Cement News tagged under: india
ACC expects Indian demand to increase by 7% in 201818 June 2018, Published under Cement NewsIndia’s ACC expects the country’s cement demands to grow by seven per cent this year, assisted by infrastructure projects and the continued focus on rural development and affordable housing schemes. However, intense competition and insufficient consumption will lead to excess capacity, according to the producer. "The cement industry had a growth of six per cent in 2017 as against 5.1 per cent in the previous year. Around 66 per cent of its demand came from the housing sector, followed ... |
My Home Industries considers 50% capacity expansion13 June 2018, Published under Cement NewsIndia-based My Home Industries is considering a capacity expansion of up to 50 per cent over the next four years, according to the Business Line. The company has announced that its awaiting clearance from the board for the expansion, which would see it increase capacity to 15Mta from 10Mta. "Investment and location for expansion will be decided when we finalise the plans. We have the opportunity to expand in our existing locations also," said Vijay Vardhan Rao, marketing president, My Home... |
Sagar Cements commissions capacity expansion13 June 2018, Published under Cement NewsIndia's Sagar Cements Ltd has commissioned a capacity expansion at its grinding unit in Anakapally district, Andhra Pradesh, raising capacity to 1.5Mta from 0.3Mta. While the expansion scheduled to become operational by 31 December 2018, the facility was commissioned ahead of time on 10 June. |
Shree Cement announces investment plans11 June 2018, Published under Cement NewsIndia’s Shree Cement Ltd has announced a INR35bn (US$519.79m) capital expenditure budget for the current financial year. The amount includes INR20bn which will be spent to conclude the acquisition of UAE-based United Cement Co PSC by July, a few months ahead of plans, according to Subhash Jajoo, CFO, Shree Cement. Furthermore, the company plans to invest INR13-14bn to set up grinding units in Odisha, Jharkhand and West Bengal. Once completed, these plans would see the company raise its prod... |
Panyam Cement & Mineral Industries reports decline in net sales08 June 2018, Published under Cement NewsPanyam Cements & Mineral Industries, India, has reported financial results for the period ended 31 March 2018 with net sales of INR26.49m (US$0.391m) during the 12-month period ended 31 March 2018 as compared to INR65.03m (US$0.96m) during the corresponding period ended 31 March 2017. The company has posted net loss of INR23.41m for the period under review as against INR4.09m for the period ended 31 March 2017. The company has reported net sales of INR190.38m during the 12months ended 31... |
Bangladesh cement exports rise by 24% in 11MFY17-1807 June 2018, Published under Cement NewsBangladesh's cement industry export revenues saw a growth of 24.01 per cent during the first 11 months of FY17-18 (July 2017-May 2018), says data released by Export Promotion Bureau (EPB). The country exported cement and other materials worth of US$11.88m during the 11MFY17-18, compared to US$9.58m earned in the year-ago corresponding months. This represent a growth of over 24 per cent in exports YoY with India being the main destination for cement exports. The export figure also incl... |
Orient Cement announces expansion plans06 June 2018, Published under Cement NewsIndia’s Orient Cement has announced plans to invest INR36bn (US$536.8m) over the next five years to expand its existing production capacity to 15Mta from 8Mta, with investments for the expansion to begin in FY20, according to Mint. The company has applied for environmental clearance to expand clinker and grinding capacity in Devapur, Telangana, and Chittapur, Karnataka, alongside plans to construct additional grinding capacity in the eastern market. The expansion plans are expected to be co... |
Indian cement sector receives new investment04 June 2018, Published under Cement NewsThe Indian cement sector is receiving fresh investment as capacity utilisation rates increase, with at least six companies at various stages of announcing or implementing expansion plans, according to the Business Standard. Dalmia Bharat has recently announced plans for 8Mta of new capacity in Odisha, eastern India, at an investment cost of INR37.2bn (US$554.7m). "Looking at the demand for our premium products, we decided to add capacity and strengthen our leadership in east India. For... |
Orient Cement terminates agreement with Jaypee Group firms31 May 2018, Published under Cement NewsIndia’s Orient Cement has terminated the agreement to acquire two assets, Bhilai Jaypee Cement Ltd and the Nigrie cement grinding unit, from Jaypee Group firms for a total investment of INR19.46bn (US$288.23m), according to the Hindu Business Line. Orient Cement had signed a share purchase agreement (SPA) with Jaiprakash Associates Ltd (JAL) for 74 per cent equity shares of Bhilai Jaypee Cement. Furthermore, the company had signed a business transfer agreement (BTA) with Jaiprakash Power V... |
Prism Cement reports 13% net sales increase in 4QFY1830 May 2018, Published under Cement NewsIndia’s Prism Cement Ltd has reported a 13.4 per cent YoY increase in net sales to INR16.14bn (US$238.94m) for the 4QFY18. EBITDA surged 40.3 per cent to INR1.69bn, while its EBITDA margin expanded to 10.6 per cent. However, profit after tax decreased 10.6 per cent to INR627m. The cement sector saw sales volume growth to 1.7Mt in the quarter, according to India Infoline. EBITDA/t increased to INR819/t from INR580/t of the year-ago period. |