Cement News tagged under: south Asia
Adani Group to set up new cement grinding unit29 August 2024, Published under Cement NewsAdani Group has announced plans to set up a 2Mta cement grinding unit in Guna, Madhya Pradesh, India. At the same time, the group is going to develop a state-of-the-art propellant production facility at Shivpuri, announced Karan Adani, CEO of Adani Ports and SEZ Ltd. The two projects for the construction of cement grinding and propellant production units, would result in an investment of INR35bn (US$417.2m), and create over 3500 direct and indirect jobs. These announcements were made in... |
UltraTech secures US$500m sustainably-linked financing for FY27 expansion goal27 August 2024, Published under Cement NewsUltraTech Cement , India's leading cement manufacturer, has unveiled an ambitious plan to expand its production capacity to over 200Mta by FY27. This strategic move is part of UltraTech's broader objective to maintain its leadership in the cement industry by meeting rising demand both domestically and internationally. Currently, the company operates at just over 130Mta but plans to significantly boost its production through the establishment of new greenfield facilities an... |
Adani Group holding company sells US$500m stake in Ambuja Cements Ltd23 August 2024, Published under Cement NewsHolderind Investments, an Adani Group -owned company, is selling US$500m worth of shares in Ambuja Cements Ltd , according to a Reuters report released on 22 August 2024. Holderind is selling the 2.84 per cent stake in the Indian cement giant on 23 August, at a floor price of INR600 (US$7.14) per share. As of 30 June 2024, Adani Group held a 70.33 per cent stake in Ambuja, according to market data. Holderind’s 50.9 per cent stake in the cement manufacturer represents the majority ... |
Dalmia Bharat Ltd shares 1H24 results22 August 2024, Published under Cement NewsDalmia Bharat Ltd has shared its financial results for the first half of 2024, ended 30 June 2024. The installed cement capacity on this date was 45.6Mta. Sales volume saw a 6.2 per cent increase from 7Mt in the 1H23 to 7.4Mt in the 1H24. EBITDA was recorded at INR6.69bn (US$79.7m), marking a 9.2 per cent increase from the corresponding period the year previous. Puneet Dalmia, Dalmia Bharat's managing director and chief operating officer, said, “The continuity of the incumbent gov... |
LC3 and LC2 – the low-carbon business opportunity13 August 2024, Published under Cement NewsIncreasing urbanisation is expected to result in a significant share of the world population living in a built environment that, unless sustainable construction materials are used, will lead to a considerable carbon footprint. The development and more widespread use of limestone calcined clay cements such as LC 3 and LC 2 is not only expected to reduce the construction footprint but also offer a business opportunity. By Dr Debojyoti Basuroy, TARA Applied Research Centre (TARC), India ... |
Holcim Philippines appoints new president and CEO05 August 2024, Published under Cement NewsNicolas George has been appointed as the new president and chief executive officer of Holcim Philippines . Mr George, who took up the role on 1 August 2024, takes over from Horia Adrian, who will become the head of decarbonisation for the Holcim Group in the Asia, Middle East and Africa region after more than three years as the head of Holcim Philippines. Prior to his new appointment, Mr George served as CEO of Holcim Group’s operations in Algeria. He started working at the company as a... |
Siam Cement Groups revises down 2024 targets29 July 2024, Published under Cement NewsA slowdown in the Thai economy has prompted Siam Cement Group (SCG) to lower its revenue expectations for 2024. The company had forecast growth of 20 per cent this year but has revised this down to 10 per cent, reports the Bangkok Post, as pressures on the domestic economy and poor petrochemical sales hit home. Although the company recorded revenue of THB252.4bn (US$6.9bn) in the opening six months of 2024, putting it on a par with the same period in the previous year, profit over the same... |
Ramco Cements sees 55% fall in net profit26 July 2024, Published under Cement NewsThe Ramco Cements Ltd reported a 55 per cent fall in net profit to INR355m (US$4.24m) during the quarter ended 30 June 2024, compared to INR793m in the same quarter of 2023. The company’s net revenue decreased by seven per cent in the first quarter of FY24-25 to INR20.97bn, down from INR22.49bn in the same period of FY23-24. During the first quarter of FY24-25, sales volume was 4.4Mt, compared to 4.3Mt in the April-June quarter of 2023. This was due to weak demand amid general electi... |
YTL Cement to acquire NSL24 July 2024, Published under Cement NewsMalaysian cement producer, YTL Cement, has agreed to acquire Singapore-based NSL for MYR792m (US$169.5m). According to Business Today, NSL is principally involved in the provision of management services and investment holding while its subsidiaries produce and sell building materials, oil and petroleum-related products, and supply environmental services. It is one of the leading producers of precast concrete components in Malaysia and Dubai. The deal will give YTL Cement an 81.24 per c... |
Boiler explosion kills two and injures 14 at UltraTech plant09 July 2024, Published under Cement NewsA boiler explosion at the UltraTech Cement factory in the Jaggaihpet region of India has reportedly killed two workers and injured 14 others. Of the injured, Avula Venkatesh and Paritala Arjun died while being treated, and a further three workers are said to be in critical condition according to NTR District Collector, Gummalla Srijana. The Jaggaiahpet police have announced that the explosion may have occurred due to a suspected gas leak in the boiler unit, following a p... |