Cement News tagged under: Reliance Infrastructure
Birla 2Q16 net profit more than doubles24 November 2016, Published under Cement NewsBirla Corporation have reported a net profit of INR584m (US$8.49m) for the quarter ended 30 September 2016 compared to INR232m for the same period last year. Total income declined 4.3 per cent to INR8.86bn in the July-September quarter from INR9.27bn in the previous year. Total expenses also fell, registering at INR8.43bn versus INR8.99bn in the corresponding quarter last year. In the same period, Birla Corp completed its acquisition of Reliance Infrastructure’s Reliance Cement Company... |
Birla completes acquisition of Reliance Cement23 August 2016, Published under Cement NewsBirla Corporation announced that is has completed the acquisition of Reliance Infrastructure subsidiary, Reliance Cement. The deal was valued at about INR48bn (US$715.6m). Reliance Cement becomes a wholly-owned subsidiary of Birla, whose production capacity now reaches 15.4Mta, up from 9.8Mta, as a result of the deal. Reliance Cement operates a 5.08Mta integrated capacity at Maihar (Madhya Pradesh) and Kundanganj (Uttar Pradesh) as well as a 0.5Mta grinding unit at Butiburi (Maharashtra).... |
Reliance Infrastructure to sell cement arm to Birla Corp05 February 2016, Published under Cement NewsReliance Infrastructure (RInfra) has signed a share purchase agreement with Birla Corp to sell 100 per cent in Reliance Cement Company (RCCPL). The deal values cement business of RInfra at INR48bn. Under the transaction, Birla Corporation will acquire the 100 per cent shareholding of RInfra in RCCPL. The deal is still subject to approval by the Competition Commission of India, among others. Reliance announced back in November that it would be divesting of its cement and roads segmen... |
Reliance may get final bids for cement unit by year-end, India04 December 2015, Published under Cement NewsReliance Infrastructure is expected to get final bids from the shortlisted bidders for the sale of its cement business by 24 December 2015, according to sources close to the sale process. Last month the company announced it would be divesting of its cement and roads segments to focus on its defence business. In March 2015, Reliance announced it would be acquiring Pipavav Defence & Offshore Engineering Co in an all-cash deal. In terms of the sale of its cement unit, Reliance said it ha... |
JSW and JK Lakshmi reportedly among shortlist for Reliance cement assets26 November 2015, Published under Cement NewsJSW Cement Ltd and JK Lakshmi Cement Ltd are among seven bidders shortlisted for Reliance Infrastructure Ltd’s 5.5Mta cement assets, an official directly involved in the deal has disclosed to local press. On 5 November Reliance said it had shortlisted seven potential buyers who submitted preliminary expressions of interest to buy its cement business. JSW Cement, JK Lakshmi Cement and a few private equity firms are among the seven shortlisted bidders, the official cited above said... |
India: Reliance Infrastructure looks to triple capacity03 October 2014, Published under Cement NewsReliance Infrastructure plans to nearly triple its cement generation capacity to 15Mta over the next three years. The company's capacity currently stands at 5.8Mta from its plants in Madhya Pradesh (MP), Maharashtra, Uttar Pradesh and Bengal. "We will be tripling our cement capacity in the next three years by setting up new plants in MP and Maharashtra," company chairman Anil Ambani told shareholders during the AGM earlier this week. Ambani further said the new road projects that are like... |
Reliance Infrastructure plans to triple capacity to 15Mta by 201701 October 2014, Published under Cement NewsIndia’s Reliance Infrastructure plans to nearly triple its cement capacity to 15Mta over the next three years. The current capacity at the company, led by Anil Ambani, is 5.8Mta as the cement producers operates plants in Madhya Pradesh, Maharashtra, Uttar Pradesh and Bengal. "We will be tripling our cement capacity in the next three years by setting up new plants in MP and Maharashtra," company chairman Anil Ambani told shareholders. He added that expected new road projects will offer ... |
Reliance Infrastructure set to start output from Maharashtra unit03 September 2012, Published under Cement NewsReliance Infrastructure Ltd (R-Infra) is set to begin producing cement from its grinding facility in Maharashtra this month and will sell it under the Reliance Cement brand. “We will produce cement from our grinding unit, which will start now. We will buy clinker from others and do the grinding part. We will also bag them,” said Lalit Jalan, chief executive officer of R-Infra told Business Standard. The first batch of Reliance-branded cement would be out by the end of the month. The grin... |
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