Cement News tagged under: Southern Asia
Indian cement sector to face revenue decline in Q2FY2025 amid weak demand10 October 2024, Published under Cement NewsIndia's cement sector is expected to witness a 7.2 per cent year-on-year (YoY) drop in revenues for Q2FY25, driven by an 8.7 per cent YoY fall in realisations, according to a report by Sharekhan, a leading retail brokerage firm in India. The report highlights that despite a marginal volume growth of 1.7 per cent YoY, the sector continues to face weak demand, primarily due to sluggish infrastructure projects and adverse weather conditions. The monsoon season, combined with a delay in gove... |
Energy development organisation seeks licence to power cement industry with 18MW Hydel plant09 October 2024, Published under Cement NewsPakhunkhwa Energy Development Organization (PEDO) has submitted an application to NEPRA for a bulk electric power supply licence for its 18MW Pehur Hydel Power Plant in District Swabi. This plant, which has a total generation capacity of 18MW, will supply electricity to industrial consumers in the Gadoon Amazi Industrial Estate, including several cement-related companies. The electricity will be wheeled through the network of Peshawar Electric Supply Company (PESCO) via a 132kV transmissi... |
Dalmia Bharat acquires 25% stake in solar power producer03 October 2024, Published under Cement NewsDalmia Bharat Ltd , through its subsidiary Dalmia Cement (Bharat) Ltd, has entered into an agreement to acquire a 25.38 per cent stake in Bijlee Kandasamy Pvt Ltd for INR33m. This acquisition will enable Dalmia Cement to become a captive consumer of Bijlee Kandasamy's solar power generation, allowing the company to source up to 11MW of solar energy in Tamil Nadu. The move aligns with Dalmia Bharat's broader commitment to achieving 100 per cent renewable electricity by 2030 and its goal to... |
Confidence Cement invests US$68m in new facility in Narsingdi02 October 2024, Published under Cement NewsConfidence Cement PLC , a leading cement producer based in Bangladesh, is investing BDT8.15bn (US$68.2m) to construct a new production facility on 10 acres of land in Narsingdi. This expansion comes amid a slowdown in construction across Bangladesh following political changes, yet the company is positioning itself to meet future demand in Dhaka and surrounding regions. The new unit, Confidence Cement Dhaka Ltd, will have a daily production capacity of 6000tpd and is expected to create ar... |
Indian cement producers prepare for major expansion12 September 2024, Published under Cement NewsIndian cement producers are set to invest approximately US$14.3bn over the next four years, aiming to increase capacity by around 25 per cent, or an estimated 160-170Mta of production capacity. The expansion will be driven primarily by the three leading cement producers in India: UltraTech , Ambuja , and Shree Cement . Collectively, these companies will account for 70 per cent of the country’s capacity increase. The producers’ capital expenditure costs for these expansions is expected to... |
Indian Supreme Court ruling assigns duties to mining operations22 August 2024, Published under Cement NewsOn 14 August 2024, the Supreme Court of India issued a ruling allowing states to impose taxation and royalties on minerals separately from government duties. The ruling also allows states to recover historic duties, which may lead to substantial financial obligations for major industries such as cement, steel, and coal. The ruling decreed that royalties paid to states are not considered taxes under the Mines and Minerals (Development and Regulation) Act of 1957. This means that relevant c... |
Shree Cement posts 1Q results08 August 2024, Published under Cement NewsIndia-based Shree Cement reported its 1QFY24-25 results on 6 August 2024, with the company’s revenue from operations declining by 4.7 per cent QoQ, from INR50.7bn (US$603.9m) to INR48.4bn. The company's revenue from operations saw marginal growth of 1.7 per cent, from INR50.3bn in the first quarter of 2023 to INR51.5bn in the same period of 2024. The company's profit before tax for the quarter was INR3bn, down 62.1 per cent from INR8bn in the previous quarter. 1Q profit before tax fe... |
Ambuja lays foundation stone at new Bihar grinding facility06 August 2024, Published under Cement NewsAmbuja Cement Ltd , part of Adani Cements , has announced a cement grinding unit in Bihar, investing INR16bn (US$190.8m). Bihar Chief Minister, Nitish Kumar, laid the foundation stone for the facility at Warsaliganj in the Nawada district on 4 August 2024. The unit, Ambuja Cement’s first project in Bihar, will have a full capacity of 6Mta and be completed in three phases on 27,4781.6m 2 (67.9 acres) of allotted land. The first phase, costing INR11bn, targets operation by December 2025, ad... |
UltraTech agrees to acquire India Cements grinding facility23 April 2024, Published under Cement NewsIndia’s leading cement producer, UltraTech Cement , has agreed to purchase a 1.1Mta grinding facility in Parli in Maharashtra for INR3.15bn (US$37.8m) from India Cements Limited . UltraTech, a subsidiary of the Aditya Birla Group, will also invest INR5.04bn to expand its total capacity by 3Mta, including the Parliament facility. The acquisition of the facility, as part of an asset purchase agreement, includes a captive railway siding. The company has stated that purchase will help ... |
Indian cement stocks boosted 3% due to increasing bag prices09 April 2024, Published under Cement NewsIndian cement stocks have seen significant price increases, as major companies have imposed price hikes on bags of cement (averaging INR10-INR15 per bag). The five key producers ( UltraTech Cement , Shree Cements , Ambuja Cement , ACC and Dalmia Bharat ) all experienced gains in share price, ranging between one and three per cent on 3 April 2024. Sources in the industry have reported that various companies in the region have announced prices increases of INR10-15 per bag in t... |