Cement News tagged under: India
Jindal Group to expand cement capacity to 7Mta23 October 2024, Published under Cement NewsJindal Group is expanding its cement grinding capacity to 7Mta by commissioning a 1.5Mta cement grinding unit in Odisha, India. In a statement, the group said, "Its arm Jindal Panther Cement (JPC) has commissioned the first cement grinding unit with a capacity of 1.5Mta, reinforcing commitment to low-carbon cement production. The facility will utilise about 1Mta of blast furnace slag." The grinding unit is designed with low-carbon technologies and uses slag to produce cement. The facilit... |
Adani group acquires Orient Cement22 October 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire Orient Cement Ltd at the equity value of INR81bn (US$963.4m). This binding agreement set Ambuja to acquire a 46.8 per cent stake in Orient Cement. This acquisition will add 16.6Mta capacity, accelerating Ambuja’s journey to an operational capacity of over 100Mta in FY24-25. The target capacity of the group is 140Mta by 2028. This acquisition will provide an additional capacity of 6Mta in north India, leveraging Orient Cemen... |
UltraTech Cement reports a slight decrease in performance22 October 2024, Published under Cement NewsUltraTech Cement Ltd has released their quarterly performance for the 2QFY25. Consolidated net sales was at INR153.08bn (US$1.82bn) compared to INR157.35bn in the same period a year previous, reflecting a 2.7 per cent decrease. EBITDA was at INR22.39bn, a 17.6 per cent decrease YOY from INR27.18bn. Profit after tax also saw a decrease, falling 35.9 per cent YoY from INR12.81bn to INR8.20bn. With this report, UltraTech have also presented some of the highlights despite what they hav... |
Dalmia Bharat reports decline in profits21 October 2024, Published under Cement NewsDalmia Bharat Ltd has reported a 60.1 per cent decline in consolidated net profits to INR490m (US$5.8m) for the September quarter due to a decline in cement prices. The company had posted a net profit of INR1.23bn for the same period last year. In this period, the company has noted that operations are also down 2.09 per cent to INR3.08bn from INR3.15bn in the previous year. Sales volume was up by 14.1 per cent to 6.7Mt YoY. Dalmia Bharat’s CFO, Dharmender Tuteja, said, “We delivere... |
UltraTech Cement expands capacity to 156Mta17 October 2024, Published under Cement NewsUltraTech Cement , the cement flagship of the Aditya Birla Group, has announced the completion of a significant capacity expansion, bringing its total cement production capacity to 156.06Mta. This addition forms part of the company's broader 22.6Mta capacity expansion plan, originally announced in June 2022. With this development, UltraTech solidifies its position as the third-largest cement producer globally, excluding China, with a consolidated grey cement capacity of 154.86Mta. This e... |
Indian cement industry growth expected to slow in FY24-2515 October 2024, Published under Cement NewsIndia's cement industry is projected to experience a slower growth rate of 7-8 per cent this fiscal year, reaching 475Mt, according to a Crisil report. This marks a slowdown from the double-digit growth recorded in the last two financial years. The first half of FY24-25 saw modest growth of just three per cent, attributed to a prolonged heatwave and labour shortages due to general elections. However, the second half is expected to see improved performance, driven by a revival in rural hou... |
Indian cement sector to face revenue decline in Q2FY2025 amid weak demand10 October 2024, Published under Cement NewsIndia's cement sector is expected to witness a 7.2 per cent year-on-year (YoY) drop in revenues for Q2FY25, driven by an 8.7 per cent YoY fall in realisations, according to a report by Sharekhan, a leading retail brokerage firm in India. The report highlights that despite a marginal volume growth of 1.7 per cent YoY, the sector continues to face weak demand, primarily due to sluggish infrastructure projects and adverse weather conditions. The monsoon season, combined with a delay in gove... |
Ambuja leads the industry in joining Alliance for Industry Decarbonisation04 October 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has become the first cement manufacturer globally to join the Alliance for Industry Decarbonisation (AFID). The AFID, coordinated by the International Renewable Energy Agency (IRENA), seeks to accelerate the transition to Net Zero for energy-intensive industries in line with the Paris Agreement. Ambuja has set a target to achieve Net Zero emissions by 2050, with its targets validated by the Science Based Targets initiative (SBTi). As part of it... |
Dalmia Bharat acquires 25% stake in solar power producer03 October 2024, Published under Cement NewsDalmia Bharat Ltd , through its subsidiary Dalmia Cement (Bharat) Ltd, has entered into an agreement to acquire a 25.38 per cent stake in Bijlee Kandasamy Pvt Ltd for INR33m. This acquisition will enable Dalmia Cement to become a captive consumer of Bijlee Kandasamy's solar power generation, allowing the company to source up to 11MW of solar energy in Tamil Nadu. The move aligns with Dalmia Bharat's broader commitment to achieving 100 per cent renewable electricity by 2030 and its goal to... |
Wonder Cement to increase its number of IKN clinker coolers03 October 2024, Published under Cement NewsWonder Cement has ordered several IKN Pendulum coolers for its Nimbahera cement plant . The coolers will be installed on existing lines 1 and 2 and a new line 5 at the Nimbahera facility in Chittorgarh, Rajasthan, India. Each of the clinker coolers has a capacity of 8500tpd. The company will operate a total of five IKN coolers, once the installations are completed. Mr Yogender and Mr Pankaj Joshi from Wonder Cement recently visited the IKN office for an engaging discussion on the on... |