Cement News tagged under: international
JK Lakshmi to double output, India24 September 2010, Published under Cement NewsJK Lakshmi Cement today said it would invest INR1800 crore over the next three-four years to double its cement production capacity to 10Mt. "At present, our installed cement production capacity stands at 5Mt, which we would expand to 10Mt in the next three-four years," J K Lakshmi Cement Managing Director Vinita Singhania told reporters here. Singhania, who is also the president of the Cement Manufacturers Assocation of India (CMA), said the company is setting up a 2.7Mt greenfield cemen... |
Texas Industries posts 1Q loss on financing charge24 September 2010, Published under Cement NewsCement producer Texas Industries Inc. on Thursday posted a US$23.7m net loss in the fiscal first quarter, mostly due to a huge charge related to recent refinancing. "Conditions in our markets remain challenging," CEO Mel Brekhus said. "We continue to focus on meeting market demand as cost effectively as possible." The loss worked out to 85 cents per share for the quarter than ended in August. The results included an after-tax refinancing charge of US$18m, or 65 cents per share. The Dalla... |
SCCC: Price hikes to drive earnings growth24 September 2010, Published under Cement NewsSCCC confirmed during TISCO Securities’ latest visit that it had raised domestic cement prices by Bt400/tonne via two rebate reductions for dealers in Aug-Sept in some products. The net effective price increase is Bt200/tonne and this, coupled with cement demand growth, should help boost earnings in 2011-12F. Hence, rating was upgraded to Buy, with a new TP of Bt265. Another price hike is expected in 2011 based on our assumption that SCCC’s costs will rise by 19% next year to US$80/tonne. A... |
Cemex receives UN honour23 September 2010, Published under Cement NewsCemex was honored yesterday at the World Business and Development Awards by the United Nations Development Program (UNDP), the International Chamber of Commerce (ICC), and the International Business Leader Fund (IBLF). Cemex was recognised for its contributions toward achieving the Millennium Development Goals through several of the Company’s programs to foster and facilitate development. Martha Herrera, Cemex director of Social Responsibility and Community Development in Mexico, was on han... |
Hyderabad metro project to boost demand, India23 September 2010, Published under Cement NewsThe revival of the Hyderabad metro rail project is seen as a boost for cement and steel companies, which now have started coming out of the recession and the subsequent lack of demand from the real estate sector. The two industries are banking on the infrastructure segment for growth. According to officials, the INR 12,132 crore metro rail project would require about 2.6Mt of cement, 217,000t of steel and 5.8Mm3 of concrete. This will translate into 52.31 million bags of cement. The ave... |
Orissa continues to attract investments23 September 2010, Published under Cement NewsOrissa has continued its growth momentum as a favourite destination for investors attracting investments worth Rs 98,929.49 crore in the April-June period of this fiscal. The most of these new investment proposals are in sectors like power, steel, cement, food processing and downstream industries. Among the investment proposals in the cement sector, Kolkata-based Icore Super cement Ltd has proposed to set up a cement plant at Somnathpur in Balasore district at an investment of Rs 151 crore. ... |
Pakistan cement export increases23 September 2010, Published under Cement NewsThe Pakistan government said today it exported 944,802t of cement and earned US$35.219m in the month of August 2010, compared to 756.306t at US$41.566m in July 2010. The cement exports recorded a growth of 24.92 per cent in terms of quantity but declined by 15.27 per cent in terms of value in dollar, according to data released by Federal Bureau of Statistics, Government of Pakistan. Similarly, if compared with August 2009 (US$39.41m), the cement export saw a growth of 17.78 per c... |
Gresik: Cima acquisition delayed23 September 2010, Published under Cement NewsSemen Gresik , Indonesia’s biggest cement maker by volume, said on Thursday its acquisition process of Malaysia’s Cima is likely to be delayed until the first half of 2011. |
Fauji Cement project delays, Pakistan23 September 2010, Published under Cement NewsThe new cement plant of Fauji Cement Company Ltd. (FCCL) which was scheduled to come online during the third or fourth quarter of FY2010, is now expected to start production in the second quarter of FY2011. The expansion of 7200tpd would make the company fifth largest cement producer in Pakistan in terms of capacity. InvestCap, a Karachi-based brokerage house, said the expansion was due to come online during FY10 and has been delayed till 2QFY11, but not highlighted the reasons for delay o... |
India’s government favours cement roads23 September 2010, Published under Cement NewsIndia’s Transport Minister Kamal Nath on Thursday said he favoured building concrete roads in the country, but asked the cement industry to ensure that this does not lead to shortages and a rise in prices of the key construction material. Reacting to the industry’s demand for construction of cement concrete roads, Nath said: "We will support cement concrete roads. Cement roads are a must in India... But industry will have to ensure that there is no shortage and price rise when we start buil... |