Cement News tagged under: india
Birla Corp acquires stake in AMP Solar Clean Power21 November 2019, Published under Cement NewsBirla Corp and RCCPL, its wholly-owned subsidiary, have acquired 26 per cent ownership (7.8 per cent and 18.2 per cent, respectively) of AMP Solar Clean Power. Birla Corp is planning to purchase solar power for its grinding units in Raebareli, Uttar Pradesh, (Raebareli Cement Works and Raebareli Hitech Cement) and RCCPL’s Kundanganj grinding facility. This will be achieved under the group’s captive scheme that stipulates at least a 26 per cent participation in the equity capital of the so... |
CMA receives award for reducing single-use plastic campaign21 November 2019, Published under Cement NewsThe Cement Manufacturers Association (CMA) atteneded at an event organised by the Department of Drinking Water and Sanitation, Government of India, on 19 November 2019, in New Delhi where an award was presented to Mahendra Singhi, President, CMA and Aparna Dutt Sharma, Secretary General, CMA, by the Ministry of Jal Shakti. In his Independence Day speech on 15 August 2019, the Prime Minister spoke of the need to reduce single use plastic in the country. Subsequently, the Ministry of Jal Sh... |
UltraTech facility begins receiving dry waste for RDF use20 November 2019, Published under Cement NewsIndia’s UltraTech Cement has begun receiving dry waste at its unit in Jaggayyapet, Andhra Pradesh, sent from Vijayawada Municipal Corp’s (VMC) recycling facility in Ajit Singh Nagar. As part of the year-long memorandum of understanding signed between the two parties, the producer will receive 50tpd of waste. “Around 50t of dry waste collected by the VMC, which comprises of discarded plastic, will be used for generating refuse-derived fuel (RDF) at cement kilns. It is a win-win situation for... |
HeidelbergCement outlines plans to raise Indian capacity19 November 2019, Published under Cement NewsHeidelbergCement is expecting to take both organic and inorganic routes to increase capacity to 20Mta from 12Mta in India, according to The Hindu. "We are looking for cement companies with a capacity ranging from 5-10Mta," said J N Cooper, managing director of HeidelbergCement’s Indian operations. “We are in talks with cement firms that do not want to get into the National Company Law Tribunal. But we are unable to give more details.” Regarding pending projects, he said the company is awai... |
Shree Cement reportedly raising over INR20bn through QIP offering19 November 2019, Published under Cement NewsIndia’s Shree Cement Ltd is reportedly in an advanced stage of raising more than INR20bn (US$278.36m) through a qualified institutional placement (QIP) offering, according to the Mint. "The money will be used for capex and debt reduction. They have been meeting investors for this purpose and are targeting to close this fundraise within this quarter," said a source for the Mint. "They could raise anywhere between INR20-INR30bn depending on demand from investors." In October the company had ... |
The India Cements Ltd may put capex plans on hold12 November 2019, Published under Cement NewsThe India Cements Ltd said it may need to put its capital expenditure plans on the backburner if the current economic slowdown persists, reports The Times of India. "We may hold back capital expenditure," said N Srinivasan, The India Cements Ltd’s vice chairman and MD. "I want to expand. I want to go there (Madhya Pradesh). But, I want to be sure before I go there," he added. The southern Indian-based cement producer’s plans include a greenfield cement plant in Madhya Pradesh and a grindi... |
India’s demand growth shifts gear11 November 2019, Published under Cement NewsThe April-June 2019 quarter saw India’s cement growth slow, putting the brakes on a long spell of double-digit advances. Higher cement prices and lower input costs have helped support producer profit margins, but with no immediate demand recovery in sight, government infrastructure and affordable housing projects are the main beacons of light. The Indian cement sector has seen another interesting quarter with the economy and pace of cement consumption slowing, the sustainability of... |
Star Cement sees 16% rise in net profit07 November 2019, Published under Cement NewsIndia-based Star Cement reported a standalone net profit of INR550.8m (US$7.8m) for the quarter ended 30 September 2019, up 16.2 per cent YoY from INR474m in the year-ago period. The company’s net revenues increased by seven per cent to INR3.735bn in the July-September quarter whencompared with INR3.49bn in July-September 2018. Operating expenses were up 9.5 per cent YoY to INR3.105bn from INR2.934bn in the equivalent quarter of the previous year while other income surged from INR2.7m to... |
JK Cement’s Satha line expected to be ready in December07 November 2019, Published under Cement NewsIndia-based JK Cement is setting up a clinker grinding unit in Satha village, Aligarh district, Uttar Pradesh. The INR2.664bn (US$37.6m) project will have a capacity of 2Mta and will be built on a 6.83ha plot. Equipment will be supplied by FLSmidth. Following receipt of environmental clearance, civil work has been completed and equipment installation is currently in progress.. Completion is scheduled for December 2019. In addition, the company has commissioned its grey clinker productio... |
Birla Corp sees 450% rise in net profit06 November 2019, Published under Cement NewsIndia's Birla Corp has seen a 450 per cent increase in net profit to INR880m (US$12.4m) in the 2QFY19-20, compared with INR160m in the corresponding period of the previous fiscal. Revenue advanced 10.9 per cent YoY to INR16.47bn, while EBITDA surged 61 per cent to INR3.32bn. The EBITDA margin climbed to 20.1 per cent from 13.9 per cent. The company has attributed the positive results to higher realisation from premium and blended cement sales, and cost rationalisation. Capacity utilisatio... |