Cement News tagged under: ACC Ltd
Adani Cement completes refinancing package26 October 2023, Published under Cement NewsAdani Cement , through Endeavour Trade and Investment Ltd, announced the successful completion of its refinancing programme for acquisition debt taken for Ambuja Cements and ACC Ltd , through a US$3500m financing package, raised from a clutch of international banks. This showcases Adani's robust access to the global financial market and strong liquidity position, says the company. “This achievement reflects our commitment to financial stability and growth. This facility will res... |
Adani Cements plans green capacity expansion05 September 2023, Published under Cement NewsThe new capacity additions for Adani Cements would be only for manufacturing of green cement, as it looks to double the production of the commodity to about 140Mta by FY27-28. The two Adani Group cement companies, ACC and Ambuja Cements, would only add capacities through the organic route, which would be mainly funded through internal accruals. Green cement is manufactured by reusing industrial wastes, such as slag and fly ash and energy efficiency modes, which reduces carbon emissions. Ind... |
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |
ACC launches Bagcrete19 May 2023, Published under Cement NewsACC Ltd has launched Bagcrete, a pre-blended and high-quality concrete for all types of construction jobs. According to the company, Bagcrete was created to offer the best compressive strength (10-80MPa) and exceptional workability retention as a result of the pre-blended components being “meticulously measured to ensure uniform quality.” In contrast to traditional concrete, which requires the mixing of various components on-site, Bagcrete is a pre-blended mixture of cement, sand and ag... |
ACC Ltd posts 14% rise in revenue02 February 2023, Published under Cement NewsACC Ltd has reported a 14 per cent increase in revenue to INR45,370m (US$554.7m) in the quarter ended 31 December 2022, up from INR42,260m in the same period a year earlier. EBITDA over the same timeframe fell from INR6100m to INR4190m, while the EBITDA margin declined from 14.7 to 9.4 per cent. Sales volumes over the three-month period stood at 7.7Mt of cement and clinker, on a par with the same quarter in 2021, while sales volumes of ready-mixed concrete advanced marginally from 0.73M... |
Freight dispute continues in northern India30 December 2022, Published under Cement NewsThe dispute over freight rates continues to run after two weeks, forcing the closure of two cement plants in Himachal Pradesh, as talks between truck operators and the management of the Darlaghat (Ambuja Cements) and Barmana (ACC Ltd) plants fail to yield any results. Adani group, which owns both plants, closed the plants on December 14. Adani management has been asking truck operators to lower freight rates to INR6/t/km, but the latter have refused. While the Bilaspur District Transpor... |
Indian cement prices to rise further in December06 December 2022, Published under Cement NewsCement prices in India are expected to rise by INR10-15/bag (US$0.12-0.18/bag) this month, according to a report by Emkay Global Financial Services Ltd. Since August this year, prices have risen by up to INR16/bag with November alone seeing them advance by INR6-7/bag. While prices remained flat in Western and Central parts of the country, they hardened in Northern, Eastern and Southern regions, reports Business Standard. “Absorption of the price hikes will get revealed over the next few d... |
Ambuja Cements and ACC Ltd win sustainable waste award06 December 2022, Published under Cement NewsACC Ltd and Ambuja Cements , part of the Adani Group , have scooped the Platinum Award at the 12th International Conference & IPLA Global Forum 2022 in Sustainable Waste Management & Circular Economy (IconSWM-CE). The companies were recognised for their pre-processing and co-processing facilities at the Ambujanagar and Wadi cement plants with Wadi ranked platinum in two out of the eight categories and Ambujanagar ranked platinum in four out of eight categories. Both companies offe... |
Adani Group to refinance Ambuja Cements and ACC bridging loans02 December 2022, Published under Cement NewsThe Adani Group is reported to be in talks with several foreign banks to refinance US$3.5bn of bridging loans taken for the acquisition of Ambuja Cements Ltd and ACC Ltd this year. The loans were taken by the Mauritius-based promoter entity Endeavour Trade and Investment, a special-purpose vehicle that acquired Ambuja Cements' stake from Swiss cement major Holcim in an all-cash transaction of US$6.5bn, according to the Business Standard. The tenure of the refinanced loans... |
ACC Ltd records cement volume growth of 4%18 October 2022, Published under Cement NewsACC Ltd (ACC) (Adani Group) has announced the financial results for the quarter ended 30 September 2022, recording a cement volume grew of four per cent as compared to the same quarter last year. Ready-mix concrete also performed well with a volume growth of approximately 10 per cent over the same quarter last year. With a focus on operational excellence and unlocking potential, ACC has accelerated debottlenecking of various plants and improvement in efficiencies. Alternative fuel... |