Cement News tagged under: India
The Ramco Cements Ltd scoops award for Alathiyur plant08 September 2022, Published under Cement NewsThe Ramco Cements Ltd has announced that its Alathiyur plant has been awarded “Gold Medal” in the India Green Manufacturing Challenge 2021-22 by The International Research Institute for Manufacturing (IRIM), India. The award recognises manufacturing firms that have shown consistent progress in improving sustainability factors at a given production facility. Established in 1997, the Alathiyur plant is located in Ariyalur District, Tamil Nadu. It began operations with 0.9Mta capacity b... |
Adani Group scouts for M&A chief08 September 2022, Published under Cement NewsThe Adani Group is looking to recruit a new chief of mergers and acquisitions, replacing Vinod Bahety, who is moving to a new role within the company. According to Financial Express Online, so far this year the Adani Group has agreed to buy Holcim’s cement business in India in a US$10.5bn deal, has promised to invest US$70bn in green energy, and recently launched a hostile takeover of New Delhi Television Ltd. Owner Gautam Adani has been named as the world’s third-richest person, beh... |
Morgan Stanley invests in ACC05 September 2022, Published under Cement NewsMorgan Stanley has bought a stake in Indian cement producer ACC Ltd. According to Mint, Morgan Stanley Asia (Singapore) has purchased 941,557 ACC shares at INR2290 each, marking an investment of INR2156m (US$26.9m). The deal was made through an open market transaction on 2 September 2022. |
Adani Enterprises replaces Shree Cement in Nifty50 on NSE02 September 2022, Published under Cement NewsAdani Enterprises is to be included in the headline index Nifty50 on the National Stock Exchange of India (NSE) from 30 September 2022, replacing Shree Cement . According to The Economic Times, shares in Adani Enterprises have rallied over 88 per cent so far this year, taking its market capitalisation to INR3680bn (US$46,127m). After Adani Ports, this is the second stock from Gautam Adani to be included in the Nifty. Meanwhile, shares in Shree Cement have fallen by almost 21 per cent s... |
UltraTech commissions 1.3Mta Dalla expansion31 August 2022, Published under Cement NewsUltraTech Cement Ltd announced the commissioning of the 1.3Mta expansion to its Dalla Cement Works in Uttar Pradesh, India. As a result, the plant’s cement capacity is now 1.8Mta and the company’s total capacity in India is 115.85Mta. |
Grasim Industries announces US$392m capex30 August 2022, Published under Cement NewsIndia’s Grasim Industries, part of the Aditya Birla Group , is planning capex of INR31,170m (US$391.9m) in its existing lines of business this fiscal year, primarily for the creation of new capacity and modernisation of existing plants. This compares to INR19,580m in the previous fiscal. According to Kumar Mangalam Birla, chairman of Grasim Industries, the investment does not include the group’s paints and B2B e-commerce businesses. In January 2021 Grasim announced plans to enter the pai... |
RCC Cements Ltd appoints company secretary and compliance officer29 August 2022, Published under Cement NewsIndia’s RCC Cements Ltd has appointed Shimpy Goyal as company secretary and compliance officer, effective from 25 August 2022. Ms Goyal succeeds Ms Bhawna Arora who resigned from the position on 18 August 2022. |
Adani orders Gebr Pfeiffer mill and classifier25 August 2022, Published under Cement NewsAdani , Gujarat, will supply the market in western India with high-quality cement from a Pfeiffer MVR mill through its subsidiary Adani Cement Industries Ltd. A grinding plant for 165tph of fly ash-pozzolan mixed cement is to be built in the industrial region of Dahej in Gujarat. It will be equipped with an MVR 3750 C-4 with integrated high‑efficiency classifier SLS 4000 VC and a drive with a rated power of 3090kW. For the cement producer, the active redundancy of the four grinding roll... |
Gujarat Sidhee Cement reports revenue fall22 August 2022, Published under Cement NewsGujarat Sidhee Cement Ltd (GSCL) has recorded total income of INR1.89bn (US$23.69m) in the quarter ended 30 June 2022, compared to INR2.04bn in the quarter ended 31 March 2022. Net profit over the same period has advanced from INR32.2m to INR54.9m, according to Construction News. The India-based company runs one plant located in Sidheegram in Sutrapada Taluka, Gujarat State. GSCL also announced the resignation of Dr Rahul Gupta as non-executive and non-independent director of the com... |
Shiva Cement turnover down 88%22 August 2022, Published under Cement NewsIndia’s Shiva Cement has reported turnover for FY2021-22 of INR34.65m (US$433,491), down 88 per cent YoY, primarily due to the suspension of plant operations on the back of ongoing project activity. EBITDA over the same period fell four per cent to a loss of INR80.17m, while profit after tax fell 16 per cent to a loss of INR255.2m. This was due to lower sales volumes, which fell 89 per cent YoY in FY2021-22, along with an increase in the cost of production. “Our main project, the 40... |