Cement News tagged under: Penna Cement
UltraTech acquires additional stake in India Cements29 July 2024, Published under Cement NewsUltraTech Cement is acquiring a 32.72 per cent share in India Cements , marking an investment of INR39,540m (US$472.2m). According to The Hindu, the move enables Aditya Birla -owned UltraTech to expand its presence in the fast-growing southern India market, particularly Tamil Nadu. UltraTech has reportedly entered into a share purchase agreement for a 28.42 per cent stake from promoters – N Srinivasan, Chitra Srinivasan, Rupa Gurunath and S K Asokh Baalaje — and a 4.3 per cent share ... |
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... |
Penna Cement receives approval for IPO19 October 2021, Published under Cement NewsIndia’s Penna Cement has received approval from the Securities and Exchange Board of India for its INR15.5bn (US$206.56m) initial public offering. The IPO includes a fresh issue of INR13bn and an offer for sale of up to INR2.5bn by promoter PR Cement Holdings, which holds a 33.41 per cent stake in the company. The fresh capital is expected to be used for the repayment of borrowings and to fund an expansion project. |
Penna Cement refiles for IPO17 May 2021, Published under Cement NewsIndia’s Penna Cement Industries has refiled for its initial public offering to raise INR13bn (US$177.5m) through fresh equity shares while its promoters would raise INR2.5bn through an offer for sale. The company expects to use the capital to repay INR5.5bn of borrowings. It would also fund capital expenditure of INR1.05bn for its KP Line II project, while INR800m would go towards upgrading its raw grinding and cement mill in Talaricheruvu, and INR1.1bn and INR1.30bn towards setting up was... |
IBAU Hamburg launches largest automatic shipunloader06 November 2018, Published under Cement NewsIBAU Hamburg has successfully commissioned the largest automatically unloading cement cargo ship, the Penna Suraksha, in Southeast Asia. The order will see Penna Cement of India equipped with a shiploader/unloader with 1000tph capacity. |
Penna Cement files for an IPO for expansion plans05 November 2018, Published under Cement NewsPenna Cement has filed for a INR15,500m (US$212.2m) initial public offering (IPO) with the markets regulator Sebi to raise funds for expansion and paying off debt. Penna Cement's CEO, Vikram Reddy said Penna Cement has an expansion plan that includes a mix of brownfield and greenfield plants that will raise the company's cement capacity to 16.5Mta by 2020. The IPO will consist of a fresh issue of INR13,000m and an offer for sale of up to INR2500m by the company's promoter PR Cement Holding... |
New cement terminal enters operation in southwest India05 September 2018, Published under Cement NewsIndia’s Cochin Port Trust launched the port’s fourth cement terminal at Ernakulam Wharf, Kerala, on Monday. The terminal is expected to handle 0.3Mta of cement and has been set up on 1.14ha of land. The terminal entered operation by receiving the Penna Suraksha, the largest self-discharge vessel in Asia, with 25,000t of cement transported from Krishnapatnam. The vessel has a discharge capacity of 1000tph and once fully delivered, the material will be bagged at Penna Cement’s plant at the p... |
Penna Cement joins the WCA21 August 2018, Published under Cement NewsPenna Cement of India has joined the World Cement Association (WCA) as a corporate member. Commenting on the news, Penna Cement's Director of Marketing, Krishna Srivastava, said: "We are glad to be part of the World Cement Association, which will help us to benchmark against the best companies in the world to improve our environmental sustainability and energy conservation." Meanwhile, Norman Greig, secretary general of the WCA, welcomed Penna Cement, "With Penna Cement, a new member stro... |
Penna Cement Industries Ltd orders Loesche VRM20 December 2017, Published under Cement NewsPenna Cement Industries Ltd has ordered a Loesche VRM for its plant in Boyareddypalli, Andhra Pradesh.The four-roller mill will grind petcoke with a throughput capacity of 52tph. The order will be fulfilled by Loesche at the beginning of next year. Penna Cement Industries has a total production capacity of 7Mta and is primarily active in the southern and western regions of India. The company wants to expand the capacity at its operations in Boyareddypalli from 2Mta to 4.6Mta. |
Penna Cement plans expansion Gudipadu limestone mining to raise cement output11 December 2017, Published under Cement NewsIndian cement producer Penna Cement is planning an expansion of the Gudipadu limestone mining project at the Gudipadu and Kundanakota, Anantapur district, Andhra Pradesh. The project will see mining operations increase from 2.3Mta to 5.3Mta and is currently awaiting environmental clearance.The estimated cost of the project is INR50m (US$ 777,276) and the mining lease area is 392.63ha. Estimated mineable reserves are 88.403Mt, which will be mined in fully mechanised opencast operations ... |