Cement News tagged under: Indian sub-continent
Maple Leaf looks to expand WHR capacity29 September 2020, Published under Cement NewsPakistan’s Maple Leaf Cement Factory Ltd has announced plans to expand capacity at its waste heat recovery plant to 25MW from 16MW. The project is expected to be worth INR1.8bn (US$24.38m) and is likely to be financed through debt. Sayeed Tariq Saigol, CEO, stated that the company has always endeavoured to reduce production costs and increasing its electricity production through the waste heat recovery plant will aid in this. The project is expected to begin by September 2021. |
India Cements expects improvement29 September 2020, Published under Cement NewsIndia Cements’ Managing Director, N Srinivasan, has announced that the company expects an improvement in performance going forwards. "With further relaxation of lockdown measures, there are expectations of increased public spending on rural infrastructure, irrigation, road building and other projects. This, along with a pick-up in individual home building and construction, is expected to improve cement demand," said the MD. Improving conditions in its key markets, such as in Andhra Pra... |
Flying Cement appoints new director25 September 2020, Published under Cement NewsPakistan’s Flying Cement Co has announced the resignation of Waqar Zahid, a director of the company, effective from 10 September 2020. Following Mr Zahid’s departure, the company has appointed Muhammad Mubeen Khan as a new director. |
Mixed trends in export from Pakistan continued in 2MFY2024 September 2020, Published under Cement NewsAccording to Pakistan's Federal Bureau of Statistics (FBS) cement export data for July-August 2020 (2MFY20-21) showed a mix of trends. Pakistan's cement industry earned US$44.51m of export revenue by exporting 1.376Mt of cement and clinker in the 2MFY20-21, compared to US$42.14m from 1.064Mt of exports in July-August 2019. Therefore, shipping represents a 5.6 per cent jump in dollar terms and a growth of 29.35 per cent in quantity MoM. In local currency terms, the export value increased ... |
UltraTech Cement Ltd commits to GCCA's 2050 Climate Ambition24 September 2020, Published under Cement NewsUltraTech Cement Ltd, as a founding member of the Global Cement and Concrete Association (GCCA), has committed to the ‘2050 Climate Ambition’ announced by GCCA on behalf of all its member companies. The GCCA’s ‘2050 Climate Ambition’ is the member companies’ commitment to drive down the CO 2 footprint of their operations and products, and their collective aspiration to deliver society with carbon-neutral concrete by 2050. The industry is coming together to outline this important am... |
Fauji Cement sees 17% fall in net sales24 September 2020, Published under Cement NewsPakistan’s Fauji Cement has released its full annual report for the FY19-20 period, ending 30 June 2020, showing a 17.1 per cent YoY fall in net sales to PKR17.23bn (US$103.7m) from PKR20.79bn. EBITDA also declined to PKR1.79bn from PKR6.04bn in the FY18-19. The company’s operating profit dipped to PKR11.67m from PKR4.46bn in the previous fiscal year. It also saw a net loss of PKR59.38m against an PKR2.82bn profit in the FY18-19. "During the FY19-20, the cement industry faced a number of c... |
Bashundhara Group plans third production unit22 September 2020, Published under Cement NewsBangladesh’s Bashundhara Group is planning a BDT10bn (US$117.7m) investment to significantly increase its manufacturing capacity through the establishment of a third production unit. Bashundhara's daily production capacity will reach 25,000t, according to The Daily Star. The existing units produce around 14,000tpd. "Our target is to export to the Seven Sister states in India as the demand of cement in Bangladesh and India's northern states will increase rapidly in the coming days due to... |
High Court orders removal of Birla Corp director21 September 2020, Published under Cement NewsIndia’s Calcutta High Court has restricted Harsh Vardhan Lodha from holding any position in MP Birla Group companies with immediate effect. As a result, he will no longer be the chairman of Birla Corp Ltd. The decision will reportedly be appealed by the company, according to the Business Standard. "Shareholders elected Harsh Varshan Lodha as a director of Birla Corp with an overwhelming majority of 98 per cent. Mr Lodha being otherwise not disqualified from holding the office of director... |
Sri Lanka cement production and imports see sharp rise in June16 September 2020, Published under Cement NewsSri Lanka's cement production and imports recovered in June by 42.6 per cent YoY, according to Central Bank data. In June cement imports also grew by a record 58.9 per cent YoY to reach 404,000Mt, overtaking domestic cement production, which increased by 28.3 per cent YoY to reach 370,000Mt. June was the first month of this year to record a positive growth in cement imports. Sri Lanka’s domestic cement production and imports had fallen by over 40 per cent YoY since March this year. In ... |
Bestway reports 31% drop in FY19-20 turnover16 September 2020, Published under Cement NewsPakistan-based Bestway Cement reported a gross turnover of PKR63.7bn (US$383.4m) in the financial year ended 30 June 2020, down 19 per cent YoY when compared with PKR79bn in FY18-19. Net turnover fell 31 per cent from PKR53.6bn to PKR37.1bn. Gross profit for the year decline from PKR16bn in FY18-19 to PKR1.1bn in FY19-20. Profit after tax dwindled to PKR0.5bn from PKR10.1bn in the previous financial year. The declining results have been attributed by a significant drop in prices, a substan... |