Cement News tagged under: international
India: cement makers start shutting down plants05 January 2009, Published under Cement NewsFaced with an oversupply and low utilisation levels, Indian producers have started shutting down their plants in the north. ACC, the country’s biggest cement manufacturer, had announced the closure of one of its two clinker kilns at Gagal, Himachal Pradesh for 15 days with effect from December 16 as excess stock of clinker had been piling up since August. The plant had to be reopened on January 1, 2009, but it has not started operations yet and is unlikely to do so anytime soon, a company ... |
Surge in capacity may depress Saudi prices05 January 2009, Published under Cement NewsA surge in production capacity in the short term could cause competition among Saudi Arabia’s cement companies and this could depress prices and affect their performance and creditors, a leading Saudi bank said yesterday. The National Commercial Bank (NCB), Saudi Arabia’s largest bank, said cement sales in the Kingdom slowed down in the fourth quarter of 2008 but demand was higher throughout the year despite the current global crisis. The government allocated SAR165bn for projects in the 2... |
Tancem workers on strike, Tamil Nadu05 January 2009, Published under Cement NewsProduction in the state-owned Tamil Nadu Cement Corporation’s (TANCEM) plant has come to a grinding halt as majority of workers are on strike, protesting against the management’s refusal to offer a profit incentive Official sources said that due to the strike, production of about 1500t of cement production was affected. As per the agreement reached between the Cement Plants Association and the representatives of various trade unions in April last year, the cement factory managements were t... |
Anhui Conch to spend CNY3.17B to raise output05 January 2009, Published under Cement NewsAnhui Conch Cement Co said it will spend CNY3.17bn to increase production capacity by 18,000tpd, to meet strong demand for cement driven by the rebuilding of western China following the Sichuan earthquake in 2008. The Chinese company will use internal resources of CNY1.97bn and CNY1.2bn from its CNY11.48bn yuan-denominated A-share issue in May to fund the expansion, it said in a statement late Wednesday. The plan is subject to the approval of shareholders, but the company already started b... |
Iran production capacity at 55Mt05 January 2009, Published under Cement NewsWhile attending the inauguration of a new cement production line in Hamedan Province, Ali Akbar Mehrabian, Minister of Industries and Mines has announced that Iran has reached self-sufficiency in cement production, Fars News reported. According to Mehrabian Iran is now capable or producing 55Mt of cement domestically each year and he expects the country’s production capacity to hit 64Mt by the end of the current fiscal year, which ends in March. Mehrabian further noted that over the last thr... |
Binani Cement in talks with FIIs to raise funds for new projects05 January 2009, Published under Cement NewsBinani Cement has initiated talks with a few foreign institutional investors (FIIs) to raise Rs 1,500 crore for its new projects. Binani’s managing director Vinod Juneja has been in talks with FIIs over the past few days to explore various options to fund its two upcoming projects, said a source close to the development. Currently, JP Morgan holds a 15% stake in Binani, while Credit Suisse, through a Mauritius-based company, holds another 9.11%. The cement flagship of the diversified Rs 2,5... |
Aditya Birla Group cement sales up 13.4% in Dec05 January 2009, Published under Cement NewsThe Aditya Birla Group said on Friday that its cement despatches in December rose 13.4 per cent from a year ago period to 2.98Mt. Production for the month rose 14.9 per cent to 2.93Mt. The group sold 2.54Mt in November and produced 2.5Mt. The group’ cement business includes flagship Grasim Industries and UltraTech Cement which together account for a combined production capacity of 35Mta. ACC has also announced its cumulative production and despatches figures from January to December 2008.... |
Jai Balaji Industries new cement plant, West Bengal05 January 2009, Published under Cement NewsReuters quoted Mr Aditya Jajodia CMD of Jai Balaji Industries Ltd as saying that Jai Balaji Industries Ltd will start building its new integrated steel, cement and power plant in eastern West Bengal state from January end. Mr Jajodia said that it has got 750 acres of land from local authorities for the project. He added that "We will get another 250 acres over and above this within the next 10-15 days." Altogether 3,700 acres are required for the project. He said that it plans to spend ab... |
Canyon east of Tucson could be new rock quarry05 January 2009, Published under Cement NewsCalifornia Portland Cement has a lease to quarry limestone on 70 acres there but Pima County officials say the area needs protection to insure Tucson has a clean water supply and the environment is not threatened. Now, after two years of unsuccessful opposition Pima County has new plans for a roadblock. "We’re hoping the Obama Administration and new Interior Department will buy some time," says Richard Elias, Chairman of the Pima County Board of Supervisors. Elias is hoping the Army Corps... |
Pakistani domestic sales down, exports perform well03 January 2009, Published under Cement NewsPakistani cement works operated at 59 per cent capacity in December 2008 as compared to 61 per cent in December 2007, the lowest monthly utilisation recorded after February 2004, at 55 per cent. However, total utilisation levels for the first half of fiscal year 2008-09 (1HFY08-09) was recorded at 74 per cent against 75 per cent in the corresponding period of previous year, First Capital Research reported on Wednesday. The cement sector concluded the last month of 2008 with continued poor... |