Cement News tagged under: JSW Cement
India's CMA welcomes Interim Budget 2024-2507 February 2024, Published under Cement NewsIndia’s cement producers have applauded the country’s government for its sustained focus on infrastructure development in its latest Interim Budget 2024-25. Under the budget plan, investment in infrastructure will increase by 11.1 per cent YoY in 2024-25, equivalent to 3.4 per cent of GDP. Three major economic railway corridor programmes, namely the energy, mineral and cement corridor, as well as the port connectivity corridor and high traffic density corridor, are to be implemented t... |
JSW Cement prepares for IPO11 January 2024, Published under Cement NewsJSW Cement has reached out to domestic and foreign investment banks including SBI Capital, Kotak Mahindra Capital, JM Financial, DAM Capital, Jefferies, Citi and Goldman Sachs for advising the company on the proposed initial public offering. JSW Group is preparing the ground for listing its cement business on stock exchanges to raise about INR65000m (US$782.9m), according to The Hindu businessline. With the intense competition and consolidation in the industry, JSW Cement plans to utili... |
Suitors line up for Vadraj Cement22 November 2023, Published under Cement NewsJSW Cement , the Adani Group , and the ArcelorMittal Group are among the entities expressing an interest in acquiring India’s Vadraj Cement , according to Construction World. Vadraj Cement, which is owned by the ABG Shipyard group, is being sold under the Insolvency and Bankruptcy Code (IBC) process. After the cement company was sued by trade creditor Beumer Technology India in August 2018 to recover unpaid debts, the Bombay High Court ordered the company to be wound up. Following lon... |
UltraTech Cement and Adani Cement alerted to Heidelberg's Indian divestment rumour05 October 2023, Published under Cement NewsUltraTech Cement ( Aditya Birla Group ), and the country’s second-largest cement producer, Adani Cement, may join the race along with Parth Jindal-led JSW Cement to acquire Heidelberg Material’s Indian operations, reports The Hindu. Heidelberg Materials has a cement manufacturing capacity of 13.4Mta across its Indian plants in Damoh (Madhya Pradesh), Yerraguntla (Andhra Pradesh), Sitapuram (Telangana), Ammasandra (Karnataka), Jhansi (Uttar Pradesh), Sholapur (Maharas... |
JSW Cement begins EV pilot project04 October 2023, Published under Cement NewsIndia-based JSW Cement has acquired five electric trucks from the Murugappa Group as part of a pilot project to transition to the use of EV trucks. According to JSW Cement, the trial is being carried out on the route of manufacturing operations in Andhra Pradesh and Karnataka. “JSW Cement has procured the current EV trucks from Murugappa Group. Upon successful completion of the pilot project, the company aims to transition to EV trucks to support its in-bound and out-bound logistics op... |
JSW Cement reveals IPO plans to fund expansion04 September 2023, Published under Cement NewsJSW Cement is planning to launch an initial public offering (IPO) in 2024 to raise INR40,000m (US$483.8m) to fund its ongoing expansion plans, reports Live Mint. “In 2024, we are planning to take this company public, for which we will be filing the DRHP (draft red herring prospectus) in the next six months. We will be timing the market listing after the national elections,” confirmed Parth Jindal, managing director, JSW Cement. According to the company, it hopes to raise I... |
JSW Cement announces key milestones01 September 2023, Published under Cement NewsJSW Cement has announced a number of milestones that underscore the company’s commitment to innovation, sustainability and expansion. Shiva Cement , a subsidiary of JSW Cement, has successfully commissioned its waste heat recovery systems, not only enhancing operational efficiency but also contributing significantly to the reduction of carbon emissions. “The utilisation of waste heat to generate energy aligns with the company’s commitment to sustainability and minimising its envi... |
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... |
Shiva Cement inaugurates Sundergarh mill19 June 2023, Published under Cement NewsIndia-based Shiva Cement , part of JSW Cement , has inaugurated its new cement plant in Sundergarh, Odisha. The new plant has an overall capacity of 1.05Mta as well as an additional 0.27Mta of cement capacity. Parent company, JSW Cement, announced plans to increase its installed capacity to 25Mta, up 47 per cent, in October 2022. |
Sustainability-linked loans gain momentum in the cement industry16 June 2023, Published under Cement NewsThis week JSW Cement announced that it was signing a new loan agreement that would be sustainability-linked to raise US$50m in debt capital to help achieve its 50Mta production capacity goal. While this is not JSW Cement's first such loan, ICR looks at the growing trend for committing to sustainability loans in the cement sector, and what they really offer for the environment and shareholders. Sustainability-linked bonds (SLBs) and sustainability-linked loans (SLL) have become increasing... |