Cement News tagged under: India
ACC resumes Chaibasa mining operations, India11 February 2015, Published under Cement NewsACC has resumed limestone mining operations at the captive mines of its Chaibasa cement plant in Jharkhand in eastern India, the company informed the exchanges. The Holcim group company had suspended mining activities temporarily in October at its plants in Chaibasa in Jharkhand and Bargarh in Odisha follwing a Supreme Court order. However, ACC resumed its operations after the government promulgated the mines and minerals (development and regulation) ordinance 2015 last month. |
Mangalam Cement gets grinding go-ahead10 February 2015, Published under Cement NewsMangalam Cement’s board of directors have approved the construction of a new grinding plant in the northern Indian state of Uttar Pradesh. The company informed the Bombay Stock Exchange that at a meeting on 9 February 2015, the board gave the green light to a 0.5Mta facility to be set up in Aligarh. |
Wonder Cement to double capacity, India04 February 2015, Published under Cement NewsIndia-based Wonder Cement, part of the RK Marble Group, plans to more than double capacity by year-end. The company, which operates a 3.35Mta cement works in Nimbahera, in the northern Indian state of Rajasthan, is investing INR1600 crore to lift capacity to 6.75Mta. The state-of-the art plant, built by ThyssenKrupp Industrial Solutions, is currently running at full capacity, selling some 180 000 bags/day. Wonder Cement is expanding its dealer network, which is already present in key mark... |
ACC reports 19% rise in 4Q14 profit04 February 2015, Published under Cement NewsACC, India’s second-largest cement manufacturer, reported a 19 per cent jump in profit in the October-December quarter, driven mainly by a substantial tax reversal. Net profit rose to INR3.26bn in the three months ended 31 December from INR2.75bn a year ago, the company said in a filing to the Bombay Stock Exchange. The tax reversal for the quarter stood at INR1.8435bn against a reversal of INR358.5m in a year ago. The Holcim group company said net sales increased by three per cent to I... |
UltraTech Cement03 February 2015, Published under Cement NewsFollowing its acquisition last month of two cement plants and related power assets from Jaiprakesh Associaties Ltd in Madhya Pradesh, UltraTech Cement Ltd has announced further expansion plans including two greenfield grinding units in Bihar and West Bengal. The new plants, which will add 3.2Mta capacity, will enable UltraTech to take advantage of the predicted upturn in cement demand in India. According to the government, the combination of 5.5 per cent economic growth in 2015 and a kick... |
India Ratings reaffirms Long-Term Issuer Rating to HeidelbergCement India28 January 2015, Published under Cement NewsCredit rating agency India Ratings and Research has reaffirmed Long-Term Issuer Rating of 'AA-' with stable outlook to the HeidelbergCement India. The rating indicates the high degree of safety regarding timely servicing of financial obligations and very low credit risk. HeidelbergCement Inida has production facilities at Damoh (Madhya Pradesh state), Jhansi (Uttar Pradesh), Ammasandra ( Karnataka) and Cochin (Kerala), and markets its products under the brand name Mycem across the various... |
UltraTech quarterly revenue rises 15% YoY26 January 2015, Published under Cement NewsIndia's largest cement producer, UltraTech Cement, reported a 15 per cent YoY increase in net sales for the quarter ended 31 December 2014 to INR54.9bn. Earnings before interest depreciation and tax for the three months was up 14.5 per cent to reach INR9.9bn, but profit after tax (PAT) dipped 1.6 per cent to INR3.64bn, compared to the same period of last year. For the first nine months of the current fiscal, revenues jumped 16 per cent and PAT rose seven per cent. Combined domestic ce... |
India: production begins at JK Lakshmi's Durg plant22 January 2015, Published under Cement NewsJK Lakshmi Cement has started production of its 2.7Mta cement works in Durg, Chattisgarh state, central India. The greenfield works, which will manufacture various types of cement including OPC, PPC and slag cement, began production earlier this week, according to a company statement. The new plant boosts JK Lakshmi’s total installed capacity to 9.3Mta. The start-up of the Durg plant is in line with Prime Minister Narendra Modi’s "Make in India" initiative to boost economy and growth of ... |
Lafarge to buy back Baring stake in Indian unit21 January 2015, Published under Cement NewsLafarge India is reportedly buying back the 14.03 per cent stake it sold to global private equity investor Baring Private Equity Asia in 2013. Through its wholly-owned subsidiary Paris Cement Investment Holdings, Barings Asia acquired a 14.03 per cent stake in Lafarge India for EUR200m. According to local press reports, the share agreement with the PE fund is said to have a clause which triggers a buyback case in case there is any change in the shareholding structure. With Lafarge and Holc... |
Sanghi Industries invests in energy, port development21 January 2015, Published under Cement NewsSanghi Industries is to invest in a 15MW waste heat recovery (WHR) system at its cement plant in Kutch, Gujarat, as part of the company’s drive to enhance efficiency and reduce its carbon footprint. Explaining the company’s strategy, Alok Sanghi, Director of Sanghi Industries Ltd said: “Our focus is on increasing efficiencies at our manufacturing facilities as well as reducing our carbon footprint by cutting down on pollutants that affect the environment.” Sanghi has signed a contract for... |