Cement News tagged under: Indian sub-continent
No stopping India's cement capacity rise20 August 2021, Published under Cement NewsIndia is the second-largest cement market in the world with an increasing population and high development needs. Consequently, the prospects for long-term cement demand growth are good. While many cement companies have delayed investment plans due to the ongoing pandemic, in India there is a surge of activity for CAPEX projects. The Cement Manufacturing Association (CMA) currently estimates that India has an installed cement capacity of 545Mta. A report by Crisil Ratings claims that as mu... |
Loesche completes INSEE Cement maintenance at Galle grinding plant20 August 2021, Published under Cement NewsINSEE Cement has completed a week-long scheduled maintenance of its Galle grinding plant in Sri Lanka. The inspection was carried out by Loesche. "As Sri Lanka’s only fully integrated cement manufacturer, we are stepping up to meet the growing demand of the local market by increasing our reliability and improving operations by up-keeping our plants and machinery to globally benchmarked standards," said Gustavo Navarro, CEO at INSEE Cement. "By carrying out preventive maintenance we ensure... |
Lucky Cement reports consolidated earnings of PKR28.2bn for FY2110 August 2021, Published under Cement NewsPakistan-based Lucky Cement Ltd reported a consolidated profit after tax of PKR28.23bn (US$172.46m) against PKR 7.1317bn in the previous fiscal year. The company achieved a consolidated gross turnover of PKR267.73bn, which is 64 per cent higher as compared to last year’s turnover of PKR162.87bn. The PAT of the cement segment (holding company) grew by 3.21 times during the year under review due to improved margins and sales volumes. The increase in sales volumes was attributable to the ... |
Orient Cement features in The Economic Times' Iconic Brands 202109 August 2021, Published under Cement NewsOrient Cement, one of India’s leading cement manufacturers and home to brands Birla.A1 Premium Cement and Birla.A1 StrongCrete, has featured in the fourth edition of The Economic Times’ Iconic Brands 2021. Talking about the recognition, Deepak Khetrapal, MD and CEO, Orient Cement, expressed, "We are delighted that the quality of our products along with our superior customer service has been recognised. This is also an affirmation of our transparent and fair business practices, and the e... |
Birla Corp consolidated net profit rises to INR1420m in FY1Q2106 August 2021, Published under Cement NewsBirla Corp Ltd has reported a consolidated net profit of INR1425.1m (US$19.08m) in the 1QFY21-22 ended June 2021, which is 115 per cent higher over the corresponding quarter of the previous year, when net profit reached INR657.7m. However when compared with the January-March 2021 quarter, when a net profit of INR2493.3m was reported, it fell sharply. Net revenue for the quarter at INR17,491.1m represents a growth of nearly 43.1 per cent over the last year's corresponding period, when r... |
APCMA expects pick up after dismal start to FY2105 August 2021, Published under Cement NewsAll Pakistan Cement Manufacturers' Association (APCMA) released total dispatches data for July 2021, which indicate a market contraction of 19.4 per cent to 3.899Mt in the first of month of the new fiscal year, FY21-22. APCMA attributes the declining trend to monsoon rains and the stoppage of construction activities due to Eid-ul-Azha across the country. A representative of APCMA expressed concerns about the slide in demand. However, he was hopeful that the cement industry would rega... |
New northern Pakistan crushing site planned04 August 2021, Published under Cement NewsThe Khyber Pakhtunkhwa Provincial government of Pakistan has planned a limestone mining/crushing site at Khanpur for the cement industry. The scheme has been approved by the Cabinet and the Assembly as Annual Development Plan (ADP) in the FY21-22 financial budget for the country's northern area. KP Chief Minister Special Assistant on Mining, Arif Ahmadzai, informed the media that the KP Mines Department had awarded rights for establishing stone crushers near Khanpur Dam, cov... |
JSW Cement partners with new investors to accelerate growth29 July 2021, Published under Cement NewsIndia-based JSW Cement has entered into definitive agreements to raise up to INR15.000bn (US$201.2m) from two global private equity investors, Apollo Global Management Inc (through its managed funds) and Synergy Metals Investments Holding Ltd. The transaction is a structured private equity deal wherein compulsorily convertible preference shares (CCPS) are being issued to the investors and the conversion of such CCPS into common equity of the company will be linked to the company’s ... |
Shree Cement about to start building West Bengal grinding plant29 July 2021, Published under Cement NewsShree Cement is preparing to start work on its INR6bn (US$80.5m) grinding unit in Bengal within a month. The new plant will have a cement grinding capacity of 3Mta which will raise the group’s cement capacity to 47Mta when complete. "This will be our first plant in Bengal. In the east, we have plants in Odisha, Chattishgarh, Bihar and Jharkhand," said H M Bangur, Shree Cement’s MD. Mr Bagur added that business is reviving well in Bengal, "The growth in the state is higher than the nat... |
Ambuja Cement records net sales of INR33.4bn26 July 2021, Published under Cement NewsAmbuja Cement recorded net sales of INR33.420bn (US$448.9m) in the April-June 2021 quarter 2021, up from INR21.450bn in the same period last year. Sales volumes for the 2Q21 reached 6.33Mt up from 4.19Mt in the 2Q20. EBITDA rose substantially in the 2Q21 to INR9600m, up 61 per cent from INR5950m recorded in the same period last year. Profit after tax amounted to INR7230m in 2Q21, up from INR4530m in the 2Q20. Neeraj Akhoury, CEO India of Holcim and Managing Director and CEO of Ambuja ... |