Cement News tagged under: India
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... |
ACC plans capex of INR33bn in 201308 April 2013, Published under Cement NewsACC Ltd, India's second-largest cement producer, has planned a capital expenditure of INR33bn (US$603.9m) in 2013, most of which will be used for the expansion of an existing unit at Jamul in Chhattisgarh. ACC has started work on the Jamul expansion project, which will add 5Mta of capacity, Chairman NS Sekhsaria said while addressing shareholders at the company's 77th annual general meeting (AGM). The expansion, to be completed in a phased manner by 2015, will take ACC's total capacity t... |
Nepal Cement factory limestone supplies obstructed08 April 2013, Published under Cement NewsA cement plant in Nepal has been unable to producer clinker for over a year and a half as local residents have prevented it from extracting limestone. Arghakhanchi Cement Industry obtained a 30-year permit from the government to extract 1000tpd of limestone at Narapani, Arghakhanchi, however local residents have said the quarry has caused their water sources to dry up. The plant’s investors say that due to the obstruction, production at the cement factory in Mainaia has stopped as well... |
UltraTech Cement production at 4Mt in March04 April 2013, Published under Cement NewsUltraTech Cement said that the company’s total production for March 2013 was 4Mt. Dispatches were 4.01Mt, the company said in a filing to the Bombay Stock Exchange. India’s largest cement company recently announced that it had commissioned two new cement facilities as part of its ongoing expansion drive to raise cement capacity by 9.2Mta to 62Mta. The recently-commissioned plants are a 3.3Mta brownfield clinker works at Rawan, Raipur, Chhattisgarh state and a 1.6Mta grinding unit in Hotgi... |
Indian cement price hikes fail to hold in March02 April 2013, Published under Cement NewsCement price hikes initiated during February in the Indian market have failed to stick during March as demand remains subdued across the country. The Economic Times reports that a number of producers have been forced to reduced prices in several areas to meet year-end targets. As a result, the nationwide average was INR300/50kg bag – the same as in February. Prices in the central region corrected by INR5-10/bag after the February peak was followed by weak demand due to the festival of... |
Indian producers struggle with flat market growth26 March 2013, Published under Cement NewsIndian cement companies are experiencing challenging market conditions as subdued demand during the peak season is preventing producers from raising prices. Speaking to local press, M Ravinder Reddy, head of marketing for Vicat Group in India and director of marketing at Bharathi cement, said: “The primary reason, I’m told, is that the government has stopped payments to control fiscal deficit, as a result of which infra projects have taken a beating. The retail end also hasn’t grown due t... |