Cement News tagged under: india
Grasim Industries announces US$392m capex30 August 2022, Published under Cement NewsIndia’s Grasim Industries, part of the Aditya Birla Group , is planning capex of INR31,170m (US$391.9m) in its existing lines of business this fiscal year, primarily for the creation of new capacity and modernisation of existing plants. This compares to INR19,580m in the previous fiscal. According to Kumar Mangalam Birla, chairman of Grasim Industries, the investment does not include the group’s paints and B2B e-commerce businesses. In January 2021 Grasim announced plans to enter the pai... |
RCC Cements Ltd appoints company secretary and compliance officer29 August 2022, Published under Cement NewsIndia’s RCC Cements Ltd has appointed Shimpy Goyal as company secretary and compliance officer, effective from 25 August 2022. Ms Goyal succeeds Ms Bhawna Arora who resigned from the position on 18 August 2022. |
Adani orders Gebr Pfeiffer mill and classifier25 August 2022, Published under Cement NewsAdani , Gujarat, will supply the market in western India with high-quality cement from a Pfeiffer MVR mill through its subsidiary Adani Cement Industries Ltd. A grinding plant for 165tph of fly ash-pozzolan mixed cement is to be built in the industrial region of Dahej in Gujarat. It will be equipped with an MVR 3750 C-4 with integrated high‑efficiency classifier SLS 4000 VC and a drive with a rated power of 3090kW. For the cement producer, the active redundancy of the four grinding roll... |
Gujarat Sidhee Cement reports revenue fall22 August 2022, Published under Cement NewsGujarat Sidhee Cement Ltd (GSCL) has recorded total income of INR1.89bn (US$23.69m) in the quarter ended 30 June 2022, compared to INR2.04bn in the quarter ended 31 March 2022. Net profit over the same period has advanced from INR32.2m to INR54.9m, according to Construction News. The India-based company runs one plant located in Sidheegram in Sutrapada Taluka, Gujarat State. GSCL also announced the resignation of Dr Rahul Gupta as non-executive and non-independent director of the com... |
Shiva Cement turnover down 88%22 August 2022, Published under Cement NewsIndia’s Shiva Cement has reported turnover for FY2021-22 of INR34.65m (US$433,491), down 88 per cent YoY, primarily due to the suspension of plant operations on the back of ongoing project activity. EBITDA over the same period fell four per cent to a loss of INR80.17m, while profit after tax fell 16 per cent to a loss of INR255.2m. This was due to lower sales volumes, which fell 89 per cent YoY in FY2021-22, along with an increase in the cost of production. “Our main project, the 40... |
Indian cement's fuel strategy alters19 August 2022, Published under Cement NewsWhile the Ukraine-Russian war rages on, the impact on fuel prices can clearly be seen across the globe. Indian cement manufacturers are having to reconsider their strategies for energy consumption and fuel sourcing. Changes in imports have already started to see Indian cement producers seek higher volumes of petcoke imports and cheaper trade routes for thermal coal. Much of the petcoke that Indian cement manufacturers have imported recently has come from Venezuela for the first time, accord... |
JK Cement sees 33% increase in revenue19 August 2022, Published under Cement NewsIndia’s JK Cement has reported revenue from operations of INR21,664m (US$271.5m) in the quarter ended 30 June 2022. This compares to INR16,336m in the same period a year earlier. Net profit over the same period has fallen from INR2082.6m to INR1811.4m. Total expenses in the quarter ended 30 June 2022 came in at INR19,179m, versus INR13,557m in the comparable period in 2021, with power and fuel expenses rising from INR2994m to INR4856m. The company’s operating margin in the quarter e... |
UltraTech Cement announces fresh capex plans18 August 2022, Published under Cement NewsUltraTech Cement 's chairman, Kumar Mangalam Birla, addressed shareholders at the company's 22 nd Annual General Meeting (AGM) stating that the company’s Board of Directors approved fresh capex of INR128,860m (US$1623m) towards increasing capacity by 22.6Mta with a mix of brownfield and greenfield expansions. The additional capacity would be created across the country by setting up integrated and grinding units as well as bulk terminals. Commercial production from these new capacities is... |
Indian producers turn to Venezuela for petcoke supplies17 August 2022, Published under Cement NewsThe surge in global coal prices has prompted Indian cement producers to turn to petcoke instead with the country importing significant volumes from Venezuela for the first time. According to Live Mint, trade data shows that India imported at least four shipments of 160,000t of petcoke from Venezuela, arriving in India between April-June 2022. A further 50,000t cargo is due to reach Mangalore, India, over the coming days and a 30,000t shipment is expected to depart Venezuela for India later t... |
CCI approves Adani acquisition of Ambuja and ACC stakes16 August 2022, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of Holcim ’s stake in Ambuja Cements Ltd and its subsidiary ACC Ltd by the Adani Group. The deal, which was initially entered into by Adani in May this year, will propel the group to become India’s second-largest cement producer. Holcim currently holds a 63.11 per cent share in Ambuja Cements and a 4.48 per cent share in ACC. Furthermore, Ambuja holds a 50.05 per cent stake in ACC. The acquisition will b... |