Cement News tagged under: india
Aditya Birla Group bids for Lafarge, Holcim units22 October 2014, Published under Cement NewsIndia's Aditya Birla Group submitted bids on Monday to buy Holcim and Lafarge assets. UltraTech Cement and other Aditya Birla Group companies have put in bids for Lafarge and Holcim plants in Brazil and the Philippines, valued at US$1.4bn. The group had started operations in the Philippines several years ago and earmarked Brazil as a key place for expansion three years ago. "Aditya Birla group will be unable to bid for assets carved out of the Lafarge-Holcim merger in some of the mark... |
India moves towards ending coal monopoly21 October 2014, Published under Cement NewsThe Indian government has taken a cautious step towards ending the coal monopoly as its plans to allow private players to mine and sell coal, a move that is expected to benefit cement companies amongst others. The cabinet has approved auction of 74 of the recently-cancelled 204 coal blocks in the next 3-4 months. While state-owned companies will be allocated coal blocks on a priority basis and will not have to bid in the auction, private companies will be able for the first time to buy bl... |
India: VP Cements plans a two-phase plant21 October 2014, Published under Cement NewsVP Cements is planning a two-phase integrated cement project in the village of Gundlakunta, Andhra Pradesh. Land acquisition is in progress, but both phases still await environmental clearance. The total cost of the project is INR16bn (US$261m). Phase one will consist of a 3.2Mta cement project, a 2Mta clinker project and a 1x40MW coal-based captive power plant (CPP) with work expected to commence in 2015. Work on the second stage, which will double the phase one capacity, will start in 2... |
Sagar Cement posts INR2.82 net profit20 October 2014, Published under Cement NewsIndia-based reported a net profit of INR2.82bn in the quarter ended 30 September 2014, compared with a INR115m loss the previous year. The cement maker’s revenues rose by 23.6 per cent to INR1.25 in the July-September quarter. The other income of the cement company included INR3.49bn profit that was realised from the sale of its stake in tthe joint venture with Vicat group. |
India: Ambuja Cement launches Ambuja Plus20 October 2014, Published under Cement NewsAmbuja Cement has launched a new cement product, Ambuja Plus, in the state of Maharashtra, India. This innovative product is created with an advanced formula, offering additional strength than ordinary Portland cement, claims the company. Ambuja Plus is aimed mainly at small consumers or individual house builders. MD and CEO Ajay Kapur said: “Ambuja Plus is special quality PPC [Portland Pozzolan] cement with advanced SPE technology that makes concrete stronger and easier to work with. It i... |
India: cement producers target government road projects20 October 2014, Published under Cement NewsHigh-ranking representatives of 17 cement manufacturers promised road transport minister, Nitin Gadkari, that their companies would put in lower bids to encourage development projects, according to the Times of India Group. The ministry has now invited bids asking manufacturers to quote the lowest price ex-factory price that they can offer to road developers. Soon after taking charge of the ministry, Gadkari had proposed long-term contracts with cement majors across the country to purchase... |
Holcim and Lafarge to identify non-core assets in India for divestment16 October 2014, Published under Cement NewsHolcim and Lafarge have begun an internal process in India to identify assets which have to be divested to adhere to the requirements of the country’s Competition Commission. Two sources familiar with the matter told The Economic Times of India that: “Both the companies are running processes to understand which are the plants and operations which are not linked to their strategic global plans," says one of the persons quoted above. "These plants and operations will be divested." "The proc... |
JSW Group seeks to set up new Karnataka unit15 October 2014, Published under Cement NewsJSW Group, is planning to set up a 3Mta clinker plant at Chittapur in Gulbarga district, in Karnataka state. The company is in the process of seeking statutory approvals to undertake exploratory drilling at a limestone deposit in Gulbarga. "Gulbarga project is still in preliminary stages and we have approached the ministry of environment and forests (MoEF) for permissions. It will take at least two to three years to materialise," Pankaj Kulkarni, director of JSW Cement Ltd told Business St... |
UltraTech Cement appoints two additional independent directors14 October 2014, Published under Cement NewsUltraTech Cement Ltd, India's largest cement producer, on Monday said it has appointed Renuka Ramnath and Sukanya Kripalu as additional independent directors on its board. The appointments are effective as of 11 October 2014, the Adity Birla Group company said in a filing to the exchanges. Ramnath is the founder of Mutliples, a US$400m private equity fund, and is a former managing director and chief executive officer of ICICI Venture. Kripalu is director at Sukanya Consulting and was the ... |
UltraTech reportedly eyeing further Jaypee units08 October 2014, Published under Cement NewsUltraTech Cement is believed to be looking at possible acquisition of Jaypee Group's three cement plants in Madhya Pradesh, according to local press reports. While investment banking sources involved in the talks said that the discussions are currently underway for a possible deal, a spokesperson for UltraTech declined to comment. In the June quarter, UltraTech completed the acquisition of Jaypee Cement Corp’s units in Gujarat, comprising an integrated unit at Sewagram and a grinding un... |