Cement News tagged under: Ambuja Cements
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... |
Ambuja Cements wins national energy excellence award29 December 2022, Published under Cement NewsAmbuja Cements has won the National Award for Energy Excellence in the Indian Cement Industry, under the Grinding Category for measures adopted in improving energy efficiency at the Roorkee plant . The award instituted by the National Council for Cement and Building Materials was given during the 17th NCB National Conference on December 9, 2022 in New Delhi from Shri Som Prakash, Minister of State, Ministry of Commerce and Industry, Government of India. |
ACC Ltd and Ambuja Cements shut two plants over transporter dispute16 December 2022, Published under Cement NewsThe management of Ambuja Cements and ACC Ltd ( Adani Group ) have shut the Darlaghat/Rauri and Gagal plants following a rise in transportation and raw material costs, and a dispute between the cement transporters and cement producers regarding the increase in freight charges. The dispute has adversely affected the market share of the company as cement transports have fallen considerably. All employees have been advised not to attend duties with immediate effect until further inst... |
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... |
Ambuja Cements and ACC lead the way on water positivity30 November 2022, Published under Cement NewsAmbuja Cements and ACC are leading the way in water positivity, according to a report in Business Standard. Over the last 20 years both companies have put initiatives in place to not only address water conservation in their production processes but also tackle water scarcity across India. Globally, Ambuja Cements is the only cement producer that has been recognised for its leadership in water security in CDP 2021 with the best ‘A’ score, while both companies have scooped numerous awar... |
Ambuja Cements posts 68% decline in profit in 3QFY2324 October 2022, Published under Cement NewsAmbuja Cements has posted a 68 per cent fall in standalone net profit in the 3QFY23 ended 30 September 2022. According to Mint, net profit for the three-month period came in at INR1380m (US$16.67m), compared to INR4410m in the same period last year. Net sales advanced by 14 per cent from INR31,930m to INR36,310m. EBITDA in the 3QFY23 came in at INR3040m, significantly impacted by the rise in fuel costs. Volumes saw growth of 12 per cent, while logistics costs saw a notable reduction dri... |
Cement sector fuels Indian M&A record21 October 2022, Published under Cement NewsAdani Group ’s acquisition of Ambuja Cements and ACC has contributed to a new record in merger and acquisition (M&A) activity in India. According to data by Refinitiv, the value of M&A deals in India has risen by 58 per cent YoY to US$158bn in the first nine months of 2022, coming in higher than the full-year total in both 2018 and 2021. The nine-month period saw 1795 M&A deals being struck, up 21 per cent YoY, marking another record according to Mint. Analysts believe India could soon ... |
Adani in talks to acquire Jaiprakash cement unit10 October 2022, Published under Cement NewsAdani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint. The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place in the cement industry, having already acquired Ambuja Cements Ltd and ACC Ltd from Holcim fo... |