Shiva Cement to reduce 45% carbon emissions
Orissa-based Shiva Cement aims to reduce carbon dioxide emission by 45 per cent through utilising direct crushing of slag.
The company has installed a slag vertical roller mill (VRM) for separate grinding of slag. The process is expected to reduce consumption of limestone to 0.65t against the industry average of 1.2t while coal consumption will also decline to 0.12t as compared to 0.21-22t by average cement producers in the country.
Shiva is only fifth such plant in India with such technology is available with leading players so far.
“By virtue of selling our 49 per cent equity to ACC, we got such technology. Low burning of coal and limestone means low release of carbon dioxide into the environment”, said R P Gupta, managing director.
After successfully commencing commercial production of phase one, the company is planning to apply for carbon credit, said Gupta.
The company announced to expand its production capacity by 0.66Mt in its existing 2.3Mt at an investment of Rs 163.5 crore to meet the region’s rising demand. The company proposes to fund the project with a term loan of Rs 80 crore while the remaining amount is expected to arrange through internal accruals. The company also proposes to come out with a rights issue or preferential allotment of equity shares in near future.
Cement demand in the eastern zone during the quarter ended September surged 17 per cent, the highest zonewise growth in the country, mainly from rural sector as government’s fiscal stimulus multiplied investment on housing projects.
Published under Cement News
