Cement News tagged under: india
Cemex considering Brazil and India entry20 March 2018, Published under Cement NewsCemex CEO, Fernando González, said the company is considering entering two new emerging markets, Brazil and India, according to Construction LatinoAmericana. "We could make acquisitions if they meet the conditions we have set, but if we do not find an attractive option to buy, we will do something else," the executive said, referring to a possible repurchase of shares. During the Cemex Day 2018, the CEO said that the Board planned to ask shareholders in April to authorise the sale o... |
Vicat enters framework agreements with Andhra Pradesh and Karnataka20 March 2018, Published under Cement NewsDuring the state visit of French President Emmanuel Macron to India, the Vicat Group has entered into two framework agreements with the Indian states of Andhra Pradesh and Karnataka to support them with their economic development. The group has confirmed its long-term interest in the market by announcing plans to double capacity at its Kalburgi cement plant in Karnataka and the construction of a new grinding unit in Andhra Pradesh. “We have seen for ourselves over the past few yea... |
Imported petcoke prices rise to a multi-year high in March19 March 2018, Published under Cement NewsThe price of petcoke imported to India has risen to a multi-year high in March. This has been attributed to both increased demand and a supply shortage because of maintenance work undertaken by refiners, reports Mint. "Indian demand for petcoke is around 23-24Mta, while domestic supplies total up to around 14Mta. Suppliers are not in a rush to sell into the Indian market for there is some healthy demand from other regions like Latin America," said Deepak Kannan, managing editor of Asia The... |
Central Pollution Control Board issues notice to Parasakti Cement19 March 2018, Published under Cement NewsThe Central Pollution Control Board (CPCB) has served a ‘show-cause’ notice to Parasakti Cement for allegedly processing hazardous waste and operating without consent under the Hazardous Waste Management rules of the state, according to The Times of India. This follows a CPCB inspection of the Andhra Pradesh-based producer to verify compliance with emission norms. "The unit processes hazardous waste like battery scrap and waste grinding media scrap which have not been permitted by the Sta... |
JK Cement chairman says consolidation will help correct oversupply issue16 March 2018, Published under Cement NewsYadupati Singhania, chairman of JK Cement, has stated that consolidation will help correct the supply overhang in the cement industry, according to The Economic Times. "Consolidation in a way is good for the industry as it will take care of the excess supply," he said. "Today, there is at least 25 per cent excess supply as compared to the demand. This overhang is not good and it is the reason why you don't get the right price for your products." New capacity While consolidation may be g... |
Maharashtra government plans to give away fly ash for free15 March 2018, Published under Cement NewsFollowing its adoption of the fly ash utilisation policy last year, the Maharashtra government is now planning to give away the material for free. At its first meeting held on Tuesday, the Fly Ash Council told the state power generation company, Mahagenco, to work out how to provide the material to industries within 100km of its power plant, according to The Indian Express. "It has been observed that industries are discouraged from buying fly ash because of high transportation cost. Giving... |
UltraTech Cement secures winning bid for limestone block14 March 2018, Published under Cement NewsUltraTech Cement has emerged as the winner in the auction of Chhattisgarh’s Guma limestone block. Over 600 bids were made for the mine in an e-auction that lasted for 15 hours, according to The Times of India. The state will receive approximately INR73.9bn (US$1.14bn), marking a new record in revenue accrued from a mineral auction. The amount reached 138.3 per cent of IBM price (INR431/t), and is in addition to other fees payable to the state. "In the second phase of auctions, participat... |
State Bank of India may take five companies to NCLT14 March 2018, Published under Cement NewsBurnpur Cement and four Patni Group entities may be brought to the National Company Law Tribunal (NCLT) by the State Bank of India (SBI) for insolvency proceedings, according to The Economic Times. The Patni Group has defaulted on INR30bn (US$462.17m) of unpaid loans and dues, while Burnpur has defaulted on INR2.5bn. SBI has not commented on the allegations that it will take the borrowers to court. The bank currently accounts for the highest amount of gross non-performing assets in the cou... |
ACC and Ambuja to supply discounted cement to each other13 March 2018, Published under Cement NewsACC Ltd and Ambuja Cements have agreed to supply cement to each other at a discount, according to Bloomberg. The agreement also covers the supply of clinker, fuel, fly ash, slag and gypsum. According to the pricing formula, either company would receive a five per cent discount on the average net selling price. Cement prices in India Cement prices have fallen across India in March, according to the Kotak Institutional Equities’ dealer survey. Prices have decreased by INR9/bag (US$0.14/bag... |
Vicat announces plans for upcoming Indian projects12 March 2018, Published under Cement NewsVicat Group will invest INR5.1bn (US$78.4m) to set up a 1.75Mta greenfield grinding unit in Vizianagaram, Andhra Pradesh, India. The group’s subsidiary Kalburgi Cements Pvt Ltd has signed a memorandum of understanding with the Andhra Pradesh Economic Development Board (APEDB), an agency dedicated to attracting investments into the state. Vicat plans to invest approximately INR17.35bn in India over the next three years. Alongside financing the grinding unit, the money will also be used to ... |