Cement News tagged under: Birla Corp
India: Birla Corporation sees Q1 cement profits rise 441%11 August 2016, Published under Cement NewsBirla Corporation has released its quarterly financial results for the three months to the end of June 2016. During this period, Birla’s profits from its cement operations rose by 441 per cent compared to those from a year earlier, standing at INR1.1bn (US$16.3m). Cement revenues were also up, albeit not as spectacularly. In 1QFY16-17 total revenues were INR8.3bn (US$125m), an increase of 17 per cent YoY. Cement volumes were also higher, with 2.17Mt dispatched as compared to the 1.96Mt... |
India: Birla eyes September completion of Reliance acquisition11 July 2016, Published under Cement NewsBirla Corporation has said that it expects to complete its acquisition of Reliance Cement by September, Gulf Today reports. The US$711m deal was initially struck in February 2016 and will raise Birla’s cement capacity from 10Mta to 15.5Mta, as well as securing access to mineral concessions. A group of Birla shareholders took the company to court in an effort to block the deal, but this was rejected by the Kolkata High Court in May. Birla Corporation chairman Harsh V Lodha said: “The ac... |
India: petition fails to stop Birla Corp and Reliance deal20 May 2016, Published under Cement NewsCalcutta High Court justice Jyotirmoy Bhattacharya on Thursday dismissed petitions filed by a Birla faction seeking injunction in Birla Corporation's (Birla Corp) plan to buy Reliance Infrastructure's cement business for an enterprise value of INR4.8bn (US$711m). The Birlas sought an order to postpone the high profile cement deal entered between MP Birla Group's Birla Corporation and Anil Ambani-owned Reliance Infrastructure. Birla Corporation had on 4 February 2016 entered into an agreem... |
India: Birla sees Q4 profit rise to US$17m09 May 2016, Published under Cement NewsBirla Corporation has released its earnings figures for the three months to 31 March 2016, during which time the firm achieved a profit of INR1.16bn (US$17.4m), up fourfold on a year earlier, the Hindu reports. Revenue for the quarter rose by nine per cent to INR8.7bn (US$131m). Full-year earnings saw total income rise by two per cent to INR32.7bn (US$492m), while profits were down 10.3 per cent at INR1.57bn (US$24m). Chairman, H V Lodha, said that both the cement and jute divisions pe... |
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... |
LafargeHolcim considering revised divestment plan in India04 February 2016, Published under Cement NewsLafargeHolcim confirmed today that it is considering a divestment of its interest in Lafarge India with a cement capacity of around 11Mta. The divestment would require the approval of the Competition Commission of India (CCI) as an alternative remedy for the merger of the group’s legacy companies. The company said in a statement that it is no longer in discussion with Birla Corporation Limited (BCL) for the sale of the Jojobera and Sonadih cement plants in eastern India announced last yea... |
Birla Corp Ltd awaiting mining clearance ahead of joint venture project03 July 2015, Published under Cement NewsBirla Corporation Ltd (BCL) said on Thursday said it is awaiting mining clearances from the Assam Mineral Development Corp (AMDC) to set up a joint venture in the state. The cement maker has plans to set up a 1Mta plant in Umrangso in Dima Hasao district in Assam. "The joint venture between BCL and AMDC is yet to be formed. We are waiting for limestone mining block allocation to AMDC before forming it," the company's managing director, BR Nahar, told local media on the sidelines of the com... |
India: local tax on coal mines to hit cement firms24 March 2014, Published under Cement NewsIndia's coal ministry has tabled a proposal that cement, steel and sponge iron companies that have captive coal mines have an undue advantage, and this could be offset with a new tax. The rationale behind the coal ministry's proposed increase in taxes on cement and steel companies that own coal mines is that, while they are insulated from the market vagaries as far as this key input is concerned, their output prices are market determined, leading to an undue advantage. The exact amount of ... |
Birla selects Gebr Pfeiffer mill for Satna cement works25 November 2013, Published under Cement NewsIndia-based Birla Corporation Ltd has placed another order with Gebr Pfeiffer for an MPS 2800 BK for its cement plant in Satna. Featuring an installed drive power of 800kW, the mill will be capable of grinding 28tph of petcoke to a product fineness of two per cent R90µm. The specific power consumption of this material, which is difficult to grind, will be about 21kWh/t. The fuel for two cement rotary kilns will be ground and dried in the mill while simultaneously being dried in an integrate... |
Power supplies restored at Birla's Durgapur unit24 October 2013, Published under Cement NewsBirla Corporation has resumed cement production at its Durgapur Cement plant as power has been restored after the severe Cyclone Phailin that hit eastern areas of the country earlier this month. Power was restored on 22 October 2013 by Damodar Valley Corporation after the cyclone caused damage to high tension lines and pole structures. In a statement released on 16 October to the Bombay Stock Exchange, Birla said that it had initiated the necessary action to resume supplies together with ... |