Cement News tagged under: indian subcontinent
Cement Manufacturers' Association applauds 2024-25 budget26 July 2024, Published under Cement NewsThe Cement Manufacturers’ Association (CMA), the independent body of large cement producers in India that represents almost 75 per cent of the country’s total installed cement capacity, has applauded the Union Budget 2024-25. The budget, presented by the Finance Minister, Nirmala Sitharaman, on 23 July, set out a detailed plan for India’s economic growth with a strong emphasis on infrastructure development, employment generation and energy security. Speaking about the budget, Neeraj Akhou... |
Nepal’s cement and clinker export triple to NPR3.85bn24 July 2024, Published under Cement NewsCement and clinker exports from Nepal tripled to NPR3.85bn (US$28.7m) in FY23-24 when compared with exports in the previous year. According to Department of Customs data export earnings from cement were NPR1.97bn and those from clinker were NPR1.88bn. The surge has been attributed to the introduction of an eight per cent cash incentive on the export of mine-based products by the government. The Nepal Trade Integration Strategy (NTIS) 2023 identified cement as one of the potential export... |
Saurashtra Cement publishes increase in revenue24 July 2024, Published under Cement NewsSaurashtra Cement Ltd has reported consolidated revenue from operations of INR17.65bn (US$210m) in FY23-24 (ended 31 March 2024), up from INR16.45bn (seven per cent YoY). EBITDA for the year was INR1.2bn, compared to INR572m in FY22-23, reflecting a 77.1 per cent YoY increase. Net profit for the year before tax came in at INR565m, marking an 88 per cent YoY increase. Blended cement sales growth was higher than the overall sales growth and clinker production was up nine per cent than th... |
Road spending to boost Indian cement demand23 July 2024, Published under Cement NewsIndia’s cement companies are expected to benefit from a boost in road infrastructure spending. In her Budget 2024 speech, Nirmala Sitharaman, India’s Union Finance Minister announced an investment of INR260,000m (US$3106m) in highway development in Bihar. According to Mint, key projects includes the construction of a two-lane bridge over the Ganga and new highways such as the Patna-Purnea Expressway and Buxom-Bhagalpur Expressway. The news is expected to bring renewed cement demand, b... |
UltraTech sees sales increase in 1QFY24-2522 July 2024, Published under Cement NewsUltraTech Cement Ltd , part of Aditya Birla Group, has reported consolidated net sales of INR178,790m (US$2.14bn) in the first quarter of FY24-25 (ended 30 June 2024). This compares to INR175,190m in the same period a year earlier. Profit before interest, depreciation and tax fell from INR32,230m 1QFY24-25 to INR32,050m in the same period a year later, while profit after tax advanced slightly from INR16,880m to INR16,970m. According to the company, the quarter under review saw a six per... |
Cochin Port opens fourth terminal15 July 2024, Published under Cement NewsA new cement terminal has entered operation on a 1.14ha plot at Ernakulam Wharf, Kerala, India. The Cochin Port Trust launched the port’s fourth terminal, which is expected to handle 0.3Mta of cement. The first vessel to enter the terminal was the Penna Suraksha, the largest self-discharge vessel in Asia with a discharge capacity of 1000tph. The 25,000t cargo from Krishnapatnam will be bagged at Penna Cement Industries’ plant at the port. |
Oriana Power awarded INR1.55bn solar plant order15 July 2024, Published under Cement NewsOriana Power received a new order for a 40MWp solar plant in Rajasthan, India. The INR1.55bn (US$18.5m) contract was awarded by an undisclosed cement producer and includes the engineering, procurement and construction, commissioning, operation and maintenance of the solar plant. The order is scheduled to complete its execution in nine months' time. The operation and maintenance period is 25 years from the commissioning date. |
CCP hosts session on the disclosure of material information on cement bags12 July 2024, Published under Cement NewsOn Thursday, 11 July, Pakistan’s Competition Commission of Pakistan (CCP) held a stakeholder engagement session regarding the ‘Manufacturing/Packaging' and 'Expiry/Best Before’ dates on cement bags. This session included representatives of the Pakistan Standards and Quality Control Authority (PSQCA), All Pakistan Cement Manufacturers Association (APCMA) and domestic cement producers. Saeed Ahmed Nawaz, chair of the session, stressed the urgency of these measures in relation to consumer pr... |
Continuing domestic weakness weighing on Pakistan cement05 July 2024, Published under Cement NewsTotal cement dispatches in Pakistan dropped 12.6 per cent YoY to 3.552Mt in June 2024 from 4.063Mt a year earlier, according to the All Pakistan Cement Manufacturers Association (APCMA). Local dispatches contracted 11.9 per cent YoY to 3.079Mt from 3.487Mt in June 2023. Exports also fell in June, declining 17.9 per cent YoY to 472,865t down from 576,309t a year earlier. North-south dispatches Dispatches from cement plants in the north of Pakistan shrank 7.7 per cent YoY to 2.723Mt in J... |
Sri Lanka considering price control for cement02 July 2024, Published under Cement NewsSri Lanka’s Trade Minister Malin Fernando said the country was considering the introduction of price controls on cement. The step followed cement companies’ announcement that they would be reducing prices by LKR150 (US$0.50) to LKR2250/bag. Mr Fernando said: “I don’t accept this reducing the price by 150, I want the maximum retail price to be 2000-2500.” “We will announce a maximum retail price as soon as the companies discuss,” Fernando said. “If they do not comply, the consumer affairs ... |