Cement News tagged under: indian subcontinent
Ambuja Cements to acquire Sanghi Industries02 August 2023, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share of the stake and the value of the deal is not yet known. In the quarter ended 30 June 2023, Ambu... |
UltraTech commissions 1.2Mta Magdella expansion02 August 2023, Published under Cement NewsUltraTech Cement has commissioned its 1.2Mta brownfield capacity expansion at Magdella , Gujarat. The project takes the plant’s total cement capacity to 1.93Mta. According to the company, UltraTech's total grey cement production capacity in India now stands at 132.45Mta. |
Cement exports from Nepal pick up26 July 2023, Published under Cement NewsNepal exported cement representing a value of NPR779.3m (US$5.9m) in the FY22-23, supported by the government’s provision of a cash subsidy on cement exports. The country’s government provided up to eight per cent cash subsidy in addition to 2-15 per cent subsidy on electricity costs. Three domestic cement producers – Palpa Cement Industries Pvt Ltd , Arghakhachi Cement Ltd and Balaji Cement Industries – exported more than 1.04Mt of cement to India in the FY22-23, including 607,073t ... |
Orient Cement enters agreement to acquire stake in Ardeur Renewables25 July 2023, Published under Cement NewsIndia-based Orient Cement has entered into a share subscription and shareholders’ agreement with Ardeur Renewables and Cleantech Solar India on 21 July 2023 for the acquisition of a 28.52 per cent stake in Ardeur Renewables’ share capital. It will build two solar power plants with a capacity of 16MWdc in Karnataka and 5.5MWdc in Maharashtra under the Captive Scheme. With the INR95m acquisition, Orient Cement expects to meet its green energy requirement, optimise its energy cost and compl... |
Higher power prices send cement prices up in Pakistan25 July 2023, Published under Cement NewsConstruction costs in Pakistan are expected to rise due to a hike in industrial electricity tariffs, effective from 1 July 2023. As agreed with the IMF under its US$3bn standby arrangement, the government notified an increase in electricity prices for industrial customer by PKR7.50/kWh (US$0.026) and for residential customers by an average of PKR6.45/kWh, according an AHL Research assessment report. This increase in electricity prices is expected to reduce the deficit and circular debt and ... |
Dalmia Bharat sees revenue advance YoY in June quarter21 July 2023, Published under Cement NewsDalmia Bharat has reported its unaudited consolidated results for the quarter ended 30 June 2023, with revenue from operations coming in at INR36,240m (US$442m) over the three-month period. This compares to INR39,120m in the previous quarter, and INR33,020m in the same period a year earlier. Profit for the June 2023 quarter stood at INR1440m, down from INR6080m in the previous quarter and INR2050m in the same period in 2022. Total expenses in the quarter ended 30 June 2023 were reported... |
HeidelbergCement India reports marginal uptick in revenue19 July 2023, Published under Cement NewsHeidelbergCement India has reported revenue of INR5956.4m (US$72.5m) in the first quarter of FY2023-24 ended 30 June 2023. This is up marginally on the INR5898m seen in the same period a year earlier. Net profit over the same timeframe advanced 1.37 per cent to INR523.2m as fuel and packaging costs eased. The company’s total expenses over the quarter were INR5389m, up 1.51 per cent YoY, while sales volumes improved 8.2 per cent. HeidelbergCement India currently runs operations in ... |
India's CMA appoints new president19 July 2023, Published under Cement NewsIndia’s Cement Manufacturers’ Association (CMA) has appointed Neeraj Akhoury, managing director at Shree Cement Ltd , as its new president, and Parth Jindal, managing director of JSW Cement Ltd , as its vice-president. Mr Akhoury brings with him more than 30 years of experience in the steel and cement industries, having worked in various leadership roles in India and other emerging markets. "As a future direction, the Indian cement industry would like to reiterate its commitment to bein... |
Prism Johnson transfers land and mining lease to Ramco Cements10 July 2023, Published under Cement NewsPrism Johnson Ltd is transferring a number of limestone-bearing land parcels in Andhra Pradesh to Ramco Cements Ltd . The land, located in Kalvatla and Kotapadu, comprises 1420 acres. Prism Johnson is also transferring a mining lease granted by the Government of Andhra Pradesh covering 663 acres to Ramco Cements Ltd, reports Realty Plus. According to Prism Johnson, it originally purchased the land parcels to set up a greenfield cement plant but has subsequently decided that its “curre... |
Sri Lanka agrees maximum price for cement07 July 2023, Published under Cement NewsCement producers in Sri Lanka have reached an agreement with the country’s Minister of Trade, Nalin Fernando, to establish a maximum retail price for a 50kg bag of cement. According to NewsWire, the agreed price has been set at LKR2300/bag (US$7.39/bag). Sri Lanka is currently home to one integrated cement plant and four grinding units, with a total cement production capacity of around 8Mta. |