Cement News tagged under: India
Himachal Pradesh gives Reliance Cement green light for new cement works09 May 2013, Published under Cement NewsThe Himachal Pradesh government has given Reliance Cement the green light to set up a new cement plant in the north Indian state. It has also served notices to four cement plants for failing to set up cement plants despite the government having granted approval some years ago. The cabinet, headed by Chief Minister Virbhadra Singh, took the decision to issue notices to Jaiprakash Associates Ltd, Lafarge India Pvt Ltd, Grasim Cements Ltd's subsidiary Harish Cement Ltd and India Cement Ltd,... |
Lanco Industries withdraw proposal for Andhra Pradesh plant, India07 May 2013, Published under Cement NewsLanco Industries has withdrawn its proposal to establish a 0.3Mta mini cement plant in Andhra Pradesh, India. The decision was made after the company reviewed the current market situation in the southeastern state. In a filing to the Bombay Stock Exchange, Lanco Industries stated: "Considering the present market scenario of cement in Andhra Pradesh, the proposal for setting up of mini cement plant of 3,00,000tpa, with rotary kiln, with an estimated capital outlay of INR125 crore, has been... |
Tax write back boosts ACC and Ambuja Cements 1Q, India06 May 2013, Published under Cement NewsHolcim's Indian cement interests, ACC and Ambuja Cements, managed to post an improved first-quarter performance YoY despite a decline in sales, largely due to a writeback of income-tax provisions during the March quarter and an additional depreciation recognised for the March quarter last year. Both companies, in which the Swiss major holds a 50.3 per cent stake each, follow the calendar year (Jan-Dec) as their financial reporting year. India's number two cement producer, ACC, poste... |
Pakistan nine-month exports volumes slip30 April 2013, Published under Cement NewsPakistan exported 6.22Mt of cement in the first nine months of FY12-13 earning US$421.12m, compared to 6.245Mt at US$342.95m in the same period of last year. This shows that exports fell by 0.39 per cent in terms of volume but were up by 22.79 per cent in terms of dollar value, according to data released by Pakistan’s Federal Bureau of Statistics. In terms of the Pakistan rupee, cement exports rose by 33.66 per cent to PKR40.46bn during the July-March FY2013 period. The average export p... |
UltraTech in talks with JP Associates for Gujarat assets, India24 April 2013, Published under Cement NewsUltraTech Cement is reportedly closing in on a deal to acquire the cement assets of Jaiprakash Associates in the state of Gujarat, India, according to local press reports. "The deal is expected to be sealed before May. The valuation and other critical aspects, such as the indemnity amount, are more or less finalised. We are waiting for one more approval," reported The Economic Times quoting two persons with direct knowledge of the development. The report added that the sale of the cement... |
Tamil Nadu Cement Corp to upgrade Ariyalur plant, India22 April 2013, Published under Cement NewsThe Tamil Nadu Cement Corp is planning to expand its Ariyalur cement plant in the state of Tamil Nadu, as well undertaking a number of environmental and energy improvement measures. Tamil Nadu Cement Corp has two cement factories at Alangulam and Ariyalur. The Alangulam unit is to be modernised at a cost of INR195 crore including INR50 crore for mine development. It will receive INR95 crore support from the state government. A project management consultancy is currently preparing a repo... |
Jaiprakash in new attempt to sell Gujarat assets, India17 April 2013, Published under Cement NewsJaiprakash Associates is reportedly planning to sell its Gujarat-based cement units within a few weeks in an effort to reduce debt. According to reports by the Business Standard of India, the Gujarat cement assets are expected to be sold for INR4000 crore. Earlier, the group was in talks with the Birlas to sell the cement units, however, as its expected valuation of US$170/t was deemed too high, it failed to secure the deal. Sources say the sale is now likely to be carried out at US$150/t.... |
Jaiprakash Associates seeks permission for land acquisition12 April 2013, Published under Cement NewsJaiprakash Associates is seeking permission from the Himachal Pradesh state government to start land acquisition for a new cement plant. Industries Minister Mukesh Agnihotri informed the state assembly on Tuesday that the company requires 212ha, including 158ha of forest land, for the plant at Malokhar in Bilaspur district, NewsTrack India writes. "The company has now sought permission to start acquisition of 172ha," the minister said. The memorandum of understandi... |
Sinoma makes Indian acquisition12 April 2013, Published under Cement NewsSinoma International Engineering (Hong Kong) Co Ltd, part of China National Materials Group Corporation Ltd, has acquired a majority stake in India-based cement equipment manufacturer LNV Technology Pvt Ltd. According to the agreement, Sinoma International Engineering has purchased a 68 per cent share in LNV Technology while joint venture partners Mr VC Rao, managing director of the Chennai-based firm and LV Technology Public Co Ltd, hold around a 16 per cent equity share each in the comp... |
Credit Suisse sees Indian demand higher from next fiscal11 April 2013, Published under Cement NewsDespite the Indian cement sector facing a number of challenges last year, Credit Suisse forecasts improvements in consumption going forward with higher growth rates expected from the next fiscal. The domestic market saw mixed results in calendar year 2012, with the first half proving encouraging but a slowdown in the second part of the year fell short of analysts expectations. While the initial months of 2013 have failed to bring any real cheer to the sector, analysts at Credit Suisse see... |