Cement News tagged under: ACC Ltd

RSS feed

Adani Group to refinance Ambuja Cements and ACC bridging loans

02 December 2022, Published under Cement News

The 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 News

ACC 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...

Adani Group to invest US$848m in Rajasthan cement

10 October 2022, Published under Cement News

India’s Adani Group has revealed plans to spend INR70bn (US$848m) doubling the group’s cement production capacity in the northern state of Rajasthan. This follows an announcement by the company to invest INR650bn (US$7.9bn) in the state over the next 5-7 years. Along with cement production, investments are planned in the renewables business, airport expansion, and networks to deliver piped natural gas (PNG) and compressed natural gas (CNG), reports Reuters. Just a few weeks ago, Gautam ...

Indian cement's fuel strategy alters

19 August 2022, Published under Cement News

While the Ukraine-Russian war rages on, the impact on fuel prices can clearly be seen across the globe. Indian cement manufacturers are having to reconsider their strategies for energy consumption and fuel sourcing. Changes in imports have already started to see Indian cement producers seek higher volumes of petcoke imports and cheaper trade routes for thermal coal. Much of the petcoke that Indian cement manufacturers have imported recently has come from Venezuela for the first time, accord...

Margins squeezed for Indian cement producers

12 August 2022, Published under Cement News

India remains one the fastest-growing economies at 7.4 per cent GDP growth in 2022, according to the IMF. Cement demand has also risen and is forecast to rise by 7-8 per cent in the FY22-23 to around 388Mt, says ICRA Corporate Ratings. This would seem positive for investment in the Indian cement sector, but cement producers have been announcing tighter margins, and raw material and energy costs are expected to further impact margins going forward. Reporting on operating margins for ceme...

ACC Ltd releases ACC Gold Water Shield

08 June 2022, Published under Cement News

ACC Ltd  ( Holcim Group ) has developed ACC Gold Water Shield, which is the country’s first specially-formulated cement with high-quality water-repelling properties. The product ensures that structures made with it are durable and protected from dampness or seepage. ACC Gold Water Shield is specially formulated cement with high-quality water-repellent properties. With water repellence engineered at a particle level, it reduces the capillary action thus shielding homes from dampness and see...

What to make of Holcim's Indian exit?

20 May 2022, Published under Cement News

Holcim Group agreed to sell its Indian cement businesses this week for US$10.5bn in cash to the Adani Group. ICR reports on the deal and what this means for the Indian cement sector and Holcim going forward. The Adani Group is a coal, power, ports and renewable energy conglomerate that had only a small footprint (Adani Enterprises Ltd) in the cement sector before its interest in Holcim companies, ACC Ltd and Ambuja Cements. The latest acquisition will make Adani the second-largest player ...

Aditya Birla Group will consider buying Holcim's Indian assets

26 April 2022, Published under Cement News

Kumar Mangalam Birla, chairperson of Aditya Birla, is reportedly looking at ways to make a bid for ACC Ltd and Ambuja Cements that Holcim intends to divest, according to The Economic Times. UltraTech Cement ( Aditya Birla Group ) may look to expand its leading position in the market as any producer that picks up the Holcim assets in India will automatically become a contender to UltraTech Cement , as Holcim is the second-largest player in the Indian cement sector. However, analysts bel...

JSW Group in discussions to raise funds to bid for Holcim's Indian operations

22 April 2022, Published under Cement News

Sajjan Jindal-led JSW Group has initiated discussions with private equity (PE) firm Carlyle to join forces and back its bid for Holcim ’s Indian cement operations, said people aware of the matter.   Holcim Group is reputedly looking to exit India 17 years after its entry, putting its twin listed arms of Ambuja Cements  and ACC Ltd up for sale as part of a global strategy to focus on core markets.   JSW, one of the strong contenders for the acquisition, is busy organising b...

Holcim reported to be looking for potential buyers of ACC Ltd

19 April 2022, Published under Cement News

Bloomberg has reported on Holcim proposing to dispose of Ambuja Cements Ltd. Holcim owns ACC Ltd and Ambuja Cements in India. With approximately 64Mta of cement capacity it is second-largest producer behind UltraTech Cement in the country. The Swiss conglomerate is believed to have held early-stage negotiations with JSW and Adani Group, among others, to explore their interest levels, according the Economic Times. Deliberations are in the early stages and may not lead to a transaction, ...