Cement News tagged under: Asia
Adani group acquires Orient Cement22 October 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire Orient Cement Ltd at the equity value of INR81bn (US$963.4m). This binding agreement set Ambuja to acquire a 46.8 per cent stake in Orient Cement. This acquisition will add 16.6Mta capacity, accelerating Ambuja’s journey to an operational capacity of over 100Mta in FY24-25. The target capacity of the group is 140Mta by 2028. This acquisition will provide an additional capacity of 6Mta in north India, leveraging Orient Cemen... |
UltraTech Cement reports a slight decrease in performance22 October 2024, Published under Cement NewsUltraTech Cement Ltd has released their quarterly performance for the 2QFY25. Consolidated net sales was at INR153.08bn (US$1.82bn) compared to INR157.35bn in the same period a year previous, reflecting a 2.7 per cent decrease. EBITDA was at INR22.39bn, a 17.6 per cent decrease YOY from INR27.18bn. Profit after tax also saw a decrease, falling 35.9 per cent YoY from INR12.81bn to INR8.20bn. With this report, UltraTech have also presented some of the highlights despite what they hav... |
Dalmia Bharat reports decline in profits21 October 2024, Published under Cement NewsDalmia Bharat Ltd has reported a 60.1 per cent decline in consolidated net profits to INR490m (US$5.8m) for the September quarter due to a decline in cement prices. The company had posted a net profit of INR1.23bn for the same period last year. In this period, the company has noted that operations are also down 2.09 per cent to INR3.08bn from INR3.15bn in the previous year. Sales volume was up by 14.1 per cent to 6.7Mt YoY. Dalmia Bharat’s CFO, Dharmender Tuteja, said, “We delivere... |
UltraTech Cement expands capacity to 156Mta17 October 2024, Published under Cement NewsUltraTech Cement , the cement flagship of the Aditya Birla Group, has announced the completion of a significant capacity expansion, bringing its total cement production capacity to 156.06Mta. This addition forms part of the company's broader 22.6Mta capacity expansion plan, originally announced in June 2022. With this development, UltraTech solidifies its position as the third-largest cement producer globally, excluding China, with a consolidated grey cement capacity of 154.86Mta. This e... |
Dandot Cement releases financial statement15 October 2024, Published under Cement NewsDandot Cement Company Ltd has issued its 44th Annual Report and audited financial statements for the year ending 30 June, 2024. For the year under review, the company produced 182,701t of clinker, 173,740t of cement and 172,012t of sales. The company recorded gross sales of PKR3.44bn (US$12.39m) and net sales of PKR2.46bn, both compared to PKRNil the year previous. The net profit amounted to PKR20.43m where in 2023 the company saw a net loss of PKR367.44m. The company c... |
Lucky Cement announces new leadership15 October 2024, Published under Cement NewsOn 13 October, Lucky Cement 's Company Secretary, Ali Shanab, informed the Pakistan Stock Exchange (PSX) that the board of directors has appointed Mr Muhammad Sohail Tabba as the chairman of the board. Additionally, Mr Muhammad Ali Tabba has been appointed as the chief executive of the company, both of these appointments will be for a term of three years. Mr Muhammad Sohail Tabba is one of Pakistan's most prominent business leaders, the head of numerous businesses and export houses un... |
Indian cement industry growth expected to slow in FY24-2515 October 2024, Published under Cement NewsIndia's cement industry is projected to experience a slower growth rate of 7-8 per cent this fiscal year, reaching 475Mt, according to a Crisil report. This marks a slowdown from the double-digit growth recorded in the last two financial years. The first half of FY24-25 saw modest growth of just three per cent, attributed to a prolonged heatwave and labour shortages due to general elections. However, the second half is expected to see improved performance, driven by a revival in rural hou... |
Siam Cement Group expands Onnex solar power focus amidst declining technology costs14 October 2024, Published under Cement NewsSiam Cement Group (SCG) is shifting its focus to its Onnex solar energy brand, aiming to expand its power generation capacity from 200MW to 1000MW between 2025 and 2029, driven by decreasing solar technology costs. This move includes new solar projects totalling 400-500MW, which will feature solar farms, floating solar farms, and carports, according to Wachirachai Koonamwattana, head of SCG Smart Living's living solutions business. SCG’s solar business currently operates a solar farm in... |
Indian cement sector to face revenue decline in Q2FY2025 amid weak demand10 October 2024, Published under Cement NewsIndia's cement sector is expected to witness a 7.2 per cent year-on-year (YoY) drop in revenues for Q2FY25, driven by an 8.7 per cent YoY fall in realisations, according to a report by Sharekhan, a leading retail brokerage firm in India. The report highlights that despite a marginal volume growth of 1.7 per cent YoY, the sector continues to face weak demand, primarily due to sluggish infrastructure projects and adverse weather conditions. The monsoon season, combined with a delay in gove... |
Energy development organisation seeks licence to power cement industry with 18MW Hydel plant09 October 2024, Published under Cement NewsPakhunkhwa Energy Development Organization (PEDO) has submitted an application to NEPRA for a bulk electric power supply licence for its 18MW Pehur Hydel Power Plant in District Swabi. This plant, which has a total generation capacity of 18MW, will supply electricity to industrial consumers in the Gadoon Amazi Industrial Estate, including several cement-related companies. The electricity will be wheeled through the network of Peshawar Electric Supply Company (PESCO) via a 132kV transmissi... |