Cement News tagged under: Orient Cement
Orient Cement to acquire two Jaypee units01 June 2017, Published under Cement NewsOrient Cement has reached an agreement to buy two cement units from Jaypee in the central and eastern regions of India. Orient will buy a 74 per stake in Bhilai which is a joint venture between Jaiprakash Associates Ltd (JAL) and Steel Authority of India Ltd (SAIL). Bhilai has an integrated PSC cement capacity of 2.2Mta consisting of a clinker unit in Satna area in Madhya Pradesh and a grinding unit in Bhilai, Chhattisgarh. Another agreement was signed for the acquisition of the 2Mta Nig... |
Orient Cement sees pick up in volumes10 May 2017, Published under Cement NewsIndia's Orient Cement saw an improvement in fourth-quarter volumes but reported a 10.55 per cent decline in net profit due to the full extent of finance costs and depreciation. The CK Birla Group firm said total income increased by 36.98 per cent to INR6.957bn (US$107.6m) during the quarter under review. "The company has reported volume growth of 25 per cent over the corresponding quarter last year on account of increasing volumes across all its areas of operation," it said in a statement.... |
Orient Cement becomes CSI member26 April 2017, Published under Cement NewsOrient Cement Ltd, part of the CK Birla Group, announced that it has joined the Cement Sustainability Initiative (CSI). The Indian cement producer expects membership of this initiative to give further impetus to its efforts to create a safe and ecologically favourable environment and is in line with its vision to be the “employer of choice” and the “neighbour of choice” in the geographies where it operates, the CSI said in a statement on Tuesday. "We are delighted to be a part of the g... |
India: Orient and JP deal reportedly in final stages05 April 2017, Published under Cement NewsOrient Cement's plan to acquire certain assets of the Jaypee Group is in the final stages and completion of the deal could be announced shortly, according to local media. Citing sources familiar with the development, 'Moneycontrol' reported today that management of both Orient and the Jaypee Group are due to meet this week to discuss last-minute details of the deal. In October 2016, the two companies announced that Orient Cement Would acquire Jaiprakash Associates’ entire stake in Bhil... |
India: Orient Cement posts US$4.4m Q3 loss10 November 2016, Published under Cement NewsOrient Cement has recorded a loss of INR294m (US$4.4m) for the quarter to the end of September 2016, CNBC’s Money Control reports. The loss stands in contrast to the same period last year, in which Orient made a profit of INR280m. The current quarter did see revenues rise by 11 per cent to INR4.45bn. “Our markets and plants underwent some difficulty because of monsoon rains. It led to operational challenges,” said Deepak Khetrapal the firm’s MD and CEO. Khetrapal added that volumes ... |
India: Birla Group front runner to buy Bhillai stake06 October 2016, Published under Cement NewsOrient Cement, part of the Birla Group, has emerged as the front-runner to buy out Jaiprakash Associates’ 74 per cent stake in Bhillai Jaypee Cement, the Economic Times reports. Bhillai is run as a joint venture between Jaiprakash and SAIL, with the latter holding 26 per cent of the enterprise. A source told the Economic Times that the deal values Bhillai at INR15bn (US$225m). Bhillai Jaypee Cement has a capacity of 2.1Mta with a clinker unit at Satna and a grinding unit Bhillai. "T... |
India: cement volume growth09 June 2016, Published under Cement NewsVolume growth in the Indian cement market increased by 12-18 per cent in the quarter ending March 2016 compared to the 4.7 per cent drop seen in the corresponding quarter last year. This level of growth is the largest seen in the last six quarters, and the only growth to reach double digits, as reported by The Economic Times, India. Due to lower petcoke and coal prices the cost of producing 1t of cement fell by 8.6 per cent to INR3517 (US$52.70) YoY. Medium and small companies in the c... |
Orient Cement commissions Karnataka plant, India28 September 2015, Published under Cement NewsOrient Cement has commissioned and started commercial production of its new integrated greenfield cement plant Chittapur, Gulbarga district, Karnataka, with an installed capacity of 3Mta. The first consignment of cement from the new plant was dispatched on 26 September 2015. Completion of the project lifts Orient Cement’s total cement capacity to 8Mta. |
Dalmia plans merger of listed cement units27 August 2014, Published under Cement NewsIndia-based Dalmia Group is considering merging its two listed cement units, OCL India and Dalmia Bharat, according to local press reports citing sources with knowledge in the matter. Following the merger, the swap ratio wil favour shareholders of OCL India, reports India Investment News. As part of the restructuring process, Dalmia Bharat also aims to merge its unlisted subsidiary Dalmia Bharat Enterprises into itself. Private equity firm Kohlberg Kravis Roberts owns a 14.5 per cent stake... |
Orient in strategic talks to acquire 2Mta plant15 August 2014, Published under Cement NewsOrient Cement is in talks with three companies to acquire a cement plant as part of plans to triple capacity by 2020, a senior company executive has said. Deepak Ketrapal, managing director of Orient Cement, told local press that "strategic discussions“ are being held to acquire a 2Mta cement plant. The names of the companies were undisclosed. Mr Ketrapal added that Madhya Pradesh and Chhattisgarh are the prime locations. The acquisition will form part of Orient Cement’s aim to boost cap... |