Cement News tagged under: India
Petron wins new order from Madras Cements, India02 January 2013, Published under Cement NewsPetron Engineering Construction has received an order from Madras Cements a proposed grinding unit at Anakapalli Visakhapatnam. “The order is for mechanical, electrical and instrumentation fabrication and erection works for the proposed cement grinding unit at Anakapalli Visakhapatnam,” Petron Engineering said in a statement. |
Cement major to set up third unit in West Bengal31 December 2012, Published under Cement NewsAmbuja Cement, the Indian subsidiary of Holcim, has expressed an interest in setting up a third unit in Bengal, according to a report in the Times of India. The company already operates plants in Sankrail and Farakka. State commerce and industries minister Partha Chatterjee said the cement major was looking to establish a new greenfield unit in Bengal. The minister was speaking to reporters on the sidelines of an event to launch the expansion of the company's 2.4Mta grinding unit in Sankra... |
Northern India: rising demand to support prices29 December 2012, Published under Cement NewsA slower rate of new capacity additions coupled with strong demand in north India will improve the business environment enabling higher prices for cement companies such as Shree Cement, JK Cement and JK Lakshmi Cement. A reduction in oversupply will improve utilisation levels and eventually lead to higher prices. While India will see capacity expansion of more than 80Mt in the next two years, in north India, it will just be 8-10Mt, according to a report in the Economic Times. Demand gro... |
New appointments at Loesche India21 December 2012, Published under Cement NewsMr PC Abraham has been appointed Managing Director of Loesche India Pvt Ltd as of 1 October 2012. Mr Abraham joined Loesche India Pvt Ltd on 1 March 1995 and has been working as Executive Director of the Technical Department. Under his leadership Loesche India established a successful and competent Technical Field Service Department. Furthermore, Mr AC Goyal has been nominated as member of the Board of Directors of Loesche India Pvt. Ltd as director of finance. The position is also effecti... |
Lafarge looking to sell stake in Indian operations?21 December 2012, Published under Cement NewsPrivate equity funds are in talks to buy a minority stake in Lafarge India as the cement company taps new ways to fund its expansion, the Economic Times of India reports. Carlyle, KKR, Temasek and TPG Capital have begun preliminary talks with Lafarge India management, two sources close to the transaction said. Some of them have also signed non-disclosure agreements. Lafarge wants to shed up to a 20 per cent stake to fund expansion plans worth about INR6000 crore, the ET reported. " Lafar... |
Vicat Sagar joint venture plant begins production, India20 December 2012, Published under Cement NewsThe first line at the greenfield Vicat Sagar plant, a joint venture between France-based Vicat and Sagar Cements, has started production. Located in the north of Karnataka, the plant has a nominal cement capacity of 2.8Mta and has a captive power plant and immediate access to rail transport. To benefit from substantial operational synergies between the companies controlled by Vicat in India, the plant’s production will be marketed under the “Bharathi” brand, backed up by its strong reputa... |
KHD wins new order for 9000tpd ACC plant, India19 December 2012, Published under Cement NewsKHD Humboldt Wedag International AG subsidiaries, Humboldt Wedag India, Pvt Ltd and Humboldt Wedag GmbH received an order from Holcim Group company ACC Ltd, India, for a new 9000tpd cement plant. The total project value, of €69m, consists of a euro portion of €19.8m and an Indian rupee portion equivalent to €49.2m. The plant will be built in Jamul, Chhattisgarh, India and is scheduled for commissioning in May 2015. KHD will supply its energy-efficient COMFLEX® technology for the raw mate... |
India cement sector to see recovery in FY13-1418 December 2012, Published under Cement NewsIndia's cement industry is expected to see a sharp recovery in cement prices in FY13-14 with an improving supply and demand scenario, as well as government measures to fast-track infrastructure projects. Reuters reports that Deutsche Bank believes cement companies such as UltraTech Cement and Shree Cement that have potential to increase capacity and have a bigger presence in western and northern India will witness "disproportionate benefits". Meanwhile, Morgan Stanley maintains an 'attra... |
ACC awards contract for Jamul Cement plant construction, India18 December 2012, Published under Cement NewsMcNally Bharat Engineering has been awarded a contract by ACC Ltd for the construction and installation of a cement plant in the central Indian state of Chhattisgarh. "The company has received an order from ACC Ltd for onshore supply, civil construction and installation and erection of the new Jamul Cement plant," McNally Bharat said in a filing to the Bombay Stock Exchange. The order has a contractual delivery period of 30.5 months, it said and is worth INR733 crore McNally Bharat Enginee... |
BoA-Merrill upgrades India's cement stocks to 'buy'14 December 2012, Published under Cement NewsBank of America-Merrill Lynch upgrades its rating across cement stocks to 'buy' from 'neutral' or 'underperform', saying capacity will lag demand, while valuations are below previous up cycles. The investment adds general elections in the next 18 months bode well for the Indian cement sector given the demand-GDP multiplier expanded in four out of the five previous election years. Among the major cement manufacturers, Bank of America upgraded UltraTech Cement and Ambuja Cements to 'buy'... |