Cement News tagged under: India
Sanghi Industries announces changes at the top11 December 2023, Published under Cement NewsIndia-based Sanghi Industries Ltd has announced a number of resignations from its board of directors. Ravi Sanghi tendered his resignation as chairman and managing director, with effect from 7 December 2023. Also resigning from the company are executive directors, Aditya Sanghi, Alok Sanghi, Bina Mahesh Engineer, Nirubha Balubha Gohil, along with the following independent directors: Sundaram Balasubramanian, Raina Dilip Desai, Arvind Motilal Agarwal and Gurudeo Yadwadkar. With effect from t... |
Adani Cement acquires Sanghi Industries in west coast expansion06 December 2023, Published under Cement NewsAdani Cement Ltd has secured a 54.51 per cent stake in Sanghi Industries and will look to harness operational synergies from this acquisition, according to the company. The primary objectives for the acquisition include boosting efficiency, minimising costs, and fostering a sustainable approach to cement production. Sanghi Industries’ expansive Sanghipuram integrated manufacturing plant spans 2700ha, making it India's largest single-location cement and clinker production facility. The... |
UltraTech Cement to acquire Kesoram Industries Ltd's demerged cement business01 December 2023, Published under Cement NewsKesoram Industries Ltd has decided to demerge its cement business and has approached UltraTech Cement Ltd in relation to the same. The Board of Directors of UltraTech, after considering the recommendation and report of the Audit Committee and the Committee of Independent Directors, at its meeting held on 30 November 2023, considered Kesoram’s proposal and have approved a Composite Scheme of Arrangement to demerge Kesoram's cement business into Ultra Tech Cement. |
Burnpur Cement Ltd acquisition increases UltraTech Cement's capacity30 November 2023, Published under Cement NewsUltraTech Cement has acquired a 0.54Mta cement grinding assets of Burnpur Cement Ltd, located at Patratu in Jharkhand, India, at a consideration of INR169,790m. This investment marks the company’s entry in the state of Jharkhand. With this acquisition, UltraTech Cement's capacity in India now stands at 133Mta. |
UltraTech Cement eyes up Kesoram Industries27 November 2023, Published under Cement NewsUltraTech Cement has reportedly expressed an interest in acquiring Kesoram Industries and is already carrying out due diligence on the company. According to CNBC, UltraTech is exploring two options: buying out the existing promoter or just acquiring the cement business of Kesoram. Kesoram currently operates in two markets, cement and rayon, with a cement production capacity of close to 10Mta across Karnataka and Telangana . Current shareholders in Kesoram Industries are the existi... |
Suitors line up for Vadraj Cement22 November 2023, Published under Cement NewsJSW Cement , the Adani Group , and the ArcelorMittal Group are among the entities expressing an interest in acquiring India’s Vadraj Cement , according to Construction World. Vadraj Cement, which is owned by the ABG Shipyard group, is being sold under the Insolvency and Bankruptcy Code (IBC) process. After the cement company was sued by trade creditor Beumer Technology India in August 2018 to recover unpaid debts, the Bombay High Court ordered the company to be wound up. Following lon... |
India: riding the growth wave21 November 2023, Published under Cement NewsIndia, the world’s second-largest cement market, has demonstrated strong resilience and recovery since the COVID-19 pandemic. The country is now on course for a higher, sustainable demand trajectory and the cement sector is adding fresh capacity as it prepares to ride this new, long-awaited growth wave. The Indian cement industry is at the start of a new chapter as all the key factors align for higher, sustainable growth prospects (© Ganeshkumar Durai) India is set to retain ... |
Shree Cement pledges to boost share of premium products16 November 2023, Published under Cement NewsShree Cement plans to expand the share of premium products as part of its total sales to 12 per cent over the next six months. This compares to just 9.5 per cent in the 2QFY23-24. According to the company, this will be achieved through the “right pricing”, reports The Hindu Business Line. In the 2QFY22-23, premium products accounted for 7.5 per cent of trade sales. “Regarding premiumisation, our focus is on the right pricing. The volumes will come later,” says Hari Mohan Bangur, chai... |
Business models for utilisation of non-recyclable plastics in the Indian cement industry15 November 2023, Published under Cement NewsCo-processing of plastic and other municipal solid wastes provides a safe and cost-effective way of dealing with waste in India and supports the country’s drive to adopt a circular economy approach. By Dr Gaurav Bhatiani, Research Triangle Institute (RTI), India, and Dr Kåre Helge Karstensen and Palash Kumar Saha, SINTEF, Norway. Of the total amount of collected waste in India, 19 per cent is sent to landfill sites such as the Okhla landfill in Delhi (© Research Triangle Institute... |
JK Lakshmi Cement prepares for calcined clay cement production15 November 2023, Published under Cement NewsJK Lakshmi Cement Ltd is poised to become the first cement company in India and across Asia to start commercial production of Portland calcined clay limestone Cement (IS 18189:2023) or LC3. This is a milestone achievement since most of the cement will be supplied to Noida International Airport (NIA). This will reduce the carbon footprint of the airport project which is in collaboration with Zurich Airport International AG with their EPC as TATA Projects Ltd. This initiative aims to combine... |