Cement News tagged under: India
India Cements board approves funding proposal29 December 2014, Published under Cement NewsThe Board of India Cements has approved a proposal to raise INR500 crore through qualified institutional placements or foreign currency convertible bonds to meet capital expenditure, a senior company official has said. "The Board has approved the proposal for raising an amount not exceeding INR500 crore by way of issue of QIP/FCCB/GDR or other Securities to improve the leverage and for meeting normal capital expenditure," N Srinivasan, vice chairman and managing director of India Cements ... |
Holcim and Lafarge select future executive committee24 December 2014, Published under Cement NewsHolcim and Lafarge have selected the future executive committee to head the combined company after completion of the merger. In the new set-up, Bruno Lafont, as CEO, will head up a project team of 10 seasoned managers who will lead the transition until the completion of the merger. Once the merger is finalised, the members of this project team will be officially appointed members of the Executive Committee of the proposed combined company by the future Board which will be chaired by Wolfgang... |
UltraTech Board approves Jaiprakash Associates MP acquisition24 December 2014, Published under Cement NewsThe Board of Directors of UltraTech have approved in principle the acquisition of the Madhya Pradesh assets of Jaiprakash Associates Ltd, which represents an entreprise value of INR54bn (US$852m). The acquisition includes an integrated cement plant with a clinker capacity of 2.1Mta and a cement capacity of 2.6Mta in Bela and an integrated unit at Sidhi with clinker and cement capacities of 3.1Mta and 2.3Mta, respectively. The deal also covers a 180MW thermal power plant complex of which 1... |
India: CMA calls for lower tax on cement24 December 2014, Published under Cement NewsIndia’s Cement Manufacturers Association has urged the government to lower the overall tax on cement by 20-25 per cent. In a pre-Budget representation, the industry body said despite being a core industry, overall taxes hover around 60 per cent, comparable with luxury goods while other key industries such as coal and steel are subject to considerably lower tax rates. Excise duty is levied at 12 per cent apart from an additional INR120/t, while duty on other core items is around five per c... |
India Cements: INR370kg/bag isn't viable23 December 2014, Published under Cement NewsProducing cement in southern India at the current price of around INR370 (US$5.83)/50kg is not viable, according to N Srinivasan, India Cements' vice-chairman and MD. Against a background of falling demand, interest, freight and other manufacturing costs were steadily increasing, pushing cement producers into losses. “Cement is treated as a commodity, but it is actually a manufactured product but doesn’t get the benefits of a manufactured product,” he said. “Over the last eight years, ... |
UltraTech reportedly in talks to buy further Jaiprakash units19 December 2014, Published under Cement NewsUltraTech Cement is in talks to acquire Jaiprakash Associates Ltd's cement plants in central and southern India, people with knowledge of the matter have told local press. The company is discussing the purchase of cement plants in the Indian states of Uttar Pradesh, Madhya Pradesh and Andhra Pradesh, the sources told Mint News. Last year, UltraTech purchased Jaiprakash’s cement plant in Gujarat which has a capacity of 4.8Mt. |
Dalmia launches in Jharkhand market, India19 December 2014, Published under Cement NewsDalmia Cement Bharat Limited (DCBL) has entered the Jharkhand market in eastern India which it will serve through the 2.1Mta Bokaro cement plant. Amandeep, business head and director of BoJCL said, "Bokaro cement plant is being benchmarked to global thresholds of manufacturing excellence in producing Portland Slag Cement (PSC) under Dalmia Cement brand name. Eastern India is a highly promising market with sufficient cement demand. With our state-of-the-art plant at Bokaro, we will ens... |
Siemens surpasses motor milestone with UltraTech order17 December 2014, Published under Cement NewsSiemens Limited announced that it has surpassed a key milestone in manufacturing and delivering International Efficiency (IE) class industrial motors by handing the 100,000th motor to UltraTech Cement Ltd. in India. This translates to energy savings of 300GWh, which is equivalent to the power required by 80,000 average Indian households for an entire year, since the launch of the motors in January 2012, Siemens said in a statement. Siemens Ltd was the first company in India to launch local... |
Sludge dispatched to Ariyalur plants for use as raw material17 December 2014, Published under Cement NewsThe Pollution Control Board of the Indian state of Tamil Nadu has dispatched 20,000t of sludge generated by textile units in the SIPCOT Industrial Estate in Perundurai to cement units in Ariyalur district for use as raw material. The cement industries are understood to have started accepting industry effluent treatment plant (ETP) sludge from the dyeing industry after success of a trial run that indicated no variation in the strength and quality of cement. Since the lime content in slud... |
UltraTech re-evaluating Brazil asset bid11 December 2014, Published under Cement NewsIndian cement major UltraTech Cement is reportedly re-evaluating its decision to bid for the Brazilian assets put on the block by Holcim and Lafarge ahead of their planned merger. According to local press reports, the Aditya Birla company had submitted non-binding bids for the cement assets in October, after which binding bids are due in January. The company is now said to be “rethinking about the bids” and UltraTech Cement may “pull back at the binding stage,” sources familiar with the m... |