Cement News tagged under: Indian subcontinent
Gautam Adani injects US$799m into Ambuja28 March 2024, Published under Cement NewsGautam Adani and his family have invested a further US$799m in Ambuja Cements Ltd , raising their stake in the cement producer to 66.7 per cent. According to Bloomberg News, the move is indicative of the billionaire’s confidence in the cement business as India undergoes an infrastructure boom. Adani first acquired a controlling stake in Ambuja Cements Ltd and ACC Ltd in 2022 for US$10.5bn. This latest investment will help Ambuja Cements increase its production capacity to a target 1... |
UltraTech to buy stake in clean energy plant28 March 2024, Published under Cement NewsIndian cement producer UltraTech , part of the Aditya Birla Group , will by a 26 per cent stake in O2 Renewable Energy XXII for approximately INR160m to meet the energy requirements of its cement plants. New Delhi-based O2 is planning a 35-48MW solar power plant in Karnataka, India. The acquisition is part of UltraTech's investments in clean power sources. The share purchase of O2 is also to optimise energy costs and comply with regulatory requirements in terms of captive power consump... |
Afghanistan in talks over new cement plant28 March 2024, Published under Cement NewsTurkey-based construction company 77 INSAAT has reportedly expressed an interest in setting up a cement plant in Jawzjan province in the north of Afghanistan, close to the border with Turkmenistan. According to Ariana News, 77 met with Shahabuddin Delawar, the acting minister of mining and petroleum in Afghanistan, to discuss the possibility of a new cement production facility in the Yatim Taq area. 77 has worked on a number of projects in Afghanistan in recent years, primarily within th... |
Indian cement demand growth to decline in 4QFY23-2420 March 2024, Published under Cement NewsIndia is expected to see a fall in cement demand growth in the final quarter of the current fiscal year (January-March 2024), due to a slowdown in construction activity, adverse weather conditions and uncertainty in the run-up to the elections being held in April and May. According to Business World India, an increase in supply along with more intense competition has also had an adverse impact on cement prices. Reports suggest that prices have already begun to decline, with reductions of ... |
Geoclean launches two new waste management plants20 March 2024, Published under Cement NewsACC and Ambuja Cements ’ ( Adani Group ) sustainable waste management company, Geoclean, has opened two new facilities. The Ambuja Marwar Pre-processing and Co-processing Facility will convert 220,000t of waste into alternative fuels, increasing the Marwar cement plant’s thermal substitution rate (TSR) to 15 per cent, according to the company. The new facility marks a collaboration between the cement producer and the Ambuja Marwar Farmer Producer Organisation (FPO), which will supply... |
Shree Cement enters RMC sector14 March 2024, Published under Cement NewsShree Cement has acquired five ready-mixed concrete (RMC) plants from StarCrete LLP. The plants, which have an aggregate capacity of 422m 3 /h, are all located in Mumbai, reports The Times of India. Commenting on the deal, Neeraj Akhoury, managing director of Shree Cement, said, “The strategic foray into RMC segment is a step ahead in our vision to become a multi-product company centred around core cement business. The RMC segment is expected to clock healthy growth since there has bee... |
Ramco Cements opens new cargo terminal13 March 2024, Published under Cement NewsRamco Cements has inaugurated its new Gati Shakti Cargo Terminal at Jayanthipuram in Andhra Pradesh, India. The terminal will enable Ramco to transport crushed limestone from its mines in Budawada to its cement plant in Jayanthipuram. It also marks the first time an Indian cement producer has used electric locomotives to transport its limestone to its plant. The railway wagons loaded with crushed limestone from the Budawada mines will travel a distance of 8.3km to the Jayanthipuram pla... |
Pakistan cement prices down in March12 March 2024, Published under Cement NewsCement prices in Pakistan have fallen in the opening week of March, according to the Pakistan Bureau of Statistics. The average retail price of a bag of cement in the northern regions of Pakistan came in at PKR1248 (US$4.47) in the first week of March, down 0.29 per cent from the average of PKR1251 seen in the previous week. Elsewhere in the country, average cement retail prices were reported as PKR1225/bag in Islamabad, PKR1215 in Rawalpindi, PKR1172 in Karachi, PKR1205 in Quetta and PKR... |
Pakistan cement dispatches down 19% YoY in February05 March 2024, Published under Cement NewsPakistan has reported total cement dispatches of 3.26Mt in February 2024, compared to 4.04Mt in the same period a year earlier. This marks a YoY decline of 19.2 per cent, according to the All Pakistan Cement Manufacturers Association. Local dispatches in February this year came in at 2.86Mt, down 20.2 per cent on the same period a year ago, reports Bol News, while cement exports have seen a drop of 11 per cent YoY with volumes falling from 444,962t in February 2023 to 395,935t in Februar... |
Fauji Cement posts 20% sales increase in 1HFY23-2427 February 2024, Published under Cement NewsPakistan’s Fauji Cement Co Ltd has reported sales of PKR40.35bn (US$145.75m) in the1HFY23-24, ended 31 December 2023. This compares to PKR33.67bn in the same period a year earlier, marking a 19.83 per cent YoY increase. Net profit over the same period advanced by 3.83 per cent from PKR5.079bn to PKR5.273bn. Over the six-month period, the cost of sales increased by 17.32 per cent from PKR23.434bn to PKR27.493bn, while gross profit came in at PKR12.858bn, up 25.59 per cent on the PKR10.23... |