Cement News tagged under: India
Tapping India's CO2 storage potential28 June 2024, Published under Cement NewsThis week the Global Cement and Concrete Association (GCCA) hosted a webinar with the Global CCS Initiative and the Clean Energy Ministerial (CEM) CCUS Initiative following the release of the 'CCUS in the Indian cement industry - A review of CO2 hubs and storage facilities'. While the country with the largest population is committed to achieving net zero by 2070, India currently emits 5.8 per cent of its CO2 emissions from cement manufacture. For the industry to decarbonise, it needs safe st... |
UltraTech Cement poised to buy 23% stake in India Cements28 June 2024, Published under Cement NewsUltraTech Cement says it will buy a 23 per cent stake in Chennai-based rival The India Cements for up to INR18.85bn (US$226m), closing the gap on India's Adani Group. The decision was approved by UltraTech's Board of Directors during a meeting held on 27 June 2024. The investment, which is purely financial and not a related party transaction, is expected to help UltraTech retain a strong presence in the southern part of the country, as Adani firms are attempting to boost its hold in the r... |
Dalmia Bharat Cement targets 130Mta28 June 2024, Published under Cement NewsIndia’s Dalmia Bharat Cement plans to reach 110-130Mta of cement production capacity by 2031. The company has also announced an interim target of 75Mta by 2027. According to the company, it aims to achieve this through new construction projects, expanding existing facilities and through acquisitions. In May this year, its cement production capacity stood at 45.6Mt with projects underway to add a further 2.4Mta and 0.5Mta in Assam and Bihar, respectively. A further 9.4Mta will be adde... |
Shree Cement achieves 1GW renewable energy capacity27 June 2024, Published under Cement NewsIndia-based Shree Cement Ltd has reached 1GW of renewable energy capacity following the commissioning of the company’s 19.5MW solar power plant at factory in Andhra Pradesh. The milestone includes solar, wind, thermal and waste heat recovery power plants. The company has invested INR40bn (US$478.6m) to expand its renewable energy portfolio, representing almost half of its total installed power capacity. In FY24-25 it plans to invest an extra INR10bn to further expand renewable capacity.... |
Adani Cements to increase marine transport21 June 2024, Published under Cement NewsFollowing its recent acquisition of Penna Cement Industries , India-based Adani Cements plans to increase the use of sea transport in its logistics mix. Currently, Adani uses sea transport for less than two per cent of its cargo, but this is expected to increase to 10 per cent by 2027-28. Penny Cement has five bulk terminals at Kolkata, Gopalpur, Karakul, Kochi and Colombo, and these will be particularly useful in serving the peninsular India region, according to Adani Cements CFO, Vin... |
Anhui Conch announces management changes21 June 2024, Published under Cement NewsAnhui Conch Cement has announced the resignation of Zhou Xiaochuan as executive director, joint company secretary, and member of the ESG Committee, effective from June 19, 2024. Yu Shui has been appointed joint company secretary and authorised representative, and is nominated as a candidate for executive director, awaiting shareholder approval at an upcoming extraordinary general meeting, according to Anhui Conch. |
Siam Cement JV launches Kheda brick plant17 June 2024, Published under Cement NewsSiam Cement BigBloc Construction Technologies Pvt Ltd, a 52/48 joint venture between Gujarat based BigBloc Construction Ltd and Thailand’s SCG International Corp Co Ltd (SCG), has launched its India operations with the commercial production of its first brick plant in Kheda, Gujarat. With the vision of launching next-generation walling solution for the Indian market, the joint venture has invested around INR650m (US$7.7m) in setting up a 250,000m 3 per annum capacity project including ... |
Ambuja Cements acquires Penna Cement17 June 2024, Published under Cement NewsAdani Group subsidiary Ambuja Cements has acquired Penna Cement Industries Ltd (PCIL) for INR104,220m (US$1274m). Following this latest acquisition Adani Cement 's production capacity increased to 89Mta. It would also provide sufficient limestone reserves to Ambuja Cement. By 2028 Adani targets a total production capacity of 140Mta capacity and around 20 per cent market share. In a regulatory filing, Ambuja Cements Ltd said it will acquire 100 per cent shares of PCIL from ex... |
BluPine Energy to supply Dalmia Cement (Bharat)17 June 2024, Published under Cement NewsDalmia Cement (Bharat) Ltd has signed an agreement with BluPine Energy for the supply of green energy through a solar power project in Karnataka, India. The agreement involves a 46.87MWp solar power plant under a captive structure, which is expected to generate approximately 93.75MUs of electricity each year, reducing carbon emissions by more than 85,000tpa. “The solar plant in Karnataka will not only produce clean energy but also foster local economic growth and support environmental ... |
Adani Group sets US$3bn aside for multiple cement acquisitions14 June 2024, Published under Cement NewsThe Adani Group is planning several potential acquisitions within the cement sector. These include Hyderabad-based Penna Cement , Jaiprakash Associates’ cement business, Gujarat’s Saurashtra Cement, and Vadraj Cement (owned by ABG Shipyard). The group has allocated US$3bn for these acquisitions, demonstrating its commitment to a bold inorganic growth strategy as it attempts to become the largest cement producer in India. Adani Cement is currently the second-largest producer in I... |