Cement News tagged under: India
India January cement dispatches up 9.4%22 February 2012, Published under Cement NewsIndian cement dispatches during January 2012 increased by 9.4 per cent – the third straight month of high growth due to a low base effect (January 2011: +1.1 per cent). Dispatches in January 2012 reached 220.4Mt compared to 18.6Mt in the year-ago period. Cement production rose 10.6 per cent to 20.6Mt, according to figures from the Cement Manufacturers Association of India and Holcim. For the April-December 2011 period, demand rose 17 per cent in th western market, 10 per cent in the north... |
Shriram EPC to enter cement business through acquisition21 February 2012, Published under Cement NewsShriram EPC, part of the financial services major Shriram Group, is expected to enter the Indian cement sector by picking up a majority stake in Sree Jayajothi Cement, according to local press reports. Should the move be approved, Cimpor is thought to be in line as the group seeks a strategic European investor. Shriram EPC's board is said to have approved acquiring a significant equity share capital of the cement producer by partially converting the dues owned by Sree Jayajothi into equit... |
India: Jaypee Cement comes to city15 February 2012, Published under Cement NewsJaypee Group this week launched its brand Jaypee Cement in Hyderabad with the creation of a wide network to make the cement available state-wide through more than 1100 dealers. With an installed capacity of over 31Mta from 24 cement plants across the country, Jaypee is set to increase its cement capacity to 36Mta with forays in the state of Hyderabad and a new cement plant in Krishna district. “We are third largest cement manufacturer in the country and the new plant in Krishna district ... |
Jaiprakash Associates 3Q net profit down 12%15 February 2012, Published under Cement NewsJaiprakash Associates' net profit fell by 12% to INR2.05bn (US$41.6m) in the third quarter of the current fiscal, mainly on higher interest outgoings. The diversified company, having interest in cement, real estate, construction and power among others, had made INR2.33bn net profit during the October-December quarter of last fiscal, it said in a filing to the BSE today. "The EBIDTA for the quarter is higher by INR860m over the corresponding quarter of previous year. However, due to high... |
Pakistan: FY12 cement sales helped by local dispatches14 February 2012, Published under Cement NewsFY12 has been witnessing a drop in Pakistan’s export sales, whereas domestic cement dispatches have been rising. The latest numbers released by the All Pakistan Cement Manufacturers Association (APCMA) up until January FY12 show a continuation of this trend. Local dispatches improved by 7% YoY from 12Mt in 7MFY11, while during January 2012 alone, local deliveries improved by nearly 9% to 1.9Mt versus January 2011. While the surge in local sales was witnessed in both the northern and sou... |
India: JK Lakshmi Cement 3Q profits zoom14 February 2012, Published under Cement NewsJK Lakshmi Cement posted a net profit of INR492.4m (US$9.99m) for the quarter ended 31 December 2011 as compared to net profit of INR46m (US$0.9m) for the same period last year, representing steep rise of 10.7 times. The company’s total income rose from INR3153.3m for the quarter ended 31 December 2010 to INR4388.1m for the quarter ended 31 December 2011, an increase of 39.15%. JK Lakshmi attributed the rise in profitability to a nearly 13% increase in its sales volume. The company’s ... |
Jaypee Cement set to launch new Andhra Pradesh plant, India10 February 2012, Published under Cement NewsJaypee Cement’s new 5Mta cement plant, situated in Krishna District, Andhra Pradesh, will commence next month, Business Line of India reports. The new facility will cater mainly to the southern markets, Narayan Rao, senior general manager of the Jaypee Group said during a launch brand in the state. The company is also planning to increase capacity of the Andhra Cement plant. “Over the next six months, the work to increase its capacity from existing 2Mt to 3Mt will commence,” Mr Rao said.... |
Action against cement companies delayed, India09 February 2012, Published under Cement NewsAction against the eight cement companies alleged of flouting the forest and environment norms in the Jaintia Hills district of Meghalya, India has been further delayed. Local press report that the delay is due to the Central empowered committee (CEC) directives to the government of Meghalaya to constitute a Joint investigation committee (JIC) to re-examine the findings of the state constituted High level committee (KLC) findings that indicted eight cement plants operating in Jaintia Hill... |
Pakistan cement industry pin hopes on MFN status to India08 February 2012, Published under Cement NewsPakistan and India are likely to discuss the issue of Most Favoured Nation (MFN) during a visit this week by an India trade delegation, headed by its Commerce Minister Anand Sharma, visits Pakistan. Both governments are expected to sign formal agreements including customs cooperation, certification of goods and also address challenges being faced by Pakistan exporters into India. Pakistan’s cement industry is demanding the removal of non-tariff barriers, more freight trains to India, the o... |
JK Lakshmi Cement board OKs buyback of shares, India08 February 2012, Published under Cement NewsJK Lakshmi Cement said its board of directors has approved the buyback offer of 13.5m equity shares at a price not exceeding INR70/share for a total consideration of up to INR975m, India Investment News reports. "The Board of Directors of the company at its meeting held on February 7, 2012, inter-alia, have approved the buyback of equity shares up to an amount of INR97.50 crore (INR 975m), at a maximum price of INR70 per equity share ie 1.39 crore equity shares of INR5 each from the open ... |