesh and the spiralling hike of cement prices facing builders, the Confederation of Real Estate Developers' Association of India (CREDAI) is planning to import cement, particularly from China. With truck owners suspending their operations in protest of the new tax, cement shortages have been reported. "At present, the cost of a premium cement bag is INR365 in the retail market, and it is set to in... |
Lafarge and Holcim receive clearance from CCI on proposed merger02 April 2015, Published under Cement NewsHolcim and Lafarge yesterday announced they have received clearance from the Competition Commission of India (CCI) on their proposed merger. A package of asset divestments has been agreed with the CCI which involves the sale of the Sonadih cement plant and Jojobera grinding unit both owned by Lafarge. The two plants have a combined capacity total capacity of 5Mta and are situated in eastern India. The groups said in a joint statement that the divestment process will be carried out in the ... |
India: Jan-March demand seen weak01 April 2015, Published under Cement NewsNomura says its interactions with cement dealers across India suggest demand was weak in the January-March period because of lower use of cement by government-related projects, reports Dow Jones. However, recovery is anticipated going forward on expected increases in government spending. "This weakness can be attributed to lower spending by the government as it tried to meet its fiscal deficit target for FY15," says Nomura. Though volumes were weak in the first quarter of the calendar yea... |
Penna to construct Maharashtra grinding unit31 March 2015, Published under Cement NewsPenna Cement Industries to set up a cement grinding unit with a capacity of 0.7Mta at Daund, in the Pune district of Maharashtra. The estimated cost of the project is INR2bn (US$32m). Gannon Dunkerley Co will be the project contractor and Walchandnagar Industries has been awarded the contract for equipment supplier. |
Trinetra shareholders give green light for merger31 March 2015, Published under Cement NewsShareholders of Trinetra Cement Ltd have approved the scheme of amalgamation and arrangement between the company and Trishul Concrete Products Ltd with India Cements. “The Scheme was duly approved by the Secured Creditors of the Company with requisite majority," the company said in a filing to stock exchanges. India Cements announced in May last year that as part of restructuring, it planned to merge its subsidiary Trinetra Cement Ltd and sell land near its plants in Tamil Nadu and... |
Dalmia commences trial operations of Karnataka plant31 March 2015, Published under Cement NewsDalmia Cement (Bharat) Ltd, a subsidiary of Dalmia Bharat Ltd, has commenced operations at its new 2.5Mta cement plant in Belgaum, Karnataka, on 23 March 2015 and has now started trial production. Commissioning of the Belgaum plant will take Dalmia Bharat Group's total installed capacity to 24Mta. |
Dalmia Cement (Bharat) reports rise in 3Q volumes23 March 2015, Published under Cement NewsDalmia Cement (Bharat) Ltd announced its financial results for the quarter ended 31 December 2014, reporting a YoY increase in volumes and income. Income rose to INR7.94bn from INR7.07bn in 3Q14, led by a six per cent rise in volumes to 1.65Mt and a nine per cent increase in sales realisations. Power and fuel costs came down by 16 per cent per cent on a per tonne basis but were offset by increased freight costs and an increase in raw material costs for the north east operations. Efficienc... |
JSW may shelve Gulbarga investment, India20 March 2015, Published under Cement NewsJSW Cement planning to shelve its plan to set up a 3Mta clinker plant at Chittapur in Gulbarga, Karnataka district, temporarily as the company's short-term goal is to ensure that its Andhra Pradesh plant reaches full capacity, the Times of India (TOI) reported citing a senior company official. JSW Cement currently runs three plants Nandyal unit (4.8Mta) in Andhra Pradesh, Vijayanagar unit (0.7Mta) in Karnataka and Dolvi unit (0.7Mta) in Maharashtra. While its Vijayanagar and Dolvi pla... |
Reliance to sell part of cement division?19 March 2015, Published under Cement NewsReliance Infrastructure, part of the Anil Ambani-led Reliance Group, may sell half of its cement business to fund the acquisition of Pipavav Defence and Offshore Engineering. Reliance Cement is in talks with Heidelberg and Italcementi, and has offered a 50 per cent stake in the company, according to a report published yesterday by Business Standard (India). The prospective joint venture partner will also fund the company's cement capacity expansion - estimated to rise from 5Mta to 15Mta by... |
Indian joint venture on the cards?17 March 2015, Published under Cement NewsThe Jaypee Group is in talks with HeidelbergCement and JSW Cement, to form a joint venture which will control the majority of its cement plants as part of an ongoing exercise to reduce debt, the Economic Times of India reports. The plan envisages a separate joint venture entity which will house around 20-22Mta of Jaypee’s operational units spread across Uttar Pradesh, Himachal, Uttarakhand, Andhra Pradesh, Chattisgarh and a new greenfield unit in Karnataka, which is expected to come on-stre... |