Cement News tagged under: India
Indian cement prices ease09 August 2012, Published under Cement NewsIndian cement prices have started to ease over the past two weeks, declining by an average of two per cent, according to reports in the Business Standard of India. Markets had been witnessing a continual increases despite the Competition Commission of India’s cartel ruling back in June However, the average nationwide price of cement has fallen from INR310/50kg bag to INR304/bag. Heavy rains and floods in the northeast and states like Bihar and Uttar Pradesh have resulted in prices comi... |
Independents struggle under southern excess capacity, India09 August 2012, Published under Cement NewsTwo years of flat growth in south India has pushed independent cement firms to seek buyers, according to a report in the Times of India. After news of Sree Jayajothi Cements looking for buyers, the paper has learnt that the promoter of Bhavya Cements is also scouting for suitors. South India is reeling under excess capacity and cement manufacturers are operating their plants at only 70-75 per cent of the rated capacity. With growth in lower single digits, the promoter of Bhavya Cements, ... |
Pakistan government urged to facilitate exports09 August 2012, Published under Cement NewsThe Islamabad Chamber of Commerce and Industry (ICCI) has said that Non-Tariff Barriers (NTB) are hampering cement exports and has urged the government to explore new markets for the growth of the industry in the country. Speaking to the Nation, ICCI president Yasir Sakhi Butt, said: “The local cement industry needs attention as its growth is considered a major indicator of economic activity," with regard to decreasing exports. He believes that new export destinations should be explored and... |
CRH confirms Jaiprakash talks for Gujarat unit08 August 2012, Published under Cement NewsCRH plc announces that it has entered negotiations with Jaypee Cement Corporation (Jaypee) that may lead to the purchase by CRH of an equity stake in Jaypee’s Gujarat cement business. The Gujarat operation under consideration consists of a 3.6Mt clinker plant at Kutch, in western Gujarat, with 2.4Mt of cement grinding capacity and a further grinding plant in eastern Gujarat with capacity to produce 2.4Mta. The completion of any transaction would be subject to satisfactory due diligen... |
Indian producers sign pact signed to support low-carbon cement investments08 August 2012, Published under Cement NewsIndian cement majors, including ACC Ltd, Shree Cement Ltd and Ultratech, have signed a co-operation pact to support low-carbon investments in India, Business Line India report. The pact was signed in Geneva with member companies of the World Business Council (WBC) for Sustainable Development’s Cement Sustainability Initiative and International Finance Corporation (IFC). Under the pact, a Low Carbon Technology Roadmap for the Indian cement industry is to be launched this year-end. “This w... |
Fitch Ratings says outlook for Indian construction stable07 August 2012, Published under Cement NewsFitch Ratings says that the outlook for the Indian construction sector remains stable for 2H12, despite the continued unfavourable macroeconomic environment, as some of the risks have already been factored into the ratings. However, the medium-term outlook could be affected by ongoing challenges in execution, coupled with high interest rates and lacklustre equity markets. Fitch is concerned about the construction sector's growing order book position amid slowdown in project execution, as th... |
Pakistan July dispatches decline07 August 2012, Published under Cement NewsPakistan dispatches in the first month of the current fiscal saw a decline of 1.64 per cent compared to July 2011, according to data from the All Pakistan Cement Manufacturers Association (APCMA). Domestic dispatches were down by 1.47 per cent in July 2011 to 2.05Mt compared to 2.02Mt in 2011. However, the decline in exports was steeper at 9.23 per cent to 755,010t from 831,785t in July 2011. Exports to Afghanistan dropped by 10.37 per cent to 455,897t while exports to India were down ... |
Madras Cement net profit rises 25%, India03 August 2012, Published under Cement NewsMadras Cements Ltd said on Thursday it earned a net profit of INR123.01 crore for the quarter ended June 2012 as against INR98.30 crore it earned in the corresponding quarter last year, an increase of 25%. “The increase in profit during the quarter was due to higher sales and better realisation for the cement sold," the company said. Net turnover including other income rose to Rs 997.04 crore as compared to Rs 770.01 crore, an increase of 29%. |
UltraTech Cement eyes mega cement complex in Tamil Nadu, India31 July 2012, Published under Cement NewsUltraTech Cement is considering constructing a massive cement complex including a 5.5Mta integrated cement plant in Kurur, Dindigul district, Western Tamil Nadu, according to local press reports. Information accessed by the Times of India indicate that Samruddhi Cement, part of UltraTech Cement,is planning a 5.5Mta plant,4.5Mta clinker facility, 3 x 25MW captive power plants for the complex plus a 15MW waste heat recovery project at the location. The company is already in the process o... |
Six state-owned plants to be sold, India30 July 2012, Published under Cement NewsThe government of India has revived plans to sell six out of 10 cement plants operated by state-owned Cement Corp of India. Two of the cement plants are located in the state of Chhattisgarh and one each in Madhya Pradesh, Karnataka, Harayana and Delhi. The Board for Industrial and Financial Reconstruction (BIFR), which looks into ailing public sector units, has reconstituted an asset sale committee to arrive at a valuation for the six plants, which have not been functional for almost a dec... |