Cement News tagged under: Indian sub-continent
Pakistan cement producers looking at Afghanistan for coal26 July 2021, Published under Cement NewsDue to a spike in the price of coal imported from overseas countries, cement companies in Pakistan are considering the import of coal from Afghanistan. “Afghan coal is cheaper compared to the coal imported through sea links from other countries including South Africa,” said Taurus Securities analyst Mustajab Ali Kazmi. “Although the quality of Afghan coal is a bit inferior than the one imported from other countries, the companies resort to buying cheaper coal to increase margins.” However... |
Premium Mills' manager is imprisoned for keeping factory open26 July 2021, Published under Cement NewsPremium Cement Mills' plant manager in Charmukterpur, Munshiganj, Bangladesh, has been jailed for six months after violating COVID-19 restrictions by keeping the factory operating despite ongoing restrictions. The cement factory has been fined BDT1m (US$11,788) and has been closed for 13 days. A mobile court visited the plant on 23 July after on factory worker had died. The factory authorities in a notice had ordered the workers to join work on July 23 after Eid-ul-Azha holidays and thre... |
UltraTech Cement announce net sales of INR116.9bn23 July 2021, Published under Cement NewsUltraTech Cement Co reported that its consolidated net sales in 1QFY22 reached INR116.9bn (US$1.57bn) compared to INR76bn over the corresponding period of the previous year. Profit before interest, depreciation and tax was INR35,120m compared to INR23,570m. Profit before tax was INR25,270m and profit after tax was INR17,030m compared to INR11,530m and INR7940m, respectively. Production costs during the quarter increased 11 per cent YoY, mainly on account of higher fuel prices. Th... |
Nuvoco Vistas receives approval for its IPO22 July 2021, Published under Cement NewsNuvoco Vistas Corp Ltd has received approval of capital markets regulator Sebi to launch its INR15bn (US$679.35m) initial public offering (IPO). The Indian cement producer has a current cement capacity of 22.32Mta and operates 11 plants with units in Chhattisgarh, Jharkhand, West Bengal, Rajasthan and Haryana. Nuvoco Vistas, formerly Lafarge India Ltd, acquired Emami Cement in February 2020. |
Another busy export year for Pakistan’s cement industry21 July 2021, Published under Cement NewsThe Federal Bureau of Statistics (FBS) of Pakistan has released cement export data for the just-concluded FY20-21 (July 2020-June 2021). Both value and quantity of exports rose in this period when compared with the equivalent months in FY19-20. Pakistan's cement industry in 12MFY20-21 earned US$267.91m of export revenue by dispatching 7.815Mt of cement and clinker overseas, compared to US$259.44m from 7.11Mt of exports in the year-ago period. The export figures represent a noticea... |
ACC Ltd records 2Q21 profits after tax of INR5.69bn20 July 2021, Published under Cement NewsACC Ltd (Holcim group) has reported 2Q21 profits after tax of INR5.69bn (US$76m) up from INR2.71bn in 2Q20. In the April-June 2021 period under review, ACC Ltd recorded an EBITDA of INR8.69bn and net sales of INR38.1bn. Profit before tax reached INR7.58bn in the 2Q21, up from INR4.03bn in 2Q20. Sales volumes of cement reached 6.84Mt in the 2Q21, up from 4.76Mt in the 2Q20. Half-year sales volumes of cement reached 14.81Mt, up from 11.32Mt in the same period last year. Sridhar Bala... |
Shree Cement to open 3Mta Pune grinding plant in September19 July 2021, Published under Cement NewsShree Cement's 3Mta clinker grinding unit at Patas, Pune district in Maharashstra, India, is now expected to be completed soon with commercial production to commence in September, according to company official. The western Indian expansion, which sits on a 26.6ha plot, had been delayed due to the impact of the COVID-19 pandemic and right-of-way issues. The project, which represents an investment of over INR6bn (US$80.39m), will receive clinker from its group plant in Karnataka. In 2020... |
Bangladesh cement export revenue fall19 July 2021, Published under Cement NewsBangladesh's cement industry has earned export revenue of US$7.26m in the last fiscal year (July 2020-June 2021), compared to US$9.14m in the year-ago period, a fall of 20.6 per cent YoY. The figure also includes a minor amount of salt, stone and related products, according to the Bangladesh Export Promotion Bureau (EPB) data. Bangladesh exports 90 per cent of its cement to India. An increase in local consumption and high cost of exports attributed to lesser export, a research house... |
JSW Cement to sets its sights on IPO and green cement leadership16 July 2021, Published under Cement NewsThis week, we look at JSW Cement's plans for the future as it attracts interest from investors, intends to expand its domestic cement capacity and make an entry into India's ready-mix sector. JSW Cement is positioning itself closer to being listed on the bourses as preparations continue to move towards an initial public offering (IPO). It is now starting to dilute minority private equity stakes in the company to a selection of investors. JSW Cement is estimated to be worth in the regi... |
Jammu and Kashmir Cement awaits closure06 July 2021, Published under Cement NewsThe government of Jammu and Kashmir are close to winding up J&K Cement Ltd. This is the only government-owned cement manufacturing plant in Jammu and Kashmir, India. Officials informed that majority of the employees of J&K Cement Ltd have been put “on deputation” to some departments after the corporation was unable to generate revenue to clear its salary bills. "The JKCL is almost closed, now only an official order is required to wind it up. There is no staff except a few watchmen who ... |