Cement News tagged under: South Asia
Pakistan's cement industry sees 9% growth in October 2024, driven by robust exports06 November 2024, Published under Cement NewsPakistan’s cement industry reported an 8.7 per cent increase in total dispatches for October 2024, reaching 4.357Mt compared to 4.006Mt in the same month last year, according to data from the All Pakistan Cement Manufacturers Association (APCMA). Local cement dispatches declined by 0.5 per cent to 3.276Mt, while exports surged by 51.3 per cent to 1.08Mt. Usama Rauf of AKD Securities Ltd commented on the data, explaining that the annual decline in local sales is primarily due to a 21 per ... |
Power Cement appoints Muhammad Arif Habib as chairman of the board30 October 2024, Published under Cement NewsPower Cement Ltd has announced the appointment of Muhammad Arif Habib as its new chairman of the board, effective October 28, 2024. Mr Habib replaces Nasim Beg, marking a significant shift in the leadership of one of Pakistan’s key cement producers. Muhammad Arif Habib, a well-known figure in Pakistan's corporate landscape, brings extensive experience in the finance and investment sectors. As chairman of Arif Habib Corp Ltd, one of Pakistan’s largest conglomerates, his expertise spans i... |
JK Cement announces 75% drop in net profit for 2Q2429 October 2024, Published under Cement NewsJK Cement Ltd has announced a steep 74.7 per cent YoY drop in its net profit for the July-September 2024 quarter, with earnings falling to INR452m (US$5.38m), far below analysts' estimates of INR981.1m. Revenue from operations declined by seven per cent to INR 23.92bn, while sequentially, the company saw a 77.7 per cent drop in net profit and a 9.5 per cent decrease in revenue. In the July-September 2024 period, JK Cement's total expenditure edged slightly higher, reaching INR23.65bn fr... |
Dalmia Cement plans 100% renewably-powered plant in Madhya Pradesh24 October 2024, Published under Cement NewsDalmia Cement has announced plans to construct a 4Mta cement plant in Madhya Pradesh, becoming the first such facility in India to operate entirely on renewable energy. The project, valued at approximately INR30bn (US$ 356.82m) was revealed by Group Managing Director, Punit Dalmia, during the fifth Regional Industry Conclave (RIC) held in Rewa district on Wednesday. The new plant is part of Dalmia Cement’s broader commitment to sustainability and clean energy, with the company aiming ... |
UltraTech Cement expands capacity to 156Mta17 October 2024, Published under Cement NewsUltraTech Cement , the cement flagship of the Aditya Birla Group, has announced the completion of a significant capacity expansion, bringing its total cement production capacity to 156.06Mta. This addition forms part of the company's broader 22.6Mta capacity expansion plan, originally announced in June 2022. With this development, UltraTech solidifies its position as the third-largest cement producer globally, excluding China, with a consolidated grey cement capacity of 154.86Mta. This e... |
Lucky Cement announces new leadership15 October 2024, Published under Cement NewsOn 13 October, Lucky Cement 's Company Secretary, Ali Shanab, informed the Pakistan Stock Exchange (PSX) that the board of directors has appointed Mr Muhammad Sohail Tabba as the chairman of the board. Additionally, Mr Muhammad Ali Tabba has been appointed as the chief executive of the company, both of these appointments will be for a term of three years. Mr Muhammad Sohail Tabba is one of Pakistan's most prominent business leaders, the head of numerous businesses and export houses un... |
Indian cement industry growth expected to slow in FY24-2515 October 2024, Published under Cement NewsIndia's cement industry is projected to experience a slower growth rate of 7-8 per cent this fiscal year, reaching 475Mt, according to a Crisil report. This marks a slowdown from the double-digit growth recorded in the last two financial years. The first half of FY24-25 saw modest growth of just three per cent, attributed to a prolonged heatwave and labour shortages due to general elections. However, the second half is expected to see improved performance, driven by a revival in rural hou... |
JSW Cement adds 2Mta of capacity to its grinding plant in Karnataka02 October 2024, Published under Cement NewsJSW Cement has expanded its Vijayanagar plant in Karnataka by adding an additional 2Mta of grinding capacity, bringing the total capacity at the site to 6Mta. The project, which involved an investment of INR461m (US$5.5m), is part of the company’s strategic plan to scale its overall production capacity to 40.8Mta through both brownfield and greenfield developments. CEO Nilesh Narwekar highlighted that this capacity increase supports JSW Cement's sustainability goals while preparing for ... |
Dewan Cement Ltd reported a net loss of US$1.72m for FY23-2402 October 2024, Published under Cement NewsDewan Cement Ltd (DCL), a major cement producer in Pakistan, has reported a net loss of PKR509.7m (US$1.72m) for the financial year ended 30 June 2024 (FY23-24), slightly improving from a loss of PKR586.3m in the previous fiscal year. The company’s net turnover increased by 10.5 per cent to PKR22.319bn, up from PKR20.199bn in the FY22-23 period. Despite the rise in turnover, the cost of sales also grew, reaching PKR21.925bn, resulting in a gross profit of PKR993.9m, more than double the... |
JK Cement plans to invest INR30bn in capacity expansion18 September 2024, Published under Cement NewsIndia-based building materials manufacturer, JK Cement , has announced plans to invest INR30bn (US$358.4m) to increase its capacity by 25 per cent, from 24Mta to 30Mta by the end of FY25-26. Nearly INR8bn of the investment has already been made, with work on the brownfield expansion in Panna, Madhya Pradesh, and the greenfield grinding unit in Buxar, Bihar, underway. At Panna, the investment includes clinker capacity expansion, costing approximately INR24bn, while the greenfield unit ... |