Cement News tagged under: India
HeidelbergCement India sells grinding unit to JSW Group22 May 2013, Published under Cement NewsHeidelbergCement India has sold its 0.6Mta grinding facility in Raigad, Maharashtra, to the JSW Group, the company has informed the Bombay Stock Exchange. The acquisition is situated adjacent to the company’s steel plant and will allow JSW to use slag from its steel process in the grinding process. For HeidelbergCement, the disposal of cement facility is in line with company’s aim of divesting less strategic assets with lower margins to focus on more strategic and key operations in Centra... |
India Cement's net profit hit by rising production and transportation costs22 May 2013, Published under Cement NewsRising production costs and subdued demand in the southern markets has resulted in India Cements reporting a 31 per cent decline in FY13 net profit. Net profits (consolidated) fell to INR178.62 crore for the fiscal, down from INR259.86 crore last year, while revenues rose nine per cent to INR5159.47 crore from INR4631.04 crore last year. According to N Srinivasan managing director of India Cements, profit took a hit due to an increase in cost of diesel and freight charges and high cost o... |
Lafarge India receives environmental approval for Chhattisgarh expansion21 May 2013, Published under Cement NewsLafarge India has received approval from the environmental ministry to proceed a project to double capacity at its Chhattisgarh plant, a government official has said. The Indian unit of the French cement major plans to expand clinker capacity from 1.6Mta to 3.2Mta and cement capacity from 2.2Mta to 4.8Mta. Lafarge India has a cement capacity of around 8Mta from two integrated cement plants?in Chhattisgarh (Sonadih and Arasmeta) and grinding units in Jharkhand (Jojobera) and West Bengal... |
HeidelbergCement to sell stake in Indian unity to private equity investors?20 May 2013, Published under Cement NewsHeidelbergCement is reported to be in talks with private equity investors to sell a minority stake in its Indian arm, which could result in the second such deal in the domestic sector in recent weeks. Speculation is mounting that Bain Capital is conducting a due diligence to pick up around 10 per cent in Heidelberg India according to reports by The Telegraph. Other private equity investors such as Carlyle and Sequoia are also reported to be interested. Earlier this year HeidelbergCement... |
Indian producers directed to pay 10% of CCI penalty17 May 2013, Published under Cement NewsIndia’s Competition Appellate Tribunal has said that cement companies must pay 10 per cent of the INR6307 crore penalty issued to them by the Competition Commission of India (CCI) for cartel practices. Passing an interim order, a COMPAT bench headed by its chairman Justice VS Sirpurkar asked the 11 producers in question along with the Cement Manufacturers Association to pay around INR630 crore within a month, according to reports by the Press Trust of India. The matter is scheduled for a ... |
JKCL cement plant set for July completion, India17 May 2013, Published under Cement NewsA cement grinding plant being constructed by Jammu and Kashmir Cements Ltd (JKCL) in northern India is set for completion in July, the state government has said. Sajad Ahmed Kichloo, Minister for Industries and Commerce, recently toured the state-owned JKCL site where work continues on the 300tpd grinding plant and associated packing facilities. After visiting all sections of the plant, the Minister expressed satisfaction on project work to-date. The grinding plant is being is being se... |
Lafarge raises EUR200m to accelerate its development in India15 May 2013, Published under Cement NewsLafarge SA signed an agreement to raise €200m through capital increase subscribed by Baring Private Equity Asia, and representing a 14 per cent minority stake in its Indian subsidiary, Lafarge India Private Ltd. This transaction, which is subject to the approval of local regulatory authorities, will accelerate Lafarge's growth plans in India in all its product lines: Cement, Aggregates and Concrete. Lafarge entered the Indian market in 1999 through its cement business and currently ope... |
Sanghi Industries' 3Q benefits from extended sales reach14 May 2013, Published under Cement NewsSanghi Industries Ltd has posted a 234 per cent jump in net profit as the Gujarat-based producer increases its geographical sales spread and implements a number of cost-saving measures. Net profit for the third quarter ended 31 March 2013 reached INR419m compared to INR125m for the same quarter in previous financial year. Net sales in the 3QFY12-13 were INR2981m, almost on a par with the INR2971m recording in the 3Q of the previous year. For the nine months of current financial year, pro... |
Pakistan 10-month dispatches rise 4.09%13 May 2013, Published under Cement NewsPakistan cement dispatches rose by 4.09 per cent in the first 10 months of the current fiscal, the latest data from the All Pakistan Cement Manufacturers Association (APCMA) shows. Dispatches for the 10 months to April 2013 reached 27.664Mt compared to 26.576Mt during the same period of the previous year. Domestic sales accounted for 21Mt, representing a 6.03 per cent YoY increase. In April 2013 alone, the industry dispatched 3.123Mt, 3.8 per cent higher than April 2012 dispatches. How... |
Mangalam Cement to begin upgrade of Kiln Line 1, India09 May 2013, Published under Cement NewsMangalam Cement has halted operations of its Kiln Line 1 to upgrade its clinker manufacturing capacity, the company has informed the Bombay Stock Exchange. The cement producer stopped operations on 6 May so it can hike capacity by 0.5Mta. The project is likely to be completed by the end of the second quarter of FY14. It noted that supplies will be sufficient in the interim as it has clinker in stock. Mangalam Cement operates one cement plant Morak, Distt. Kota in Rajasthan with a capacity ... |